Watch List notes:

(x) Imperial Bank of Persia, archival specimen 25 tomans, Teheran, ND (ca 1890), serial number G/B 12001-G/B 13000, black, pink and green, Shah Nasr-ed-Din at right, Imperial arms at left, value at centre and at each corner, additional Farsi text at left, reverse green, Imperial arms at centre, black overprint 'PAYABLE AT TEHERAN ONLY' top centre, value at centre and at each corner, black serial number low left, top right and at centre, perforated CANCELLED(Pick 6s, Farahbakhsh type 7s), in PCGS holder 58, choice about uncirculated, rare.

Estimate: £5,500 - £6,000