Watch List notes:

The Imperial Bank of Persia, obverse and reverse archival photographs showing designs for 20 tomans, 1923. This 20 toman design is very similar in most respects to the note eventually issued, since it was printed by Bradbury. The only significant difference is the portrait, which was changed to Naser al-Din Shah (see next lot).very good quality with a clear image (2).

Estimate: £600.00 - £800.00