Watch List notes:

Banque Nationale de l'Iran, obverse and reverse unadopted designs for 5 pahlevis, 1936, green on peach and pale green underprint, Shah Reza at right, arms at centre, Lamassu (human-headed winged bull) at left, Farhavar at top centre, reverse green, peach and blue, Palace of the 40 Columns at centre(Pick unlisted, similar to Pick 17A but with different portrait and bank name), printed by the same company that produced the Hedjaz series, this bank name is previously unknown, even on photographic essays, in PCGS holders 64 PPQ, very choice uncirculated, exceptionally rare and really quite attractive (2).

Estimate: £1,500.00 - £2,000.00