The Rial: a Persian numismatic guide
The rial, Iran's currency unit since 1932, in coin and banknote form. 29 catalogued examples spanning Qajar Dynasty, Pahlavi Dynasty, Islamic Republic.
In short
The rial has been the official currency of Iran since 1932, issued in coin and banknote form by Bank Melli and, after 1960, Bank Markazi Iran. The Rial is a Persian and Iranian denomination represented by 29 catalogued examples dated 1317 CE – 2535 CE. The rial, Iran's currency unit since 1932, in coin and banknote form. Examples here are struck in Paper money, Cupro-nickel, Silver and 1 more at mints including Imperial Bank of Persia (printed by Bradbury Wilkinson, London), Imperial Bank of Persia – Yazd branch, Imperial Bank of Persia (London-printed, Bradbury Wilkinson) and 5 more.
- Catalogued
- 29
- Eras
- 3
- Metals
- 4
- Denominations
- 3
Key facts
| Catalogued pieces | 29 |
|---|---|
| Date range | 1317 CE – 2535 CE |
| Eras represented | Qajar Dynasty, Pahlavi Dynasty, Islamic Republic |
| Metals | Paper money, Cupro-nickel, Silver, Bronze |
| Denominations | Toman, Rial, Pahlavi (coin) |
| Mints | Imperial Bank of Persia (printed by Bradbury Wilkinson, London), Imperial Bank of Persia – Yazd branch, Imperial Bank of Persia (London-printed, Bradbury Wilkinson), Bank Melli Iran (printed by Harrison & Sons, London), Bank Markazi Iran, Bank Melli Iran, Tehran, Bank Markazi Jomhuri Eslami Iran |
| Issuers | Muzaffar al-Din Shah era, Naser al-Din / late Qajar, Ahmad Shah Qajar era, Mohammad Reza Shah, Reza Shah, Reza Shah Pahlavi, Transitional issue, Islamic Republic |
Origins of the name
Rial derives from the Spanish real, which reached the Persian Gulf through Portuguese and Spanish trade and gave its name to currencies from Morocco to Oman. An earlier Safavid silver rial existed in the seventeenth century; the modern unit dates from the reform of 1932, which replaced the qiran at parity.
Coins and notes
Pahlavi-era rial coins run from the 1932 silver issues through the cupro-nickel 1, 2, 5, 10 and 20 rial pieces of the 1970s bearing Mohammad Reza Shah. After 1979 the portrait was replaced by the Islamic Republic emblem, inscriptions and monuments such as the shrine of Imam Reza.
Banknotes follow the same break. Pre-revolutionary notes carry the Shah's portrait and were widely overprinted after 1979; the overprinted transitional notes are a distinct and popular collecting area.
Collecting notes
Modern rial coins are common and inexpensive in circulated grade; value concentrates in early silver dates, proofs, error strikes and high-grade uncirculated examples. For banknotes, condition dominates price — a crisp uncirculated note can be worth many multiples of the same design with folds.
Qajar Dynasty · 1789 – 1925 CE
Era overview →Pahlavi Dynasty · 1925 – 1979 CE
Era overview →Islamic Republic · 1979 – present
Era overview →Frequently asked about Rial
- What is an Iranian rial coin?
- A coin denominated in rials, Iran's official currency since 1932, issued in silver and later cupro-nickel under the Pahlavi shahs and in base metal under the Islamic Republic.
- Are old Iranian rial coins valuable?
- Most circulated modern rials are common. Early 1930s silver issues, proofs, errors and uncirculated examples carry real premiums.
- What is a Rial?
- The Rial is a Persian and Iranian denomination represented by 29 catalogued examples dated 1317 CE – 2535 CE. The rial, Iran's currency unit since 1932, in coin and banknote form. Examples here are struck in Paper money, Cupro-nickel, Silver and 1 more at mints including Imperial Bank of Persia (printed by Bradbury Wilkinson, London), Imperial Bank of Persia – Yazd branch, Imperial Bank of Persia (London-printed, Bradbury Wilkinson) and 5 more.
- How many Rial pieces are catalogued on Persian Treasury?
- 29 items, dated 1317 CE – 2535 CE, spread across 3 eras: Qajar Dynasty, Pahlavi Dynasty, Islamic Republic.
- Which metals were used for Rial coinage?
- Paper money, Cupro-nickel, Silver, Bronze. Each entry records the metal, the approximate weight where known, and a cited reference.
- Where were Rial coins minted?
- Recorded mints include Imperial Bank of Persia (printed by Bradbury Wilkinson, London), Imperial Bank of Persia – Yazd branch, Imperial Bank of Persia (London-printed, Bradbury Wilkinson), Bank Melli Iran (printed by Harrison & Sons, London), Bank Markazi Iran, Bank Melli Iran.