1 Qiran - Nāṣer al-Dīn Qājār

Nāṣer al-Dīn Shah's reign stretched fifty years — the longest of any Qājār monarch — and the monetary system he presided over was chronically unstable, plagued by debasement cycles and foreign pressure. The qiran itself had been decimalized and restandardized multiple times across his rule, largely at the insistence of European creditors and merchants demanding predictable silver content for trade settlement.

By the early 1890s, the shah had sold the tobacco concession to a British firm, triggering a nationwide boycott that forced him to cancel it at enormous financial cost. Coins of this period circulated against that backdrop of fiscal strain and popular unrest.