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Auction: 403 - World Banknotes at NY INC
Lot: 356

Government of Iraq, [Top Pop] 1/4 Dinar, L. 1931 (ND 1941), serial number E/2 785958,

the Nasik Security Printing Press, established in 1928 in Nasik (now often spelled "Nashik"), Maharashtra, India, was a critical asset in the Government of India's currency and security printing operations. Originally set up by the colonial government to meet India's increasing need for currency and secure documents, Nasik's reputation quickly grew due to its reliability, security features, and high production standards, essential for handling complex and secure printing tasks.

During World War II, the press played a notable role in producing currency for Iraq. As wartime logistics severely impacted the regular currency supply routes between Britain and Iraq, the Iraq Currency Board needed an alternative source for banknotes. To meet this demand, British authorities looked to Nasik, which, being part of the British Empire at the time, could respond promptly to this emergency need.

Between 1941 and 1945, the Nasik Press printed Iraqi currency in denominations of 100 Fils (only 1 note known), 1/4, 1/2, and 1 dinar. These banknotes were essential in stabilising the Iraqi economy amid the disruptions caused by the war, especially as military expenditures in the region surged and local currency shortages became critical. Nasik's ability to produce these emergency banknotes underscored its adaptability and importance within the Commonwealth's broader network of secure printing facilities.

The notes produced for Iraq featured distinct characteristics differentiating them from those typically printed in the UK. For instance, the Nasik notes printed to Iraq lacked the usual watermark and printer's imprint. Instead, they carried unique design elements aligned with the Iraqi series but were distinguishable by the fractional serial number prefix (Letter E). Additionally, the Nasik Press faced the unique challenge of not having specimen signatures from the Iraq Currency Board on hand; thus, the Iraqi Minister of Finance and Justice, Ibrahim Kamal, provided his signature, while Mr. L. M. Swan, the Currency Officer, signed on behalf of the Board.

Nasik's role in producing emergency currency for Iraq demonstrated its strategic importance within the British Empire's wartime economy, ensuring currency stability under adverse conditions. The successful collaboration with Iraq became part of Nasik's legacy in secure printing, showcasing its reliability in times of international crisis,


(Pick 13, BNB 114a), in PMG holder 55 About Uncirculated, tied for finest graded on PMG Census, and by the time of cataloguing the highest grade listed on Track and Price is a ICG 45, a truly exceptional example

Estimate
$12,000 to $18,000

Starting price
$8000