Description

2010–2026 Iran Cheque 1M 2M 5M Rials 3-Note Hyperinflation High-Denomination Set

Offered here is a 3-note high-denomination “Iran Cheque” set from the Central Bank of the Islamic Republic of Iran, consisting of 1,000,000, 2,000,000 and 5,000,000 rials – also expressed on the notes as 100, 200 and 500 tomans. These modern cash cheques are fully official CBI issues that circulate like standard banknotes and were created as practical tools during Iran’s ongoing inflation and planned currency redenomination.

Historical significance – emergency money of a changing currency

Beginning in 2020, Iran started releasing a transitional “intergenerational” series in which the old rial value is kept, but four trailing zeros are visually de-emphasized and a bold numeral in tomans is added. This was designed to prepare the public for cutting four zeros from the currency and formally switching to the toman unit, while inflation and sanctions were eroding the value of existing notes.

The 1,000,000-rial / 100-toman cheque was the first of these large CBI cheques in the series (SCWPM Pick 166, Banknote Book B-302), followed by the 2,000,000-rial / 200-toman cheque in 2025 (TBB B-303), and the 5,000,000-rial / 500-toman cheque confirmed shortly after as the highest denomination of the line (TBB B-304). In real purchasing power these “million” notes represent only a few US dollars, making them a striking illustration of modern hyperinflation.

Design & features – industry, sport and poetry

1,000,000 rials – 100 tomans

Obverse: Shrine of Fatima Masumeh in Qom (earlier issues show the Tachara Palace at Persepolis), with value shown as both 100 tomans and 1,000,000 rials.
Reverse (shown in your image): A detailed panorama of the South Pars / North Dome gas-condensate field, one of the world’s largest natural-gas projects and a pillar of Iran’s energy economy.
Combines cool blue tones with a modern industrial theme – a very contemporary contrast to classic mosque imagery.

2,000,000 rials – 200 tomans

Obverse: The grand Naqsh-e Jahan Square in Esfahan, a UNESCO World Heritage site and one of the most famous squares in the Islamic world.
Reverse (shown in your image): Dynamic line art of riders playing chogān (chovgan), the traditional Persian ancestor of polo, galloping across the note in blue-green and orange.
The combination of architecture and sport ties together Iran’s Safavid-era heritage with an ancient equestrian game that spread from Persia to the rest of the world.

5,000,000 rials – 500 tomans

Obverse: The elegant Agha Bozorg Mosque in Kashan, a celebrated 19th-century mosque and theological school, rendered in warm yellow and ochre tones.
Reverse (shown in your image): A finely engraved view of the tomb of Ferdowsi in Tus, honoring the poet of the Shahnameh, the national epic that preserved the Persian language and identity.
This note links religious architecture with literary memory, making it one of the most symbolically rich designs of the entire Iran Cheque series.

Security elements

All three notes are produced on high-grade security paper by Iran’s Security Paper Mill (TAKAB), and share a consistent suite of modern security features:

Windowed, colour-shifting security thread with demetalized “I.R. IRAN”.
Watermarks of arches, gates or architectural motifs with an electrotype numeral matching the toman value (100, 200, 500).
Micro-printing and intricate guilloche patterns in the background.
“Puzzle” registration numerals that align perfectly when the note is held to the light.
Raised intaglio printing on key inscriptions and numerals for tactile authentication.

Remarkable denominations

In catalogue terms these are described as 100, 200 and 500 tomans, yet in everyday speech Iranians still often talk in “tomans” only, dropping four zeros from the rial value. Seeing “ONE MILLION RIALS”, “TWO MILLION RIALS” and “FIVE MILLION RIALS” printed across bank-authorised cash cheques – while their real value is only a handful of dollars – makes this set a textbook example of late-stage denomination creep in a modern economy.

Catalog numbers

1,000,000 rials / 100 tomans Iran Cheque – SCWPM Pick 166 type; The Banknote Book B-302 (various signature/date combinations).
2,000,000 rials / 200 tomans Iran Cheque – The Banknote Book B-303, catalogued as part of the transitional intergenerational series.
5,000,000 rials / 500 tomans Iran Cheque – The Banknote Book B-304, the highest denomination Iran Cheque to date.

Collector’s value

For collectors, this trio forms a complete high-end ladder of the modern Iran Cheque series, from 1 to 5 million rials. Together they document Iran’s response to hyperinflation, the gradual move from rials to tomans, and an inspired design program that weaves industry, architecture, sport and classical poetry into a cohesive narrative. As a ready-made 3-note set with matching design style and theme, it’s an excellent addition to any world-inflation, Middle Eastern, or modern polymer-era comparison collection—and an eye-catching conversation piece whenever the topic turns to “millions” in your banknote album.

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