This is a 1920s vintage London Underground ticket issued by the London Electric Railway (LER) who operated the Piccadilly Line (which served Warren Street and Strand/Aldwych Stations) until it was absorbed into the London Passenger Transport Board in 1933.

Route: The ticket is for a journey from Warren Street to the Strand Station on the Piccadilly Line.

Fare: The cost of the journey was one pence (1 d).

Conditions: It was available on the day of issue only and subject to the company's regulations.