100 rials 1944
Market Prices
4 salesAbout This Note
This is a Fine-grade example of Iran's 1944 100 Rial note (Pick P-44), issued by Bank Melli Iran during the reign of Shah Mohammad Reza Pahlavi. The note displays characteristic purple and orange tones with ornate Persian design elements, a military portrait of the Shah, and the prominent Sassanian architectural landmark on the reverse. Despite visible creasing, fold marks, and age-related discoloration typical of circulated historical currency from this era, the note retains its detailed engraving and decorative security elements.
Common. This Pick 44 note appears regularly in the numismatic market at modest prices. eBay sales data shows Fine-graded examples selling in the $12-31 range (2012-2022), and even professionally graded PMG 35 specimens achieving $356 (reflecting grading premium rather than note rarity). The 2016 catalog value for Fine condition is substantially higher ($175) than actual realized market prices, suggesting good availability. The regular issue status and apparent adequate print run for the period indicate this is a commonly encountered note for collectors.
This banknote was issued during World War II, a pivotal period in Iran's modern history under the Pahlavi dynasty. The front features Shah Mohammad Reza Pahlavi in military uniform, symbolizing the monarch's authority during a time of foreign occupation and internal consolidation of power. The reverse depicts the ancient Sassanian bridge and dam at Dezful, connecting Iran's pre-Islamic Persian heritage to the modern nation-state, a common propagandistic theme of the Pahlavi era's nationalist ideology.
The obverse features Shah Mohammad Reza Pahlavi in left-facing profile, wearing a military peaked cap and uniform, positioned at the right side of the note. The center showcases an elaborate stylized floral/botanical design in red and orange tones, characteristic of Persian artistic tradition. The reverse depicts Sassanian-era barrel-vaulted stone arches and ruins at Dezful with decorative brickwork, set in an arid landscape. Both sides are framed by ornate borders incorporating geometric patterns, floral motifs, and fine-line engraving throughout, rendered in purple, brown, and tan tones. Four decorative oval cartouches on the reverse contain textual elements.
Front: 'بانک ملی ایران' (Bank Melli Iran / National Bank of Iran), '۱۰۰' (100), 'صد ریال' (One Hundred Rials), with serial number '۰۹۲۰۸' and variant '۰۹۲۰۸ع'. Back: 'بانک ملی ایران' (Bank Melli Iran), 'صد ریال' (One Hundred Rials, repeated in corner cartouches). All text appears in Persian script with Persian numerals.
Intaglio/engraved printing with fine-line security patterns and cross-hatching throughout. The note was printed by Harrison & Sons (H&S), a renowned British security printer, as noted in the PMG population data. The detailed architectural rendering, ornate borders, and complex cross-hatching patterns are characteristic of high-security banknote production from this period. No printer imprint appears on the note itself, which is consistent with some Harrison & Sons work of this era.
PMG has catalogued one variant for Pick P-44 under the H&S printer attribution. The observed serial number format (۰۹۲۰۸ع with letter suffix) may represent a specific serial series, though without comparison examples, confirmation of distinct varieties cannot be made from this single specimen. Standard obverse portrait variety (Shah Pahlavi in military uniform) and reverse landmark (Dezful bridge/dam) are consistent with the primary issued design. No overprints or commemorative markings are evident.
