1000 rials 1938

Common. While this is a pre-World War II banknote from Iran with inherent collector appeal, the 1000 Rials denomination was issued in substantial quantities for regular circulation. eBay historical price data shows consistent sales in the $180-$310 range for VF examples over the past decade, with catalog values listing VF at $1,000 (2016), indicating stable but not extraordinary market demand. The note is not scarce; multiple examples appear regularly in the secondary market. The PMG population report shows multiple catalogued varieties (P-38Aa, Ad, Ae, As, c), further suggesting adequate surviving examples. Common condition grades and serial numbers are routinely available to collectors.

Issued during the reign of Reza Shah Pahlavi (r. 1925-1941), this banknote reflects the modernization efforts and national pride of early 20th-century Iran. The obverse depicts Reza Shah in formal military regalia, symbolizing his role as a reformer and military modernizer, while the reverse features Mount Damavand, Iran's highest peak and a prominent symbol in Persian culture and national identity. The Bank Melli Iran, founded in 1927, issued this currency as part of establishing a modern, centralized monetary system for the newly reformed nation.

The obverse features a formal three-quarter portrait of Reza Shah Pahlavi positioned on the right side, depicted as a bald military figure wearing a decorated uniform with medals and insignia, facing leftward. The center of the note contains an ornate circular medallion housing a classical figure, likely representing justice, authority, or a mythological figure from Persian tradition. The entire design is framed by elaborate geometric and floral border patterns in green and black with fine guilloché work. The reverse depicts Mount Damavand, Iran's 5,609-meter volcanic peak, rendered as a snow-capped mountain dominating the landscape with a traditional pitched-roof building in the foreground and agricultural fields, symbolizing Iran's natural patrimony and rural character. The landscape demonstrates skilled engraving technique with careful attention to topographical detail and atmospheric perspective.

Front: The Persian text 'بانک ملی ایران' translates to 'Bank Melli Iran' (National Bank of Iran); 'هزار ریال' translates to 'One thousand rials.' Serial number 'B160375' appears in Western Arabic numerals on both left and right sides. Back: 'بانک ملی ایران' again reads 'Bank Melli Iran'; 'هزار ریال' repeats 'One thousand rials' at top and bottom; 'دماوند' identifies the mountain as 'Damavand.' All text is rendered in Persian script, consistent with nationalist monetary policy of the era.

This note was produced using intaglio (engraved) printing, the standard security printing method for banknotes of this era. The fine line work, guilloché patterns, geometric borders, and portrait rendering all demonstrate high-quality steel plate engraving with multiple color passes. The note's multi-color composition (green primary with brown, red, black, and cream accents) indicates sequential color printing typical of 1930s-era European security printers who contracted with Middle Eastern central banks. Bank Melli Iran typically employed contracts with established European engravers for their early currency series.

This note is catalogued as Pick P-38Aa, which according to reference data represents the variant with French text on the back. The catalog reference distinguishes P-38A (without French text on back) and P-38Aa (with French text), indicating this is a French-text variant. The serial number B160375 is a standard Western numerals format. The note exhibits the characteristic design elements consistent with the 1938 Bank Melli issue: green on multicolor underprint, three-quarter portrait of Reza Shah without cap, and the Mount Damavand reverse. The PMG population data confirms multiple variants exist for this base denomination and year, with P-38Aa being one of at least five documented varieties.