Watch List notes:

Banque Nationale de Perse, obverse and reverse archival photographs showing designs for 50 rials, 1934. These designs also feature the signatures, in both Farsi and German. At this time, Iran was trading a great deal with Germany in an effort to distance itself from tradtional colonial powers. Although the German population was very small, it included many key officials, hence the signatures on these, and the issued, notes.spots of fading on obverse, clear and attractive (2).

Estimate: £400.00 - £500.00