The Banque Mellié Iran was established in 1928 specifically to break the British Imperial Bank of Persia's monopoly on note issuance — a monopoly that had been commercially exploited for decades. This 1,000 Rial note belongs to the early period of genuinely independent Iranian central banking, when Harrison & Sons in London were the preferred printer for high-denomination issues requiring intaglio-quality work.
The dual denomination — Rials and Pahlavis — reflects Reza Shah's currency reforms, with the Pahlavi unit introduced as a prestige denomination tied to gold equivalence. By the time British and Soviet forces occupied Iran in 1941 and deposed Reza Shah, notes of this series were already being withdrawn.
The Banque Mellié Iran was established in 1928 specifically to break the British Imperial Bank of Persia's monopoly on note issuance — a monopoly that had been commercially exploited for decades. This 1,000 Rial note belongs to the early period of genuinely independent Iranian central banking, when Harrison & Sons in London were the preferred printer for high-denomination issues requiring intaglio-quality work.
The dual denomination — Rials and Pahlavis — reflects Reza Shah's currency reforms, with the Pahlavi unit introduced as a prestige denomination tied to gold equivalence. By the time British and Soviet forces occupied Iran in 1941 and deposed Reza Shah, notes of this series were already being withdrawn.