Watch List notes:

Bank Melli Iran, 500 rials, AH 1319 (1937), red serial number C 203554, blue and multicoloured, Shah Reza at right, arms at centre, Imperial guardsman at left and right, reverse blue, the grave of Cyrus the Great at centre, Persian text, (Pick 37a), pressed, about very fine and scarce "This lot is subject to import restrictions into certain countries. Please enquire with us before buying.".

Estimate: £120 - £170