One Pound, 1 October 1921, A 947000, Hird signature, four punch-holes and line of small punch-holes at centre, ’Cancelled’ written on each side (Douglas 36-1). Paper remnants on back of left edge, otherwise good very fine (£150-200)

This lot was sold as part of a special collection, The Union Bank of Scotland Collection.

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A second series of notes from Waterlow & Sons Ltd appeared in 1921, printed with a red and yellow overlay in the form of a sunburst. The £1, £5 and £10 had one printed signature but notes for £20 and £100 were still signed by hand until the early 1940s. The £1 note was printed in sheets of eight and, after a reduction in the size in 1924, in sheets of 16