Watch List notes:

HEJAZ & NEJD: 'Abd al-'Aziz b. Sa'ud, 1926-1932, AR riyal, Makka al-Mukarrama (Mecca), AH1348, KM-12, superb example, bold strike, the only example graded mint state (MS) by either NGC or PCGS, and possibly the finest known specimen, PCGS graded MS62, RRR. The only other example of this date listed on CoinArchvies as uncirculated was sold in our Auction 27, Lot 1002. Both that example and this piece show some barely noticeable die breaks, one from the rim above the latter "J" of the city name "al-hijaz", the other circular, extending from the beginning of "al-hijaz" to the end of "nejd". Both examples were struck in high-relief quality, whereas most other examples were struck from dies of lower relief. My theory is that the first dies, or high-relief, lasted only a very short time, and were replaced by dies of lower relief that were more appropriate for the presses available at Makka.

Estimate: 1,400-1,700 USD