Watch List notes:

(x) Bank Melli, Iran, 100 rials (2), ND (1938) blue serial number M326071/072, brown and pale pink and green, Shah Reza at right, building at centre, signatures of Khosravi and Hajir, reverse purple, mountains(Pick 36Aa, TBB 130a, Farahbakhsh 56), in PMG holders 50 ABOUT UNCIRCULATED and 55 ABOUT UNCIRCULATED with minor repair, a scarce consecutive pair (2).

Estimate: £1,200 - £1,400