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100 Rials
| Issuer | Bank Melli Iran |
|---|---|
| Year | 1951 |
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| Size | 170 x 100 mm |
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| Obverse description | Printed in carmine-red on a light ground, the obverse carries a portrait vignette of Shah Mohammad Reza Pahlavi at right, rendered in fine intaglio. A central guilloche panel is overlaid with a Simurgh (mythical Persian bird) motif as underprint. The denomination صد ریال appears in bold Persian script at center, with the bank title بانک ملی ایران across the top, serial numbers at all four corners, and two manuscript signatures below the central vignette. |
|---|---|
| Obverse lettering | بانک ملی ایران صد ریال ۱۰۰ |
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| Comments |
Pick 62 was issued under the early reign of Mohammad Reza Shah, at a moment when Iranian oil politics were rapidly destabilizing. The nationalization crisis was already building — AIOC would be expelled the following year — and the government was printing currency against increasingly strained foreign reserves. Bank Melli, the state bank since 1928, had no independent monetary policy to speak of; note issuance was directly subordinate to treasury pressure.
The watermark security on this series is relatively simple by contemporary international standards, reflecting the printing technology available to Iran's domestic production at the time.