1/2 dinar 1969
Market Prices
3 salesAbout This Note
This 1969 Iraqi 1/2 Dinar (Pick P-57) is presented in uncirculated condition with crisp, clean surfaces and excellent detail throughout. The note features striking industrial imagery on the obverse—a modern petrochemical or refinery facility with prominent cylindrical towers—paired with the reverse's historical architectural landmark, the spiral minaret of Samarra. The brown and multicolored printing, combined with the ornate geometric borders and security ovals, exemplifies mid-20th century Iraqi currency design during a period of rapid modernization.
Common. This is a regular-issue banknote from a major national central bank with substantial print runs typical of its denomination and period. eBay market data confirms this assessment: VF examples sold for approximately $27, and UNC specimens for around $57 in recent years, with catalog values (2019) listing UNC at $25. These modest secondary market prices indicate ready availability and consistent demand without scarcity premiums. The note is not rare or scarce.
Issued in 1969 by the Central Bank of Iraq during the early Ba'athist era, this banknote reflects Iraq's focus on industrial development and national pride in modernization. The obverse's cement factory or petrochemical plant imagery celebrates industrial progress and infrastructure development, while the reverse's depiction of the spiral minaret ruins at Samarra connects the nation to its rich Islamic and architectural heritage. Together, the designs symbolize Iraq's positioning as a bridge between historical significance and contemporary advancement.
The obverse features a modern industrial facility—likely a cement factory or petrochemical plant—centered prominently with cylindrical towers, pipes, and infrastructure representing Iraq's development ambitions. Three large vertical cylindrical structures dominate the composition with detailed piping and equipment visible. The reverse displays the famous spiral minaret at Samarra (the Malwiya), an iconic 9th-century Islamic architectural monument, shown with surrounding ruins at an architectural perspective angle. Both sides are framed by ornate geometric borders executed in brown and cyan with decorative corner rosettes. Security features include intricate colored ovals (pink and purple) with geometric patterns, fine-line engraving, and cross-hatching throughout. The watermark, as noted in catalog references, features a falcon's head—a national symbol of Iraq.
Front side: 'البنك المركزي العراقي' (Central Bank of Iraq), 'نصف دينار' (Half dinar), 'وزارة المالية - جمهورية العراق' (Ministry of Finance - Republic of Iraq), 'عن البنك المركزي العراقي' (From the Central Bank of Iraq), 'المحافظ' (Governor). Serial number: 909789 (repeated on both sides). Back side: 'Central Bank of Iraq' (in English), '1/2 DINAR' (denomination in English), 'جمهورية العراق' (Republic of Iraq in Arabic).
Intaglio (engraved) printing with multicolor application, executed by BWC (Bradbury Wilkinson and Company), the renowned British security printer. The fine-line engraving, complex cross-hatching patterns, decorative security elements, and precision in the geometric borders are characteristic of high-security intaglio production. The multicolor printing technique—combining brown, cyan, pink, and purple inks—was typical of premium currency production from this period.
Pick catalog identifies P-57 as the primary variety (printed by BWC) with one known variant, P-57cts. The serial number visible on the examined specimen (909789) does not indicate any obvious prefix variety. No overprints or significant variants are apparent from the visual analysis. The standard P-57 designation applies to this uncirculated example.
