5 Cents N.C.O. Open Mess

N.C.O. Open Mess scrip was issued by non-commissioned officers' clubs at U.S. military installations abroad to keep American dollars off local black markets — a persistent problem in Iran, where the rial's official exchange rate diverged sharply from street rates throughout the 1960s and 70s. By forcing on-base transactions through scrip, the military could theoretically prevent personnel from converting dollars at unofficial rates and then spending the proceeds in local bazaars.

The Tehran mess operated under this system until the 1979 revolution abruptly ended the U.S. military presence in Iran. Notes that weren't redeemed before evacuation simply became worthless — which accounts for why unredeemed low-denomination pieces like this one occasionally surface in collections.