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10 Rials

Issuer Bank Markazi Iran
Year 1961
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Size 130 × 67 mm
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Obverse description Blue on green with orange underprint. A central guilloche vignette is flanked by ornamental geometric designs, with a Type V portrait of Shah Mohammad Reza Pahlavi in military uniform at right. The issuing authority inscription in Farsi appears at top, with denomination indicated in numerals within the overall decorative framework.
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Protection description Young Shah Pahlavi portrait watermark
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Comments

Bank Markazi Iran — the central bank — was established by law in May 1960, replacing the Bank Melli Iran in its note-issuing function. This 10 Rials note, issued in 1961, belongs to the very first series released under the new institution, making it an early output of what was effectively a newly constituted monetary authority. Harrison & Sons had a long-standing relationship with Iranian note production going back decades, and the High Wycombe plant handled much of the Shah-era output through this period.

Watermark security on these early Bank Markazi issues was relatively modest by the standards Harrison applied to other clients at the time.