If you are looking into collecting rare coins, obsolete currency is difficult to come by, but particularly interesting. For example, Iraqi dinars, while only worth a small fraction of the US dollar, is an interesting piece to look for. Here are some facts about them that you may not have known before.
1. The Indian rupee was replaced by Iraqi dinars, but previous to that it was the official currency since World War I when the British occupied the country.
2. For most of 2012 1 US dollar was valued at about 1200 dinars.
3. Iraq doesn’t have many exports besides oil, and that is sold in dollars, so there isn’t much demand for Dinars, which means they are in an “exotic” status.
4. 50 and 100 dinar notes were introduced in 1991, and then in 1995 came 250 dinar notes, and finally 10,000 dinar notes by 2002
5. Inflation has made fils obsolete, though they are issued as per the Central Bank of Iraq.
So, as you can see, if you are looking dinar trade value, you’ll see that it is weaker than the US dollar. This means that for a rare coin collector, especially when just starting out, might want to look into dinar trading to collect some interesting and more unique pieces.
6 responses to “Iraqi Dinars for the Novice Coin Collector Quick Facts and Information”
im not a coin collector, but i do collect rare things on occasion. just because its exotic, that doesnt mean its rare, right?
Not necessarily; if it is in circulation or at the very least being minted, then it probably isn’t particularly rare currency.
Not necessarily; if it is in circulation or at the very least being minted, then it probably isn’t particularly rare currency.
Not necessarily; if it is in circulation or at the very least being minted, then it probably isn’t particularly rare currency.
Not necessarily; if it is in circulation or at the very least being minted, then it probably isn’t particularly rare currency.
Not necessarily; if it is in circulation or at the very least being minted, then it probably isn’t particularly rare currency.