Watch List notes:

Iran: Bank Melli Iran, lot with 5 banknotes, SH1316-1317 (1938) series, with 5 Rials 1938 (P.32Aa, F+/VF), 5 Rials 1938 (P.32Aa, F/F-), 5 Rials 1938 (P.32Ad, UNC), 20 Rials 1938 (P.34Aa, VF+/XF) and 50 Rials 1938 (P.35Aa, G with internal and margin splits). Very nice set! (5 pcs.)
[taxed under margin system]