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Iraq 1931 (ND 1936) P-12a PMG Very Fine 25 100 Dinars
Impressive Rarity in Above Average Grade for Denomination
A rarity from the Government of Iraq that should not be underestimated. This is by far the highest denomination issued, with the next highest being the 10 Dinars. Just three types were issued, for a total of 5 varieties (this type and the the next type both come with two signature varieties). The total print run was miniscule for this denomination, which represented massive purchasing power in Iraq in the 1930s. All 100 Dinars of the Government of Iraq are major rarities that are typically only present in the greatest collections, and are desired by many collectors of the region and beyond.
This 100 Dinar features the portrait of King Ghazi, who was the only son of Faisal I, the first King of Iraq. A member of the Hashemite Dynasty of Iraq, he came to the throne in September 1933 after the death of his father. He ruled the Kingdom of Iraq until his death in a car accident in April of 1939, and he was succeeded by his three-year old son, Faisal II. Notes with his portrait continued to be issued until notes with the portrait of Faisal II were ready, which were first issued for circulation in July of 1942. It is important to note that at the time these were issued (and until 1959) the Iraqi Dinar was pegged to the British Pound, making this note equal to a British 100 Pound note when issued, which had an exchange rate to the US Dollar of almost 5:1. As such, the face value of this note, in US Dollars, at the time of issue was almost $500, a massive amount in the late 1930s, and equivalent to around $10,000 in today's dollars. Needless to say, most were turned in and withdrawn, as very few people could afford to put one away, and the survival of any Iraqi 100 Dinar is a true miracle.
All 100 Dinars issued by the Government of Iraq feature the A prefix and were printed by Bradbury, Wilkinson & Co. in England. Of all five types combined less than 100,000 notes were issued. Of this particular type/signature combination just 6,000 pieces are believed to have been printed and issued, a miniscule number compared to the other denominations, which often had print runs in the hundreds of thousands or more. It must be noted that the records are incomplete, and serial number research is ongoing. Regardless, this is an extremely rare note that is surely missing from many advanced collections. The note itself is a pleasing VF with strong coloration and good eye-appeal, free of any graffiti. As is typical on this large-format note some minor restorations are noted by PMG, but they are very limited and only revealed by close inspection. A wonderful example of this rare type and surpassed by just five examples in the PMG population report. PMG mentions "Minor restoration".
Impressive Rarity in Above Average Grade for Denomination
A rarity from the Government of Iraq that should not be underestimated. This is by far the highest denomination issued, with the next highest being the 10 Dinars. Just three types were issued, for a total of 5 varieties (this type and the the next type both come with two signature varieties). The total print run was miniscule for this denomination, which represented massive purchasing power in Iraq in the 1930s. All 100 Dinars of the Government of Iraq are major rarities that are typically only present in the greatest collections, and are desired by many collectors of the region and beyond.
This 100 Dinar features the portrait of King Ghazi, who was the only son of Faisal I, the first King of Iraq. A member of the Hashemite Dynasty of Iraq, he came to the throne in September 1933 after the death of his father. He ruled the Kingdom of Iraq until his death in a car accident in April of 1939, and he was succeeded by his three-year old son, Faisal II. Notes with his portrait continued to be issued until notes with the portrait of Faisal II were ready, which were first issued for circulation in July of 1942. It is important to note that at the time these were issued (and until 1959) the Iraqi Dinar was pegged to the British Pound, making this note equal to a British 100 Pound note when issued, which had an exchange rate to the US Dollar of almost 5:1. As such, the face value of this note, in US Dollars, at the time of issue was almost $500, a massive amount in the late 1930s, and equivalent to around $10,000 in today's dollars. Needless to say, most were turned in and withdrawn, as very few people could afford to put one away, and the survival of any Iraqi 100 Dinar is a true miracle.
All 100 Dinars issued by the Government of Iraq feature the A prefix and were printed by Bradbury, Wilkinson & Co. in England. Of all five types combined less than 100,000 notes were issued. Of this particular type/signature combination just 6,000 pieces are believed to have been printed and issued, a miniscule number compared to the other denominations, which often had print runs in the hundreds of thousands or more. It must be noted that the records are incomplete, and serial number research is ongoing. Regardless, this is an extremely rare note that is surely missing from many advanced collections. The note itself is a pleasing VF with strong coloration and good eye-appeal, free of any graffiti. As is typical on this large-format note some minor restorations are noted by PMG, but they are very limited and only revealed by close inspection. A wonderful example of this rare type and surpassed by just five examples in the PMG population report. PMG mentions "Minor restoration".