Watch List notes:

(x) Imperial Bank of Persia, 100 tomans, Yezd, 18 June 1918, serial number X/A 02549, black, pink and green, Shah Nasr-ed-Din at right, Imperial arms at left, value at centre and at each corner, two manuscript signatures below, black oval handstamp low centre, black handstamp 'PAYABLE AT YEZD ONLY' in margin, reverse red-orange, Imperial arms at centre, value at centre and at each corner, black serial number low left, top right and ar centre(Pick 8), repairs, but the paper still retaining good body, in PCGS holder 20, very fine and extremely rare as an isued note. It is believed only about 100 examples were unredeemed in the first half of the 20th Century. Of the greatest rarity and an exceptional piece.

Estimate: £15,000.00 - £20,000.00