Description
Central Bank of the Islamic Republic of Iran
10,000 Rials ND (1992–2014) – Watermarked Security Paper
Featuring watermark portrait of Ayatollah Ruhollah Khomeini
An unusual and seldom-offered production artifact: a genuine piece of unprinted banknote security paper prepared for the 10,000 rials issue, showing the full watermark portrait and embedded security thread.
Unlike issued notes, this material represents the paper stage of banknote manufacture, before printing, and provides a clear view of the watermark and internal structure of the paper itself. Pieces of this type are collected alongside specimens, essays, and printing-stage material, and are far scarcer than regular issued notes.
Encapsulated and certified by PMG as Watermarked Paper.
Details:
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Prepared for the 10,000 rials Khomeini type (P-146 series)
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Portrait watermark clearly visible
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Security thread present
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Original banknote paper stock
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Professionally graded and preserved in PMG holder






