5 Pounds - Elizabeth II George Stephenson, darker

The Stephenson £5 series ran in two distinct shade variants — the earlier, lighter printing and this darker version, which collectors and dealers have long distinguished informally despite the Pick catalogue treating them as a single type. The shift in ink depth is consistent enough across surviving notes to suggest a deliberate adjustment at De La Rue rather than simple batch variation, though the Bank of England has never formally acknowledged a design change between the two states.

Kentfield's signature appears on the HK-prefix notes; the Merlyn Lowther-signed examples came later in the run. Serial prefix matters here for anyone building a signature set.