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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 May 29

Branch:  London

Value:  £5.00

No.   B/110 94362

Signed:  K. O. Peppiat

Obv. Crease marks across and down centre. Right bottom edge slightly frayed

Rev. Crease marks more evident and slightly dirty.

Grade: VF+/F+

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