Watch List notes:

(x) Bank Melli Iran, obverse and reverse archival photographs showing designs for a 500 Rials, AH1315 (1936), again features significantly different central guilloche pattern, watermark field at left, German signatures(Pick 37, TBB B131), in PCGS holder number 64 and 63 PPQ, very choice uncirculated to choice uncirculated (2).

Estimate: £500 - £600