If you are considering purchasing the Iraqi dinar you need to know if the bills are genuine. Here are some of the ways that you can tell if an Iraq dinar bill is fake or if it is authentic.
First of all, the dinar note is now available in 50, 250, 1000, 5000, 10000, and 25000 bills. If someone tries to sell you a 1,000,000 dinar note it is a fake.
The provisional government of Iraq chose the De La Rue firm of Great Britian. De La Rue is the printer of over 150 of the world’s currencies.
When they print the new Iraqi dinar bills a number of nearly foolproof countermeasures are built in, ones that at today’s exchange rate would not be worth copying even if it were possible.
Horse’s Head Watermark:
Hold the bill up to the light and look for the faint image of a horse’s head inside the bill. This image is inside the bill, not printed on the outside. You will find the image of a horse’s head on all Iraqi bills that are genuine.
Use A UV Light
To tell if an Iraqi dinar note is genuine or if it is fake, use a UV light source. You can find UV lights at hardware stores and specialty online retailers. Under a UV light you will see the denomination of the bill glowing, as seen in the image below.
Look For Unique Serial Numbers
Each Iraqi dinar note, if it is genuine, should have unique serial numbers. These numbers are printed in Arabic. Below is a list of the numbers and their equivalent in European numbers. If you see the same serial numbers on two bills, chances are one or both are fake Iraqi dinar notes.
European Numerals: 0 1 2 3 4 5 6 7 8 9
Arabic numerals ٠ ١ ٢ ٣ ٤ ٥ ٦ ٧ ٨ ٩
You don’t have to convert the Arabic numerals to European to check for counterfeit bills. All you need to look for is the same pattern (or lack thereof for genuine bills) on the money that you are inspecting.
Choose Wisely When Selecting A Currency Dealer
Some investors in Iraqi dinars choose to use a Forex currency trading account to purchase the currency. Others choose to take physical possession of the bills from a reputable dealer. You can find reputable dealers on sites like eBay and by searching Google for “Iraqi Dinar”.
Here are some more things to look for to ensure that the Iraqi dinar notes you buy are not fake.
First you should buy only new Iraq dinars. The old money issued under the Saddam Hussein government are no good. Next you should avoid buying worn money and small bills.
With a value of of over 1000 dinar to the U.S. dollar you don’t want to deal with small notes. Instead choose large denomination bills from a reputable dealer. New Iraqi dinar notes are printed by the De La Rue printing company.
Choose a dealer that counts it’s money with a De La Rue currency counting machine. These machines have built in counterfeit detection measures. Inquire of the company as to what brand of currency counting equipment it uses.
After receiving your Iraqi dinar notes you should look for the watermark, as seen in the image above. Hold the note up against the light and look for the horse’s head watermark in the window to the left of the bill.
Never buy Iraqi dinar notes from a dealer that does not accept credit cards. When purchasing with a credit card (not a debit card) you have some recourse against counterfeit bills.
Never buy from a dealer that does not list a physical address and phone number.
Buying Iraqi dinars is a risky investment. Always be prepared to lose money. However, it is one way that you can place your trust in the government of the new Iraq and possibly profit at the same time.