Watch List notes:

Iran. Pahlavi. Bank Melli Iran. Specimen 20 Rials. (SH 1311 - 1932). P-20s. 00000. Red on multicolor. Reza Shah portrait at center; Lion and Sun Arms at center. SPECIMEN in black diagonally twice on front, two punch cancel. American Bank Note Co. Uncirculated..

Estimate: $600 - $700