Watch List notes:

Banque Nationale de Perse, obverse and reverse archival photographs showing designs for 20 rials, 1934. All these designs feature a portrait of Shah Reza in military uniform. This portrait was used for the notes issued in the following year (1935). All the imagery on these notes is the same as well, although the surrounding design elements are often very different.one knock to lower right corner but clear and attractive (2).

Estimate: £400.00 - £500.00