Watch List notes:

Iran - Imperial Bank of Persia 2 Tomans Pick 12 - issued 1924 to 1932, this piece stamped on obverse across centre in black as follows from top of banknote - Arabic writing, 20th October 1924, oval seal - Arabic writing and stars with lion at centre, "PAYABLE at SHIRAZ ONLY" hence the redemption place is Shiraz, serial number B/Q 071075 in black at all four quadrants of the reverse. Signatures: V.L. Walter & M.Murrey, PMG Very Fine 20 NET, Internal Splits, and a first year of issue. Printed by Bradbury, Wilkinson & Co. Ld. Graveurs New Malden Surrey Angleterre inscribed in small script at lower centre margin on obverse and Bradbury Wilkinson & Co. Ld. London on reverse. The banknote is in green on multicolour underprint on obverse featuring a portrait of Shah Muzaffar ad-Din at right and blue/light red gradient reverse with Large 2 at centre, watermark: Lion and sun. Rare denomination due to the "2" denomination not being popular in Persia at the time, hence reducing its issuance.

Estimate: 500-700 GBP