Watch List notes:

Iran. Pahlavi. Bank Melli Iran. Specimen 100 Rials. (SH 1311 - 1932). P-22s. 00000. Purple on multicolor. Reza Shah portrait at right, Persepolis at left; Numeral value center. SPECIMEN in black twice diagonally on front, two punch cancel. American Bank Note Co. Edge bunching back left. EF..

Estimate: $500 - $600