Watch List notes:

Iran. Pahlavi. Bank Melli Iran. Specimen 50 Rials. SH 1316 (1937). P-35s. A/I 000000. Green on multicolor. Bare-headed Reza Shah ¾ left at right, Mt. Damavand at left; Ancient ruins, French text. SPECIMAN No. 11 lower left front edge; red DE LA RUE & CO, LTD SPECIMAN CANCELLED oval lower right. AU..

Estimate: $400 - $500