Circulated vs. Uncirculated Notes

There is often some confusion over why people put a premium on uncirculated notes when buying Iraqi Dinar online.  Especially given the fact that the value of the Iraqi Dinar and it’s exchange rate is the same regardless of it’s quality (i.e. circulated or uncirculated quality.)  This statement from the Central Bank of Iraq (CBI) may explain some of the concern:

“The CBI may confiscate without compensation any banknotes that have been written on, painted on, overprinted, stamped or perforated, or to which adhesive matter has been applied.”

While there is some debate over the likelihood that the CBI would confiscate currency simply because it has been defaced most Iraqi dinar buyers are unwilling to take the chance. Uncirculated quality notes, of course, do not run the risk of having been defaced, which is why they may be preferred by most buyers.

However, at, even if you choose to buy circulated notes, you can rest assured that they will be free from any damage or defacement.  We do not buy damaged notes.  If we receive damaged notes they are returned to the seller.  Due to the company’s high standard for quality notes both circulated and uncirculated;  we typically have a larger supply of uncirculated notes available than circulated.  When they are available circulated notes are an excellent option that allows the buyer to purchase Iraqi dinar at rates closer the actual exchange rate.