Watch List notes:

(x) Banque Mellie Iran, obverse and reverse archival photographs showing designs for a 50 rials, 1935, the front of this design has been updated with a new engraved portrait and a significantly updated central guilloche. The new bank name is also present on the reverse.two small damaged areas on the obverse and one on the reverse, otherwise very good condition (2).

Estimate: £400 - £500