- All Iraqi dinar banknotes issued from 2003 onward remain valid legal tender.
- The 2013–2014 security upgrades (UV ink, new watermarks) don't affect the value of older notes.
- When buying or selling dinar through an exchange, condition matters more than print date.
Customers often ask us, "are Iraqi dinar notes printed before 2014 still usable?"
The short answer is yes, they are. We can confidently assure our customers that all Iraqi dinar banknotes sold by us — including those printed before and after 2014 — remain valid legal tender.
The only banknote ever withdrawn from circulation since the modern incarnation of the Central Bank of Iraq (2003 and onward) is the 50-dinar note in 2015. For reference, that is five times smaller than the smallest denomination we sell: the 250-dinar note.
Now, let's unpack the longer answer.
How did the Iraqi Dinar change in 2013-2014?
In 2013, the CBI issued new banknotes featuring security upgrades like ultraviolet ink and new watermarking (much like the US dollar). These changes make the currency less vulnerable to counterfeiting, but in no way affect the intrinsic value of older notes.
As a comparison, consider the many ways that the US dollar has been redesigned for increased security in recent decades. These new notes simply enter the existing pool of currency; they don't invalidate the notes already in circulation. This is true for banknotes everywhere, unless a central bank formally demonetizes an entire currency — but nothing like that has occurred in Iraq.
Condition Matters More Than Print Date
As a monetary instrument, the value of a dinar note is unaffected by condition, just like a beat-up US dollar is as useful in a convenience store as a brand new one. A dinar is a dinar just like a dollar is a dollar.
That said, when it comes to obtaining currency from a money service business like SafeDinar.com, condition is part of the calculation of value. Why? Because we need to account for the cost of maintaining the pristine condition of uncirculated notes, which entails greater shipping and processing overhead compared to circulated notes.
How We Treat Pre-2014 Dinar Notes
In the many years since the unveiling of these new notes, we have had no issues with our suppliers, wholesale partners, or customers being unable to use dinars issued before 2014. Our largest wholesale transactions never include discussions about banknote series or date of issue, because all notes of saleable quality are treated equally. This continues to be confirmed by the CBI itself.
How We Actually Process Notes
For many years, we have partnered with an armored facility to handle the inspection and grading of banknotes. When a customer sells their currency to us, that currency is professionally inspected and graded to ensure acceptable circulation condition. Notes with too much wear and tear are returned to the customer. This secured, streamlined process ensures that we can offer our customers currency in acceptable condition.
Note that this process is indifferent to the age of the note: it's all about condition.
The Bottom Line On Pre-2014 Dinars
We take great pride in providing above-and-beyond service and delivering a quality currency exchange experience for all customers. That's why we can confidently assure our customers of two things:
- There is no difference in the intrinsic value or tradability of post-2003 dinar banknotes regardless of their year of issue.
- The currency you receive from us will always be of acceptable, usable quality, regardless of whether it is circulated or uncirculated.
