Watch List notes:

Banque Nationale de Perse, obverse and reverse archival photographs showing designs for 10 rials, 1934, This design, and those following it, feature the name 'Banque Nationale de Perse' (National Bank of Persia). This issuing authority never existed, and no other notes or designs are known with this name. Stranger still is the fact that the actual issuing authority, Bank Mellie Iran, had already issued notes in 1932, two years before these were produced. Perhaps the Iranian Government were again rethinking the name of the bank. Alternatively, Bradbury had been given only partial information, because the actual notes were printed entirely by the American Banknote Company (ABNC) in 1935. Strikingly, these Bradbury designs are incredibly similar to the issued notes. It seems very likely that the two companies collaborated on this issue of this series.faded spots but clear and attractive (2).

Estimate: £400.00 - £500.00