Reza Shah reformed currency in 1932: the rial replaced the qiran (1 toman = 10 rial). Bank Melli took over note issuance in 1932. Pahlavi era includes commemoratives for the 2500-year celebrations and FAO series.
1932: rial established at 1 rial = 100 dinars; pahlavi gold coin (~8.13 g, .900) issued as bullion.
Bank Melli (founded 1928) issued banknotes from 1932 to 1961; Bank Markazi (central bank) took over from 1961.
Mohammad Reza Shah's 1971 Persepolis ceremonies were marked by spectacular commemorative gold and silver issues celebrating 2500 years of monarchy.
Reza Shah Pahlavi
ObverseBust left in military uniform.
ReverseLion-and-Sun with crown, value '1 Pahlavi'.
Successor bullion coin to the toman. Still traded today as Iran's gold investment standard.
Mohammad Reza Shah
ObverseBust right.
ReverseLion-and-Sun, value.
Minted in 1/4, 1/2, 1, 2½, 5 and 10 pahlavi denominations.
Mohammad Reza Shah
ObverseShah bust.
ReverseCyrus and Persepolis motifs.
Issued for Persepolis ceremonies celebrating 2500 years of Persian monarchy.
Mohammad Reza Shah
ObverseReza Shah and Mohammad Reza Shah motifs.
ReverseQuote about Bank Melli.
Late-Pahlavi commemorative — part of the broader commemorative-coin output that includes the FAO 'Money Coin' series.
Reza Shah
ObverseReza Shah portrait, denomination.
ReverseMount Damavand vignette.
First series of Bank Melli notes featuring the new shah.
Mohammad Reza Shah
ObverseShah portrait in military dress.
ReverseGolestan Palace / national landmark vignette.
Workhorse high-denomination note from the late 1960s oil-boom era, issued by the newly-founded Central Bank of Iran (Bank Markazi).
Reza Shah Pahlavi
ObverseReza Shah in military uniform; ornate guilloché frame.
ReverseAnahita temple / national landmark vignette.
High denomination of the first Bank Melli series under Reza Shah — equivalent to a substantial sum in the 1930s.
Reza Shah Pahlavi
ObverseReza Shah portrait; denomination in Persian and English.
ReversePersepolis bull capital.
Highest denomination of the Reza Shah series; rare in collectible grade.
Mohammad Reza Shah
ObverseShah in military dress with Pahlavi crown.
ReverseSarvestan palace ruins.
From the late-Pahlavi 'imperial calendar' (Shahanshahi) series — controversially replaced the Islamic calendar in 1976.
Mohammad Reza Shah
ObverseShah portrait, denomination.
ReversePasargadae / Cyrus's tomb.
Mid-high denomination of the final Bank Markazi Pahlavi series before the 1979 revolution.
Mohammad Reza Shah
ObverseShah portrait in ceremonial dress; denomination in Persian and English.
ReverseTomb of Cyrus the Great at Pasargadae.
Highest denomination of the final Pahlavi series — printed on the eve of the 1979 revolution; many were later overprinted with arabesques to cover the Shah's portrait.
Mohammad Reza Shah
ObverseJoint portrait of Reza Shah and Mohammad Reza Shah.
ReverseCommemorative legend marking 50 years of the Pahlavi dynasty.
Special commemorative note for the half-centennial of the dynasty founded by Reza Shah in 1925.