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Auction: 23009 - World Banknotes
Lot: 263

(x) Government of Iraq, 1/4 Dinar, 1st August 1932, serial number B021975, in 1931, the Iraqi government ratified a pivotal legislation known as Law No. 44, formally establishing the Iraqi dinar as the nation's official currency. Several previous attempts to found a national currency had failed for logistical reasons. However, after the formation of the National Bank in 1927, the government finally possessed an institution based in Iraq from which they could issue a currency. Before this, the Indian rupee had been circulated throughout Iraq. Thus, the introduction of Law No.44, and the issuance of dinar notes, such as the one currently offered, represent a significant turning point in the political and economic landscape of Iraq. This superb note presents the portrait of King Faisal I, only featured on the dinar banknotes issued 1931-32 before his untimely death in 1933
(Pick 1b, BNB 101b), in PMG holder 25 Very Fine, annotation

Subject to 5% tax on Hammer Price in addition to 20% VAT on Buyer’s Premium.

Estimate
£12,000 to £18,000

Starting price
£8000