Watch List notes:

(x) Imperial Bank of Persia, colour trial 5 tomans, Teheran, ND (1924), specimen number 470, blue, mauve and pale green, Shah Muzzafar-al-Din at right, value at centre, and each corner, two printed signatures at lower left and right, reverse, blue and white, value at centre, left, and each corner(Pick 13ct), red SPECIMEN WATERLOW & SONS LTD, at left and right, in PCGS holder 64 PPQ Very Choice New.

Estimate: £4,500 - £6,000