Cayman Islands 1974 - Cayman Islands Currency Board 5 Dollars Specimen with Perforated 'SPECIMEN OF NO VALUE' (Pick 6s, 467/1–A1)
This perforated format belongs to a different control philosophy than red-overprint presentation specimens. Where overprints and stamps preserve legibility while signalling non-validity, perforation is irreversible. It voids by physically interrupting the paper itself, producing a specimen intended for retention and documentation rather than for outward-facing specimen distribution. Read more →