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10 000 Rials - Rezā Pahlavī 3rd. portrait, French text on reverse
| Issuer | Bank Melli Iran |
|---|---|
| Year | 1937 |
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| Currency | Second Rial (1932-date) |
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| Obverse description | Blue and yellow tints over a multicolor guilloche underprint. A central vignette presents a portrait of Shah Reza Pahlavi; a building appears at left and ancient ruins at right. Persian inscriptions identify the issuing bank, denomination, and the Iranian calendar year 1316. |
|---|---|
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| Protection description | Portrait of Shah Reza. |
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| Comments |
Bank Melli Iran was established in 1927 specifically to displace the British-owned Imperial Bank of Persia, which had held the exclusive right to issue banknotes since 1889. This note, printed by De La Rue in London for the institution that replaced a British monopoly, carries a certain irony the issuing authorities almost certainly recognized. The French text on the reverse reflects Iran's deliberate policy of using a neutral European language rather than English on official currency — a quiet but pointed diplomatic choice during Reza Shah's push to reassert Persian sovereignty.
P#38B is among the scarcer variants of the 10,000 Rial series, issued at a denomination that would have represented a very substantial sum in 1937 Iran.