By Christopher Dahncke – Currency Auction Associate, Stack’s Bowers Galleries ……
The Stack’s Bowers Galleries January 2022 auction of the New York International Numismatic Convention (NYINC) will be posted to our website for viewing and bidding in the next week. In this sale we are pleased to offer an Iraq P-14 1931 (1941) ½ Dinar in a WBG Very Good 8 Qualified (Extensive Restoration) grade.
Printed by Nasik Security Printing Press, India, this is the key 1/2 Dinar “India Print” Iraq note and is one of the most sought-after Iraqi notes in existence. This marks just the second appearance of this type at a major auction house in recent years.
The portrait at right is of a young King Faisal II. Faisal II was born on May 2, 1935, and began ruling as King of Iraq on April 4, 1939, at the age of three. He would have been six years old when he was portrayed on the 1931 (1941 issue) series of notes. Faisal II was the last King of Iraq, and on May 2, 1958, he was ousted as the ruler when the military launched a coup d’état to seize power from the monarchy. He was later executed with most of the royal family on July 14, 1958.
This series was printed as an emergency issue during World War II in India, instead of by BWC in the United Kingdom, due to the uncertainty/danger in shipping the notes. At the time the air/land route from India to Iraq was safer to traverse than the sea route from the United Kingdom to Iraq, due to the threat of the German Kriegsmarine and Luftwaffe. 1941 saw continued bombing of the United Kingdom by the Luftwaffe until the “Blitz” ended in May, and the Kriegsmarine (specifically U-Boats and pocket battleships) was still a threat to allied shipping.
Relatively few 1/2 Dinar denominations have surfaced today, with just around six confirmed to exist. While this note is in a WBG holder, for reference PMG has graded four examples at the time of cataloging.
This item has been extensively repaired, as noted by the grading service, with two notes being combined to form one, as evidenced by the mismatched serial numbers. WBG comments “Extensive Restoration, 2 Different Halves Joined Together.”
We are currently taking consignments for our April 2022 Hong Kong sale. To consign your U.S. paper money and world paper money to a future sale, contact a consignment specialist at 800-458-4646 or visit StacksBowers.com. For more information on viewing lots or for assistance in registering to bid, email your inquiry to [email protected].