One Pound, 2 November 1923, B prefix, uniface, signature of Norman Hird, stamped CANCELLED, line of small punch-holes at centre (Douglas 36-1). Trimmed close to border, otherwise good very fine (£90-120)

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 size in 1924, in sheets of 16