10 Shahi - Nāṣer al-Dīn Qājār

Nāṣer al-Dīn Shāh had ruled Iran for nearly half a century by the time this issue appeared, financing his reign partly through the sale of commercial concessions to European powers — a practice that had already provoked the Tobacco Protest of 1891–92, in which a nationwide boycott forced him to cancel a monopoly granted to a British firm. That crisis, resolved just months before this coin's minting, marked one of the first successful mass movements against Qajar authority and foreshadowed the Constitutional Revolution of 1906.

The .900 fineness reflects a standardization push tied to Iranian monetary reforms of the 1870s under Nāṣer al-Dīn's finance administration.