Modern Usage
The crown jewels were last used by the Pahlavi dynasty, the last to rule Iran. The splendor of the collection came to the attention of the western world largely through their use by Mohammad Reza Pahlavi and his Shahbanu (Empress) Farah Pahlavi during official ceremonies and state visits.
The Iranian crown jewels are considered so valuable that they are still used as a reserve to back Iranian currency (and have been used this way by several successive governments). In 1937, during the reign of Reza Shah Pahlavi, ownership of the Imperial treasury was transferred to the state. The jewels were placed in the vaults of the National Bank of Iran, where they were used as collateral to strengthen the financial power of the institution and to back the national monetary system. This important economic role is perhaps one reason why these jewels, undeniable symbols of Iran's monarchic past, have been retained by the current Islamic Republic.
Read more about this topic: Iranian Crown Jewels
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