Watch List notes:

Imperial Bank of Persia, obverse stage proofs (3) and obverse and reverse partial proof for 2 tomans, ND (1924-32), the stage proofs in different colours, showing underprint only, value at centre, with some ink annotations, obverse and reverse proof showing complete print on reverse, underprint on obverse(Pick 12 for type, Farahbakhsh type 13 for type), extremely fine or better, very rare (4).

Estimate: £600 - £800