Watch List notes:

(x) Bank Melli Iran, a partial specimen set from the 1932 issue, comprising 5 rials, green, 10 rials, brown, 20 rials, red, 50 rials (2), brown, 100 rials, purple, all with zero serial number, portrait Shah Reza,(TBB B101s-105s, Pick 18s-22), the 5 and 50 rials extremely fine to about uncirculated, the remainder uncirculated.

Estimate: £1,500 - £2,000