1 dinar 1968
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54 salesAbout This Note
This is a stunning PMG 67 EPQ example of the 1968 Kuwait 1 Dinar (Pick-8), representing the inaugural currency issue of the newly independent Central Bank of Kuwait. The note exhibits exceptional uncirculated condition with vibrant burgundy, pink, and orange tones on the obverse featuring a portrait of Amir Sheikh Sabah ibn Salim al-Sabah, while the reverse showcases an industrial oil refinery complex—a symbolic representation of Kuwait's petroleum-based economy. The sharp print quality, pristine paper, and lack of any wear marks underscore why this note commands significant collector interest, particularly in premium grades.
Common. This is the first denomination issue of Kuwait's independent currency and was produced in substantial quantities for circulation. Despite the PMG 67 EPQ grade being above average, the underlying Pick-8 note itself is common in the marketplace. eBay price data demonstrates regular sales of this note in circulated grades (VF, F) for $5–$25, with even graded examples (PMG 64–68) selling in the $100–$180 range historically. The 2019 catalog valuations of $9 (VF) and $45 (UNC) further confirm this as a widely available note to collectors.
Issued in 1968, this note commemorates Kuwait's establishment of its independent central bank following the country's transition to sovereignty in 1961. The prominent depiction of the oil refinery on the reverse reflects Kuwait's emergence as a major petroleum producer and exporter during this period, while the portrait of Amir Sheikh Sabah ibn Salim al-Sabah honors the nation's leadership during this formative era of modern Kuwait's economic development.
The obverse features a right-facing portrait of Amir Sheikh Sabah ibn Salim al-Sabah wearing traditional Arab dress (ghutra and agal), positioned on the right side of the note. The left side is dominated by ornate Islamic geometric and floral decorative patterns rendered in burgundy, pink, and orange tones, creating an elaborate frame. The reverse depicts an industrial architectural complex with multiple tall structures and smokestacks representing Kuwait's oil refinery infrastructure, rendered in burgundy and tan against a cream background. Both sides feature decorative corner medallions and ornamental borders typical of high-quality currency design from this period. The watermark area is visible on the obverse left side.
Front side: 'بنك الكويت المركزي' (Central Bank of Kuwait) appears at top center in Arabic script; 'دينار واحد' (One Dinar) is displayed as the denomination in Arabic. Serial number 'B/24 345732' is printed in English numerals. Reverse side: 'Central Bank of Kuwait' appears in English at the top; 'One Dinar' is printed in English at the bottom; the numeral '1' indicates the denomination value.
This note was produced using intaglio (engraved) printing, as evidenced by the fine geometric patterns, detailed portraiture, and sharp line work visible in the security features and decorative elements. The multi-color printing technique utilized separate color applications characteristic of mid-20th century central bank currency production, likely produced by De La Rue or another major security printer contracted by the Central Bank of Kuwait for this inaugural issue.
This specimen appears to be the standard Pick-8a variety with Watermark: Emir Sabah. PMG has catalogued three variants for this Pick number: P-8a (standard), P-8cts (Specimen), and P-8s (Specimen). The serial number prefix 'B/24' and the absence of specimen markings confirm this as a regular issue note rather than a specimen or trial printing. No overprints or signature variations are apparent in the visual analysis provided.
