My friend gave me this today to get it checked out by my coin dealer. It's definitely gold. He bought it 13 years ago. My research shows it's a Iran Pahlavi which appear to be very scarce. Took a few pics: http://imgur.com/a/BuGJG#0 Can anyone directly identify it? I've found plenty but not this one.
It's a 1/4 Pahlavi, dated MS2536(1977). KM#1198. No mintage listed, valued @ $85 in UNC, but worth a bit more for the gold content .0589 AGW.
Yeah I found that after much searching. Thank you for the rest of the information though. He also gave me a 1885 Liberty $5 piece which was in very good condition. Might be worth a pretty penny.