The price gap between old and new design Bahar Azadi coins narrows to 3 to 4 million tomans, which the gold union head attributes to a shift in court practice

The price gap between the old design and new design full Bahar Azadi gold coins, which at times exceeded 10 million tomans, had narrowed to a range of 3 to 4 million tomans in the days up to Tuesday, 13 Mordad 1405 (August 4, 2026), according to a market survey.

Nader Bazrafshan, head of the Tehran Gold and Jewellery Union, said the gap between the two coin types was wider in the closing months of last year but has come down to a few million tomans in recent months. He said much of the difference stemmed from the mehrieh (marriage settlement): many older marriage contracts recorded only the phrase "Bahar Azadi coin" without specifying the design, so some courts treated the Emami coin (the new design) as the benchmark while others accepted the old design coin.

Bazrafshan added that judicial practice has shifted considerably in recent months and that in most cases the old design Bahar Azadi coin is now also accepted in settling a mehrieh, which has raised demand for the old design coin and narrowed the price differential between the two. Gold market participants say the change reflects more than supply and demand or market volatility, with reduced legal ambiguity in enforcing the mehrieh also playing a part.