The Malta 1 Pound banknote from 1949, designated as PICK 26a with serial number A/2 508189, holds a PMG 45 Choice Extremely Fine grade. This rating indicates a note that is nearly uncirculated, with only slight signs of wear such as a few folds or faint handling marks. The note retains strong color and sharp details, highlighting important Maltese symbols and historical motifs. Despite minor imperfections, the PMG 45 grade ensures the banknote's appeal to collectors, as it preserves its aesthetic quality and historical significance. It remains an excellent example of mid-20th century Maltese currency.