100 rials 1938
About This Note
An attractive example of Iran's early Bank Melli Iran 100 Rials from 1938 (SH 1316), displaying the characteristic brown and tan color scheme typical of this series. The note features a portrait of Reza Shah Pahlavi in military uniform on the obverse and an imperial maritime scene with steamship and sailing vessel on the reverse, both surrounded by ornate Persian geometric and floral designs. In VG condition, the note shows expected aging with creasing, foxing, and circulation wear, with a visible stamp mark on the reverse, making it a historically significant example of Iran's mid-Pahlavi era currency.
Common. The 100 Rials denomination was a standard circulation note issued in substantial quantities by Bank Melli Iran during the 1930s. Despite its age and historical interest, examples survive in moderate numbers in various grades. VG condition examples are regularly encountered in the collector market and do not command premium pricing, indicating healthy survival rates from the original print run.
This 100 Rials note was issued during the reign of Reza Shah Pahlavi (r. 1925-1941), a period of modernization and centralization of Iranian banking under Bank Melli Iran, established in 1927. The obverse depicts the Bank Melli Iran building in Tehran, symbolizing the institutional modernization of the nation's financial system, while the reverse's imperial yacht and dhow represent Iran's maritime heritage and commercial aspirations during this period of relative stability and development.
The obverse features a formal three-quarter profile portrait of Reza Shah Pahlavi facing left, depicted in full military uniform with visible medals and decorations, positioned on the right side of the note. The central element is the neoclassical Bank Melli Iran building in Tehran, a three-story institutional structure with regular fenestration, symbolizing modern banking infrastructure. An ornamental state coat of arms or emblem with geometric and floral motifs occupies the top center. The reverse depicts an imperial maritime scene with a steamship (likely representing modern naval power) as the dominant vessel, accompanied by a traditional sailing dhow, both navigating stylized waters with palm trees and crowds of people visible on the shores, flanked by a lion with radiating sun rays (the lion and sun, Iran's traditional royal symbol) on the left panel. All design elements are surrounded by elaborate decorative borders featuring geometric patterns, floral wreaths, and ornamental flourishes in the corners.
Front: بانک ملی ایران (Bank Melli Iran / National Bank of Iran); صد ریال (One Hundred Rials); Serial number 7541402 (repeated). Back: بانک ملی ایران (Bank Melli Iran / National Bank of Iran); صد ریال (One Hundred Rials - repeated three times across the design). Note: The catalog reference indicates French text appears on some variants of this note; this example shows Persian text only.
Intaglio engraving (recess printing), evidenced by the fine line work, intricate border designs, detailed maritime scene engraving, and the characteristic appearance of banknote-quality security printing typical of European security printers of this era. Bank Melli Iran engaged established European security printers for its early currency issues; this note likely originates from De La Rue or a similar London-based security printer common for Iranian currency production in the 1930s.
This example corresponds to Pick P-36A based on the noted presence of 'Bank Melli Iran' text on the reverse and Persian-only inscriptions (without the French text variant noted in the catalog reference for similar notes). The catalog data suggests variants exist with and without French text on the reverse; the visual analysis shows Persian text only, consistent with the P-36A designation. Serial number 7541402 is specific to this individual note. No signature varieties or obvious overprints are noted in the visual analysis, suggesting this is a standard issue example of the P-36A variety.
