Watch List notes:

(x) Imperial Bank of Persia, 50 tomans, Teheran, 2 September 1924, red serial numbers F/A 003887, brown, pale orange, blue, pink and green, Shah Nasr-ed-Din in oval frame right centre, two manuscript signatures below, value in field, oval handstamp low centre, reverse brown and green, brown 'PAYABLE AT TEHERAN ONLY' in top margin, Imperial arms at centre, value at centre and at left and right, red serial number at each corner(Pick 16), in PCGS holder 35, good very fine and exceptional for type, very rare.

Estimate: £4,000.00 - £5,000.00