Mohammadreza Shah Pahlavi 10 Rials 1961 Bank Markazi PMG 65 EPQ Gem Uncirculated (UNC)

This is the only 10 Rials in 1961 and the first 10 Rials issued by Markazi (Central Bank). 

Histirical significance: 

The 1961 (1340 SH) issue from Bank Markazi represents one of the most celebrated banknote series from the reign of Mohammad Reza Shah Pahlavi. Printed by British security printers Harrison & Sons and Thomas De La Rue, this series features the Shah’s "Fifth Portrait," depicting him in full military uniform on the right obverse. Issued under the authority of Finance Minister Abdolbaghi Shoaee and Bank Melli Director Kashani, the notes incorporated sophisticated security elements for the era, including fine multicolor guilloché underprints, embedded security threads, and a watermark depicting the young Shah.

The 10 Rials note emphasises industrial achievement, illustrating the newly completed Karaj (Amir Kabir) Hydroelectric Dam on its reverse. The 20 Rials note focuses on modern civic and educational development.