A coin commemorating oil and agriculture

Iran

Last time we covered Iran, with a 1946 2 Rials, we covered a lot of the early history. This time let’s recap some of the second half of the 20th Century. In that earlier piece, we noted the country’s reliance on the oil industry and the Anglo-Iranian Oil Company, (Today called BP), which controlled oil in the country.

In April 1951, parliament votes to nationalise the oil industry, which is dominated by the British-owned Anglo-Iranian Oil Company. Britain imposes an embargo and a blockade, halting oil exports and hitting the economy. A power struggle between the Shah and nationalist Prime Minister Mohammad Mossadeq ensues.

In August 1953 Prime Minister Mossadeq is overthrown in a coup engineered by the British and US intelligence services. General Fazlollah Zahedi is proclaimed prime minister, and the Shah returns from temporary exile.

In 1963, the Shah launched a programme of land reform and social and economic modernisation. During the late 1960s he becomes increasingly dependent on the SAVAK secret police in controlling opposition movements. By the late 1970s, the Sha’s policies alienated the clergy, and his authoritarian rule leads to riots, strikes and mass demonstrations. Martial law is imposed. This forced the Shah and his family into exile in 1979. A referendum followed, and the Islamic Republic of Iran was proclaimed.

In November that year, Islamic militants take 52 Americans hostage inside the US embassy in Tehran. They demand the extradition of the Shah, in the US at the time for medical treatment, to face trial in Iran. The exiled Shah died of cancer eight months later in Egypt. The US hostages were eventually released in after 444 days.

The 1980s were also dominated by the Iran-Iraq war, which lasts for eight years. Also, notable this decade: After the US and Soviet Union halted arms supplies, the US attempted to win the release of hostages in Lebanon by offering secret arms deals. This would later become known as the Iran-Contra affair. In short, Israel sold US weapons to Iran in exchange for the release of American hostages held by Hezbollah, Iran’s ally, in Lebanon.

Agriculture

(Only about 10% of Iran’s land is cultivable. Image FAO.org).

About 52 percent of Iran consists of mountains and deserts and some 16 percent of the country has an elevation of more than 2 000 m above sea level. The largest mountain massif is that of the Zagros, which runs from the northwest of the country southwards first to the shores of the Persian Gulf and then continues eastwards till the most south-eastern province.

Of the population, approximately 76% of the 86.2 million people live in urban areas. Agriculture is a major economic sector in Iran, with a 14.8 percent share of employment. The cultivable area is 10 percent of the country’s land area. Each year, 57.5 million tons of agricultural products are produced, and the annual cultivated area covers 12 million hectares.

Drawing on its diverse climate, natural resources and ecological foundations, Iran produces a long array of agricultural products some of which, such as saffron, pistachios and caviar, hold worldwide reputations. 
Iran’s proximity to a large regional market, that of its neighbouring countries as well as Persian Gulf countries some of which lack any agricultural potential, and having adequate land and air transit infrastructure has made Iran one of the top exporters of agricultural products exporting a total of USD 5.2 billion (6.37% of Iran’s total non-oil exports) in the fiscal year ending March 2022.

Livestock is another significant national asset. Over half of the rural population depends, at least partially, on livestock for their livelihoods. Key livestock species in Iran include sheep, goats, cattle. We looked at Dromedary camels previously. While these make up the majority of camels used in Iran as well, the image above is of a Bactrian camel. This is distinguished by having two humps.

Among the lush and fertile lands in the northwestern region of the Islamic Republic of Iran, the Bactrian camels roam the area once again.

The revival of this specific Iranian camelid species takes place in Ardabil city, a bustling capital surrounded by the Moghan plain. A symbol of Ardabil’s cultural heritage, these camels were facing the threat of extinction due to changing land use and to the high cost and scarcity of fodder.

The Food and Agriculture Organisation (FAO) of the United Nations, along with local Ministry of Agriculture embarked on a transformation of the camelid sector to tap into activities such as agritourism, livestock feed production, wool and milk processing. The project centred on the conservation of Bactrian camels and equipped local communities with knowledge on sustainable camel production practices as well as on harnessing the potential of camelid products.

Obverse

The obverse of the coin features oil derricks and wheat inside partial gear, denomination just above centre, country name at top with value below, both in Farsi.

There were two versions of this coin issued:

• Aluminium-Bronze version: Issued 1980 – 1989. Weight 10.1g, diameter 26mm, thickness 2.53mm, KM: 1237. Price ~0.42 USD – $0.97 USD in VF (The 1984 and 1989 versions appear to be rarer, and no price is offered on Numista).
• Copper-Nickel version (Main pictures on page): Issued 1989-1991 with some undated examples existing as well. Weight 7g, diameter 26.4, thickness, 2mm, KM: 1237.1a Price ~$1.18 USD – $1.60 USD in VF (No price offered for the undated version).

The edge on this coin is interesting. It is smooth with Farsi writing, which reads: “بانک مرکزی جمهوری اسلامی ايران” (Bank of the Islamic Republic of Iran):

Some of my favourite pieces are those with industrial designs, like this one. Though with a couple of other interesting features, perhaps this time I’ll ask: What is your favourite coin with edge lettering? OR What is your favourite coin with two versions, identical, except for the metal composition?