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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:  1937 Feb. 15

Branch:  London

Value:  100.00

No.  53/0 31382

Signed:  K. O. Peppiatt 

Obv. Very slight hint of a grease stain by England , 4 o'clock.

Rev. Ex folded in 4, down and across centre

Grade: EF/EF?

Price:  2250.00

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