5 rials 1944
Market Prices
17 salesAbout This Note
This is an exceptional uncirculated specimen of Iran's 5 Rials note from 1944, issued by Bank Melli Iran during the reign of Shah Mohammad Reza Pahlavi. The note displays pristine condition with crisp, sharp engraving throughout and no signs of circulation, featuring a striking portrait of Shah Pahlavi in military uniform on the obverse and the architecturally significant Tomb of Daniel at Susa on the reverse. The reddish-brown color scheme combined with delicate pink and green underprinting creates a visually distinctive design characteristic of Harrison's fine banknote engraving work from this period.
Common. The eBay price history provided shows typical market prices ranging from $7–$124.50 depending on condition, with most circulated examples selling in the $8–$20 range. The 2016 catalog valuation of $35 for UNC grade, combined with regular appearance in the secondary market and multiple PMG-graded specimens on record, confirms this is a standard issue with no print run constraints or rarity premium. UNC examples command moderate premiums ($35–$125) over circulated grades but remain accessible to collectors.
This note was issued in 1944, a pivotal year in Iranian history during World War II when Iran was under Allied occupation but maintained nominal sovereignty under Shah Mohammad Reza Pahlavi. The obverse portrait represents the young Shah consolidating his authority, while the reverse features the Tomb of Daniel at Susa, one of the most sacred sites in Persian Islamic heritage, reflecting Iran's pride in its ancient Mesopotamian legacy and religious significance. The use of these national symbols on currency served both as a statement of national identity and legitimacy during a period of significant external pressure and internal consolidation.
The obverse features a meticulously engraved profile portrait of Shah Mohammad Reza Pahlavi positioned on the right side, rendered in fine detail with military uniform insignia visible. The composition is dominated by a large central decorative medallion exhibiting complex Islamic geometric patterns in green and pink, surrounded by ornate floral and geometric borders typical of Persian artistic traditions. The reverse depicts the Tomb of Daniel (Maqam-e Danial) at Susa with architectural precision, showing a distinctive tall minaret or tower with lattice geometric patterning and a pyramidal apex, multiple arched doorways characteristic of Islamic architecture, and the surrounding decorative border framework. The color palette throughout employs reddish-brown as the primary printing color with cream and beige backgrounds, enhanced by subtle pink and green underprinting.
Front side: 'بانک ملی ایران' (Bank Melli Iran / National Bank of Iran), 'پنج ریال' (Five Rials), '533277' (Serial number), 'صندوق ریزرو' (Reserve Fund), and legal text in ornate box at bottom regarding banknote validity and authority. Back side: Persian numerals indicating denomination in corner circles, with architectural labeling of the depicted structure.
Steel plate intaglio engraving, produced by Harrison & Sons (H&S), a premier British security printer. The fine line engraving work visible in the portrait, architectural details, and ornamental patterns is characteristic of Harrison's high-security banknote production methods from this era. No printer imprint appears on the note itself, as was common practice for some Bank Melli issues of this period.
The PMG Population Report identifies one main variant catalogued under Pick 39 with H&S printer attribution. The observed serial number 533277 represents a standard printing sequence. No major varieties (such as signature variants, overprints, or serial number prefix changes) are documented for this issue, indicating a relatively homogeneous printing. The note represents the standard regular issue of 1944 with no known scarce sub-varieties.
