Watch List notes:

(x) Imperial Bank of Persia, specimen 20 Tomans, ND (1890 - 1923), F/B 00000, black on green and pink underprint with portrait of Nasr-ed-Din at right and lion at left, values to corners and reverse orange with ornamental guilloche and lion to centre, text PAYABLE AT TEHERAN ONLY above and numbers F/A23001 and F/B08000 to lower-left and upper-right respectively,(Pick 5s), in PCGS holder 64 Very Choice New, Perforated Cancelled, pencil annotation 'Delivered April 1910' in upper-left margin.

Estimate: £4,000 - £4,500