The Safavid dynasty was one of the most significant ruling dynasties of Iran, often considered the beginning of modern Iranian history. Mohammed Khodabanda was the fourth Safavid Shah of Iran. He ruled the empire from 1578 until his overthrown in 1587 by his son Abbas I.

Mohammed was the oldest son of Tahmasp I. He was the governor of Fars province at the time of his father's death. He abdicated in favor of his son, Abbas I and lived till 1004AH.

During the reign, he issued gold and silver coin in the denomination of Ashrafi, Shahi, Mithqal, and Tanka. These coins were struck from mints such as Ardabil, Iran, Mashhad, Mashriq, Rasht, Tabriz, and Urdu.

It depicted the Persian legend ‘As Sultan Al Hadi Abul Muzaffar Shah Sultan Muhammad Bahadur Khan Bin Tahmasp Khaldallah Mulkahu’ and mint name on the obverse face. The reverse of a coin bore the Shi'a Kalima in the centre ‘La Ilaha Illallahu Muhammadur Rasulullah Ali Waliullah’ with names of 12 Shi'a imams around it.

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