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Auction: 23009 - World Banknotes
Lot: 265

(x) Government of Iraq, 10 Dinars, 1931 (ND 1938), serial number A134058, this superb note is decorated in a vivid purple and blue hues on a multicoloured underprint. Much like the preceding issues, these banknotes were issued in accordance with Law No.44, passed in 1931 to establish the Iraqi dinar as the national 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. The 1934-1940 issues display the portrait of King Ghazi, who assumed the throne in 1933 and is only present on notes produced during this period
(Pick 11a, BNB 111), in PMG holder 64 Choice Uncirculated, stains lightened

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

Sold for
£7,000

Starting price
£4800