Test Note Thomas De La Rue and Co. Ltd.

De La Rue has produced specimen and test notes for internal and client demonstration purposes since the nineteenth century. These were never issued as currency — they exist to showcase printing capabilities, paper stock, security features, or new production techniques to prospective client governments and central banks. The watermark on this example would have been a deliberate selling point, paper security being among the firm's core commercial arguments.

No monetary authority stands behind this note. Its value to collectors is entirely as a document of the printing trade.