Watch List notes:

(x) Banque Mellie Iran, 'French text issue', printer's design 10 rials, ND (1937), serial number A/1 000000, portrait of Reza Shah facing forward at right, bank name in French, reverse, Alborz mountains, watermark, imperial crown, (Pick unlisted, same portrait type as Pick 35B), in PMG holder, printer's annotation (26.11.37), 64 EPQ Choice Uncirculated, incredibly rare.

Estimate: £7000 - £10000