Watch List notes:

IRAN. QAJAR DYNASTY. Imperial Bank of Persia. Five Tomans, 1890-1923. P-3s. Specimen. Printer: BWC. Printed by BWC. This rare note will grab the attention of all collectors of Persian rarities. Great details of the intricate under-print are observed with nice clarity of the portrait and lion at left. Clear overprints and nice brown inks making up the reverse design. Perforated specimen punched through the reverse. Previously Mounted. An exceptional piece. PMG Choice Uncirculated 63.