CUSTOMER NOTICE
Is It Legal to Buy Iranian Rial and Other Sanctioned-Country Currency in the United States?
Yes. Completely, unambiguously, yes.
We've recently received a wave of emails and phone calls from customers asking whether purchasing Iranian Rial, Syrian Pounds, and other sanctioned-country banknotes from Planet Banknote could get them into legal trouble. We take these concerns seriously, and we want to put the facts in one place so there's no confusion.
Under U.S. law, sanctioned-country currency that is already physically located within the United States may be legally bought and sold as a collectible. Planet Banknote is a U.S.-based company located in Sarasota, Florida. Every note we sell ships from domestic inventory.
This is not a gray area, a loophole, or a workaround. The domestic sale of foreign banknotes — including those from sanctioned countries — as collectible items is standard, lawful practice across the entire numismatic industry. It has been for decades.
This Is Standard Industry Practice
Planet Banknote is far from the only dealer offering these products. Heritage Auctions — one of the largest auction houses in the world, headquartered in Dallas, Texas — routinely sells Iranian Rial, Syrian Pounds, and other sanctioned-country banknotes in their public auctions. This happens openly, daily, and has for years. Their auction results are publicly searchable on their website for anyone who wants to verify this firsthand.
Numismatic dealers, coin shops, collector shows, and auction houses across the country buy and sell these notes every day. It is a normal, legal part of the collectible currency market.
Where Is This Misinformation Coming From?
The claims that are causing concern among collectors do not originate from any legal authority, government agency, or regulatory body. They originate from competing sellers who do not maintain the established international sourcing relationships required to carry these products.
Rather than investing the time and resources to build those supplier networks themselves, a small number of competitors have chosen to spread doubt about dealers who have. The goal is straightforward: if they can convince you that buying these notes is risky, they don't have to compete with dealers who actually stock them.
We'd encourage anyone with lingering questions to do their own research, consult a legal professional if they'd like, and look at what the largest and most reputable auction houses in the world are doing with these exact same products every single day.
About Planet Banknote
Planet Banknote is a family-owned numismatic business based in Sarasota, Florida, with over 15 years of experience in the world banknote market. We source our inventory through established domestic and international channels, and every note we sell ships from within the United States. We are a trusted name among collectors worldwide, and we stand behind every product we offer.
Still Have Questions?
We're always happy to talk. Reach out by phone or email and we'll walk you through it personally.
Contact UsFrequently Asked Questions
Is it legal to buy Iranian Rial in the United States?
Yes. Under U.S. sanctions regulations, Iranian currency that is already physically present within the United States can be legally bought and sold as a collectible. Planet Banknote is a U.S.-based company and all of our inventory ships from domestic stock.
Is it legal to buy Syrian currency or other sanctioned-country banknotes?
Yes. The same principle applies. Sanctioned-country currency that is already located within the United States may be legally purchased as a collectible item. This is standard practice among reputable numismatic dealers and auction houses nationwide.
Do major auction houses sell Iranian and sanctioned-country currency?
Yes. Heritage Auctions, one of the largest auction houses in the world, regularly sells Iranian Rial and other sanctioned-country banknotes in public auctions. Their results are publicly searchable online.
Where does Planet Banknote source its inventory?
All of our inventory is sourced through established domestic and international numismatic supply channels and is physically located in the United States before it is offered for sale. We are a family-owned business with over 15 years in the numismatic industry.
Why are some sellers claiming it's illegal?
These claims do not come from any legal authority. They originate from competing sellers who lack the sourcing relationships to offer these products. Rather than building those networks, they attempt to create doubt about dealers who have. We encourage customers to verify the facts independently.