25 Toman - Nāṣer al-Dīn Qājār Golden Jubilee

Struck to mark the fiftieth year of Nāṣer al-Dīn Shāh's reign — one of the longest of any Qājār monarch — this piece was issued just two years before his assassination at the shrine of Shah Abdol-Azim in 1896. The jubilee celebrations themselves were elaborate affairs, and presentation-quality gold pieces of this denomination were central to the ceremonial gifting culture of the Qājār court.

At over 71 grams, this is not a circulation coin in any practical sense. Pieces like this moved between ministers, foreign dignitaries, and courtiers. KM#953 survivors in collectible condition nearly always show handling consistent with that kind of formal presentation rather than commercial use.