Watch List notes:

IRAN: Reza Shah, 1925-1941, 25 dinars, SH1310, KM-1125, one year type struck in 1931 with new minting machinery supplied by Germany, PCGS graded MS63. "The Persian parliament had approved on 16 February 1931 a loan to the ministry of trade and industry to meet the capital expenditure required for the establishment of a mint. The machinery and required equipment for this new mint had been ordered in Germany. Moreover, in February 1931 two German experts were appointed to run the operations of the mint."

Estimate: 125-175 USD