Watch List notes:

(x) Bank Melli Iran, 500 Rials, AH1317 (1938), red Western serial number D 757079, blue on multicoloured underprint, portrait of Shah Reza at right, arms at centre, reverse blue, the tomb of Cyrus the Great at Pasargarde, Persian text(Pick 37a, TBB B131a, Farahbakhsh 57), in PMG holder 58 CHOICE ABOUT UNC, EPQ, rare in this grade.

Estimate: £800 - £1,200