Watch List notes:

World Currency
Iran German Military WWI 25 Kran on 10 Mark 6.10.1906 Pick M2 PMG Extremely Fine 40. During World War I, German forces occupied parts of central Persia in the hopes that other European troops would divert attention to Germany's new presence in the area. Banknotes were overprinted and issued in the area in two series over a two year span. The majority of banknotes were redeemed within a few years and few survived to be enjoyed by collectors today. The overall quality of this example is quite good and so seldom does this type appear in any grade that this is an important opportunity not to be overlooked. From the The Ibrahim Salem Collection of Islamic Countries Part I https://currency.ha.com/itm/world-currency/iran-german-military-wwi-25-kran-on-10-mark-6101906-pick-m2-pmg-extremely-fine-40/a/4041-24215.s?type=DA-DMC-CoinArchivesCurrency-WorldPaperMoney-4041-11152022 HID08706262019 © 2022 Heritage Auctions | All Rights Reserved

Estimate: 3200-4800 USD