Watch List notes:

Iran - Imperial Bank of Persia 1 Toman P11 - issued 1924 to 1932, this piece stamped on obverse across centre in black as follows from top of banknote - Arabic writing, 29th January 1925, oval seal - Arabic writing and stars with lion at centre, "PAYABLE at HAMADAN ONLY" hence the redemption place is Hamadan, serial number A/T 003735 in black at all four quadrants of the reverse, Signatures: V.L. Walter & M.Murrey, PMG 25 VERY FINE and one of the earlier issued examples. Printed by Waterlow & Sons Limited, London Wall, London the banknote is in black on light green/pink underprint on obverse featuring a portrait of Shah Muzaffar ad-Din at left and green on pink underprint reverse with written denomination at centre, watermark: Lion and sun.

Estimate: 750-1250 GBP