Watch List notes:

Iran - Imperial Bank of Persia 10 Tomans Pick 14 - issued 1924 to 1932, this piece stamped on obverse across centre in black as follows from top of banknote - Arabic writing, 8th June 1925, oval seal - Arabic writing and stars with lion at centre, "PAYABLE at SHIRAZ ONLY" hence the redemption place is Shiraz, serial number D/E 076585 in black at all four quadrants of the reverse. Signatures: V.L. Walter & M.Murrey, PMG Choice Fine 15 NET, Edge Damage, and one of the earlier issued examples. Printed by Waterlow & Sons Limited, London Wall, London inscribed in small script at lower centre margins both on obverse and reverse. The banknote is in blue on light Salmon orange and multicolour underprint on obverse featuring a portrait of Shah Muzaffar ad-Din at right and red reverse with Large 10 at centre, watermark: Lion and sun.

Estimate: 700-900 GBP