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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 February 19

Branch:  London

Value:  £5.00

No.   A/370 69814

Signed:  K. O. Peppiatt 

Obv. Very faint mark at top left edge otherwise fairly clean.

Rev. Crease mark down centre & left centre. The top left half is slightly more dirty than the rest of the reverse

Grade: EF?/VF+

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