Watch List notes:

Imperial Bank of Persia, 25 Tomans ND (1890-1923), SPECIMEN, serial number G 19001 G24000, green, pink and black, Nasr-ed-Din at right, Persian coat of arms left, value at centre and in corners, reverse green, coat of arms centre, value in corners, punched CANCELLED,, (Pick 6s), in PMG holder 53 About Uncirculated (edge wear, previously mounted, printer's annotations), annotation dated 1 June 1904, rare and beautiful and one of only two examples graded by PMG.

Estimate: £4,500 - £5,000