One of the many mysterious corners of Arab numismatics is the banknotes of Hejaz and circumstances surrounding their production. These unissued notes were only “discovered” in the early 1950s after the sale of King Farouk of Egypt’s collections. Few sets reportedly survive today and most collectors don’t even seriously consider trying to locate a set that is available for sale.
A very good article on this subject was written a while back by Peter Symes, and is available at his web site here: http://www.pjsymes.com.au/articles/Hedjaz.htm
I strongly recommend those interested to read this article.
These coins are amongst the few examples of unissued coins in the Arab world that were nevertheless widely forged.
The story behind this odd pair is interesting, yet incomplete. The Iraqi government was making an attempt to locally produce coins, after having minted their previous issues abroad (mainly by the British Royal Mint). Around the late 1980s or early in 1990, a decision was made to locally produce two high denomination circulating coins of 5 and 10 Dinars. The coins which were reportedly struck by the Iraqi company that produced military decorations and medals. The designs used are unlike previously issued types, and the overall quality is rather crude, especially when compared to previously issued coins. An unknown but small quantity of these coins made its way to the market. Both denominations are difficult to find, and some convincing forgeries exist. More information on these coins can be found on this page, which is part of my friend Waad’s informative and well-illustrated web site on Iraqi numismatics.