The Toman: a Persian numismatic guide

Fath-Ali Shah Gold Toman

Fath-Ali Shah Qajar

1797–1834 CE

Heavy gold toman — first figural Iranian coin types in 1100 years on related issues.

Qajar 10 Toman Gold (AH 1314)

Muzaffar al-Din Shah era

c. 1896 CE

Among the largest Qajar gold denominations. Muzaffar al-Din signed the Constitution in 1906.

Mohammad Ali Shah Gold Toman

Mohammad Ali Shah Qajar

1907–1909 CE

Mohammad Ali Shah's brief reign was dominated by his attempt to abolish the Constitution; he was deposed in 1909 and went into Russian exile.

Imperial Bank of Persia — One Toman (1906)

Muzaffar al-Din Shah era

1906

Iran's first true paper currency: the British-chartered Imperial Bank issued notes from 1890 with each branch (Tehran, Tabriz, Isfahan, Bushehr, Yazd, Mashhad, Resht, Shiraz, Kermanshah) issuing non-fungible notes payable only at its own counter.

Naser al-Din Shah 1 Toman Banknote (specimen)

Naser al-Din Shah Qajar

c. 1890

The smallest denomination of the earliest Iranian banknote series.

Naser al-Din Shah 10 Toman Banknote

Naser al-Din Shah Qajar

c. 1890–1923

Mid-range Imperial Bank note; a Tehran-payable 10 toman would not be accepted in Tabriz.

Naser al-Din Shah 25 Toman Banknote (specimen)

Naser al-Din Shah Qajar

c. 1890

High-denomination Imperial Bank note — equivalent to a modest annual salary at issue.

Imperial Bank One Toman — Yazd branch overprint

Naser al-Din / late Qajar

c. 1890–1923

A surviving example illustrating the branch-bound nature of early Iranian paper money.

Naser al-Din Shah Gold Toman — Tehran

Naser al-Din Shah Qajar

1848–1896 CE

Standard one-toman gold piece from the Tehran mint after the 1877 mechanisation. Naser al-Din Shah's three European tours (1873, 1878, 1889) brought back the milling technology and bank-charter ideas that transformed Iranian money.

Naser al-Din Shah 10 Toman Gold

Naser al-Din Shah Qajar

Late 19th century

Heavy ceremonial gold piece — among the largest circulating Iranian gold coins of the 19th century. Rare in collectors' hands; struck primarily for royal gifts and bullion reserve.

Mozaffar al-Din Shah 2 Toman Gold

Mozaffar al-Din Shah Qajar

AH 1313–1324 / 1896–1907 CE

Mozaffar al-Din was the shah who signed the 1906 Constitution five days before his death — the first constitutional monarchy in the Islamic world. His machine-struck gold is well-engraved and relatively common. Image: related Naser al-Din Tehran gold.

Imperial Bank of Persia 5 Toman Banknote

Ahmad Shah Qajar era

c. 1924

Imperial Bank notes were issued payable at specific branches (Tehran, Tabriz, Isfahan, Yazd, Mashhad, Shiraz, Bushehr) — a note payable at one branch could not be cashed at another without exchange. The branch-restriction made counterfeiting harder but limited use. Image: related Imperial Bank Yazd-payable Tuman.

Reza Shah Gold Toman — Tehran (early)

Reza Shah Pahlavi

SH 1305–1309 (1926–1930)

Early Pahlavi gold toman issued before the 1932 currency reform that replaced toman/qiran with the rial. These first issues retained the Qajar-era denomination system briefly.

Islamic Republic 50,000 Rial = 5,000 Toman Note (Redenomination Series)

2021 – present

Phase-one of the planned 1:10,000 redenomination — banknotes carry both 'rial' (legal) and 'toman' (popular) values during transition. Full redenomination implementation was repeatedly delayed.