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Intaglio portrait of Shah Mohammad Reza Pahlavi in military uniform within an oval vignette at right, set against a multicolour guilloche underprint in pink, blue, and green. A large unprinted 'light panel' oval occupies the left half of the note, with the bank title in Persian script within an ornate cartouche at top centre and the denomination in Persian script at centre. Two pairs of serial numbers are printed in red at the four corners, with two facsimile signatures reproduced at centre below the denomination. |
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Central intaglio vignette of the Koohrang Dam and its associated infrastructure in Chaharmahal and Bakhtiari Province, rendered in green, with mountains and reservoir visible in the background and a bridge in the foreground. The bank title 'BANK MARKAZI IRAN' is lettered in Latin script within a dark rectangular panel at top centre, with the denomination 'RIALS 50' in a bordered panel at foot centre. A large unprinted light panel oval appears at right, and intricate floral guilloche borders frame the composition on all sides. |
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The 1971 date places this note in the period immediately following the Shah's extravagant 2,500-year celebration of the Persian Empire at Persepolis — a moment of peak imperial self-confidence for the Pahlavi regime. Bank Markazi had been established only in 1960, replacing the British-influenced Bank Melli as the central issuing authority, and Harrison & Sons had become its preferred printer for the prestige series.
The "light panel" designation distinguishes this from the later, visually heavier printing variants of P#90 — a subtle but cataloguable difference that affects scarcity. Collectors routinely conflate the two.