10 rials 1948

Common. This is a regular issue of a major Iranian denomination from the early Pahlavi period with likely substantial print run. eBay market data shows consistent sales in the $10–$32 range across multiple condition grades over the 2012–2019 period, with AU/AUNC examples selling for $24–$48. Catalog 2016 valuations list UNC at $30, confirming it as a readily available note in the collector market. No evidence of rarity based on print run, recall status, or market scarcity.

Issued in 1948 during the reign of Mohammad Reza Shah Pahlavi, this note represents the modernization period of Iran's currency under the Pahlavi dynasty. The depicted Shah in military uniform symbolizes the post-World War II period when Iran was reasserting national sovereignty and military strength. The reverse's incorporation of the ancient Simurgh mythological motif from Tagh-i-Bostan (a Persian rock relief site) reflects Iran's effort to connect contemporary currency with its pre-Islamic and Sassanid cultural heritage, a hallmark of Pahlavi-era nationalist imagery.

The obverse features a formal three-quarter profile portrait of Shah Mohammad Reza Pahlavi wearing an ornately decorated military dress uniform with embellishments, positioned at the right side of the note. The left-center showcases an elaborate geometric mandala pattern with concentric rings of floral and mathematical designs in light blue and pink against a purple/violet background, framed by an intricate decorative border with corner ornaments. The reverse is dominated by a finely engraved intaglio rendering of the Simurgh—the legendary winged creature from Persian mythology immortalized in the Tagh-i-Bostan rock reliefs—depicted in profile facing right with elaborately detailed feathered wings and surrounded by geometric flourishes. A circular element appears beneath the creature. Both sides feature Persian script at top and bottom with bilingual elements on the reverse.

Front: 'بانک ملی ایران' (Bank Melli Iran), 'دو ریال' (Two Rials) — Note: visual analysis indicates Persian text reading 'دو ریال' (Two Rials) on front, though catalog specifies 10 Rials denomination. Serial numbers appear in Persian numerals (۲۶/۵۴۱۲۸۲). Back: 'Bank Melli Iran' (in Latin/English script), 'دو ریال' (Two Rials in Persian), '۱۰' (10 in Persian numerals). The discrepancy between 'Two Rials' inscription and 10 Rials catalog designation may indicate a visual analysis transcription issue or a design element variance.

Intaglio (copperplate) engraving, evidenced by the fine line work, intricate cross-hatching, detailed shading, and ornamental precision visible throughout both obverse and reverse. The security features include engraved border patterns, corner ornaments, and the high definition of both the portrait and mythological creature. Printer: Harrison & Sons (H&S), a renowned British security printer. No printer imprint appears on the note itself, which was standard practice for this series.

PMG population report indicates one cataloged variant for Pick P-47 with printer designation H&S (Harrison & Sons). The note examined is consistent with the standard 1948 issue. Serial number format (Persian numerals) and the absence of printer imprint on the face are consistent with Harrison's production for Bank Melli Iran during this period. No overprints or distinguishing marks indicating a scarce variety are apparent from the visual analysis.