Outstanding Iraqi Rarity
Exceptional Opportunity for the Specialist
IRAQ. Government of Iraq. 1 Dinar, 1.7.1931. P-3a. PMG Choice Uncirculated 64.
Prefix A. Young - al Askari - Hornsby signature combination. Surpassed in the PMG population report by just a single finer example, this is one of just three notes of this type graded by PMG in Choice Uncirculated 64 condition. Famous for their rarity, especially in top grades, demand for Iraqi notes means that once acquired many notes disappear into long-term collections. As a result, the opportunity to acquire top-tier material presents itself very infrequently, and we urge all collectors of this famed serious to take note of the present offering, as we don't expect to repeat the offering of this type in this grade anytime soon. In April of 1932, the Iraqi government issued its first banknotes, marking a significant step in modernizing the country’s financial system. Before the introduction of the Iraqi Dinar, the main currency in circulation was the Indian Rupee, which would remain in circulation in much of the region until several decades after World War II. The Iraqi Dinar replaced the Indian Rupee at a rate of 11:1. These first notes printed for Iraq were dated the 1st of July, 1931, were printed in England by Bradbury, Wilkinson & Co., and were issued in denominations ranging from 1/4 Dinar to 100 Dinars. The Iraqi Dinar at its introduction was pegged to the British pound, which provided a measure of stability and confidence in the currency during its early years. The introduction of paper money in Iraq was crucial for facilitating trade and commerce, helping to integrate the country into the global economy. With the portrait of King Faisal I at right in a civilian suit, this type is instantly recognizable as coming from the first series of notes produced for the country and much of the region. This example is by far the nicest of the type we have ever handled, and there does not appear to be any obvious reasons that it did not deserve the "EPQ" designation. The paper is crisp and original, and embossing can clearly be seen through the third-party plastic. The inks are deep, the corners are sharp, and the paper is white. Overall an exceptional example and a note that we can surely count among the many highlights in this sale.

Estimate: $15000.00 - $25000.00