World Banknotes

Government of the Straits Settlements, watermarked paper intended for the $1 of 1925, and as used on the $10 of 1925, in actual fact, the $1 was issued without a watermark, while the $10 went ahead as shown here, with annotations, glued into blue card frames, as produced, extremely rare (2 papers)
BNB B118, B120, Pick 9, 11 £300-£400