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20 Rials Mohammad Rezā Pahlavī

Issuer Bank Markazi Iran
Year 1964
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Value 20 Rials (20 IRR)
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Protection type Watermark
Protection description Shah Mohammad Reza Pahlavi's portrait, visible in the blank oval reserve on the left of the obverse.
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Comments

By 1964, Bank Markazi Iran had settled into a productive relationship with Harrison & Sons, who handled much of the Shah's note production through the 1960s and into the 1970s. Harrison's intaglio work during this period was technically accomplished, and their High Wycombe facility handled sovereign contracts across dozens of countries simultaneously — Iran was one of the more consistent clients.

Pick 78 belongs to a series that ran across several signature combinations, and the specific pairing of signatories is the primary variable distinguishing catalog varieties within this type. Worth confirming before cataloging further.