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500 Rials

Issuer Bank Markazi Iran
Year 1979
Type Standard circulation banknote
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Obverse description The obverse is printed in dark intaglio over a light peach guilloche underprint with multicolour dot and floral rosette patterns, with the issuer's name in Persian script (بانک مرکزی ایران) set in a cartouche at upper centre and flanked by ornate bird-head border motifs at each corner. A large elaborate arabesque vignette occupies the right field, while the denomination پانصد ریال is inscribed in bold Nastaliq calligraphy at centre alongside a calligraphic Islamic Republic of Iran identification at left. Two facsimile signatures with their respective titles appear at centre-lower.
Obverse lettering بانک مرکزی ایران
پانصد ریال
جمهوری اسلامی ایران
وزیر امور اقتصادی و دارایی
رئیس کل
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Comments

This is P-104 — the Shah-era 500 Rial note — overprinted to legitimize it for circulation under the new Islamic Republic following the February 1979 revolution. Two distinct signature combinations exist because the transitional government cycled through central bank governors and finance ministers rapidly in its first months; Mehran and Ansari represent the earliest post-revolution appointments, while Khoshkish and Yeganeh reflect a subsequent reshuffle.

The decision to overprint existing De La Rue stock rather than issue entirely new notes was driven by necessity — redesigning and commissioning new currency takes time a revolutionary government didn't have.

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