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2 1/2 Azadi

Issuer Central Bank of the Islamic Republic of Iran
Year 1999
Type Non-circulating coin
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Obverse description Central device depicts the dome and two minarets of the Imam Reza Shrine (Holy Shrine of Imam Reza) in Mashhad, rendered in fine relief within a recessed circular field. The Arabic legend of the issuing authority curves along the upper periphery, while the Solar Hijri date 1378 appears in Eastern Arabic numerals in the exergue below the shrine motif.
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Mintage 1378 (1999)
Additional information

The Azadi ("Freedom") gold coin series was introduced in 1979 following the Islamic Revolution, replacing the Pahlavi coinage that had carried the Shah's portrait. The 2½ Azadi sits at the upper end of the fractional denominations in this series, with the full Bahar Azadi below it and the larger half-bundles above. By 1999, Iran was issuing these primarily as bullion instruments — domestic inflation and currency instability had made gold coin hoarding a deeply ingrained financial behavior, with the Central Bank actively selling Azadis as a hedge mechanism rather than circulating currency.

The .900 fineness traces directly to the Pahlavi-era specifications the Islamic Republic inherited and retained.

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