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The method I use to scan this white banknote greatly enhances the watermark.
However, it also accentuates any creases and marks that might have been.
The note appears better than it looks from the scan
Date: 1934 July 19
Branch: London
Value: £10.00
No. K/140 26941
Signed: K. O. Peppiatt
Obv. Nice clean front. Light crease down centre
Rev. NIce clean back. Light crease down centre. Possibly across as well ?!
Grade: EF?