PMG-certified Notes from Iraq and Nicaragua Sell for Over $10,000

World Banknote Auctions recently offered hundreds of exciting vintage notes, including great rarities from the Middle East and Central America, which were certified by Paper Money Guaranty® (PMG®). Bidding for World Banknote Auctions Sale 29 Session 1 concluded on Aug. 4, 2022.

The most valuable PMG-certified note sold was an Iraq 1931 (ND 1936) 100 Dinars graded PMG Very Fine 25 that realized $20,700.

This 100 Dinar is a rare issue from the government of Iraq; it was the highest denomination offered and its print run was minuscule, because it represented enormous purchasing power in Iraq in the 1930s. It features the portrait of Ghazi, the first King of Iraq, who died in a car accident in 1939.

Another impressive lot not to be overlooked was an Nicaragua, Tesoro Nacional 1894 20 Centavos graded PMG Very Fine 25, which realized $12,650. This is one of only four examples known to exist. Notes with denominations ranging from 20 centavos to 10 pesos were issued as part of a commemorative series in 1894, and the 1 Peso is the only one that appears regularly.

Other PMG-certified notes sold in this auction were:

• a Saudi Arabia, Monetary Agency ND (1961) / AH1379 100 Riyals graded PMG 66 Gem Uncirculated EPQ that realized $5,462
• a Netherlands Indies, Javasche Bank 1938-39 50 Gulden graded PMG 55 About Uncirculated EPQ that realized $4,887
• a Straits Settlements / British Administration ND (1917) 25 Cents graded PMG 45 Choice Extremely Fine that realized $4,600
• a United States 1923 $10 Legal Tender Note graded PMG 35 Choice Very Fine that realized $4,312
• a Saudi Arabia, Monetary Agency ND (1954) 5 Riyals graded PMG 65 Gem Uncirculated EPQ that realized $3,162