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Auction: 24008 - World Banknotes
Lot: 495

(x) Bank Melli, Iran, [Top Pop] Proof 100 Rials, ND (1937), serial number 000000, in 1920s Iran, where political landscapes were in flux, Bank Melli Iran emerged as a pivotal player. It coincided with the transformative period marked by the ascension of Reza Shah Pahlavi to power in 1925. This era, characterized by sweeping economic policies and a fervent push for modernisation, witnessed the rapid establishment of Bank Melli as a cornerstone in Iran's evolving financial realm. Amidst the political upheaval of the time, Reza Shah Pahlavi seized control through a military coup, embarking on a visionary quest to propel Iran towards modernity. His reign extended from 1925 to 1941 and unfolded against a backdrop of ambitious reforms encompassing secularization, education, and infrastructure development.

Bank Melli, in its nascent years, not only manoeuvred through the intricacies of the financial landscape but also played a pivotal role in supporting Reza Shah's grand vision for a modernised nation, contributing to the broader narrative of Iran's transformation.

During this transformative era, one of the distinctive banknotes issued by Bank Melli is the rare 100 Rials banknote (circa 1937). This rare proof note, featuring an unadopted design, showcases a forward-looking portrait of Reza Shah, setting it apart from its predecessors. On the obverse, the note not only carries the prominent portrait but also showcases Mount Damavand and the Jajrood River, with the denomination and serial number displayed in all corners.

The reverse of the banknote presents French text, a coat of arms with a crown, sun, lion and sword, and fortress ruins. Printed by Thomas de la Rue, this banknote also bares a watermark featuring the likeness of Reza Shah.

Reza Shah faced both support and opposition during his leadership. While he successfully initiated reforms that modernised institutions, his authoritative methods and suppression of dissent invited criticism. The Pahlavi dynasty, established under his rule, set the stage for further transformations under his son, Mohammad Reza Pahlavi. In 1941, under the pressure of British and Soviet forces during World War II, Reza Shah abdicated the throne in favour of his son. His legacy remains a subject of historical reflection, sparking debates about the lasting impact of his reforms and the intricate dynamics of his era in shaping the modern identity of Iran
(Pick 35Bp, BNB 122), in PMG holder 66 EPQ Gem Uncirculated, with specimen perforation, incredibly rare

Subject to 5% tax on Hammer Price in addition to 20% VAT on Buyer’s Premium.

Sold for
£8,000

Starting price
£2000