Iran has issued many beautiful gold coins, and this one is exceptionally beautiful. It is not a coin, that is, it is not legal tender for commerce, but a medal commemorating Shah Reza Pahlavi who ruled Iran from 1941 to 1979.
The medal in our picture comes from IR Gold Coin in Encino, California and CoinQuest thanks IR Gold Coin for use of their image. It is a gorgeous piece!
For value, the gold in this medal gives it most of its value. Additional value is added based on artistry and sentimentality, but such value is difficult to evaluate because is changes from collector to collector. The medal is rare and sometimes is packaged with other medals, and these factors move the price upward from the straight gold price.
The medal contains 0.723 troy ounces of gold. If you go to a web site such as kitco.com, you can find the current price of gold in US dollars per troy ounce. Multiply that value by 0.723 and that gives the base value (BV) for the medal. For instance, at the time this appraisal was written, the price of gold was $1430 per ounce, so BV = 0.723 x 1430 = $1034.
You may have to spend substantially more to buy this medal because the rarity factors mentioned above. These factors can easily add $200 to $800 to the selling price.