Iraqi Dinar
Iraqi Dinar If the Iraqi dinar is revalued and reprinted, what happens to the old money? If the Iraqi dinar increases in value as a result of a revalue and reprint, what happens to money that p...
Iraqi Dinar
How Can I Get May Hands on Iraqi Dinar?
The hottest investment sweeping the net today is the buying of Iraqi dinar. Buying the actual paper currency from the country of Iraq in the hopes the country will stabilize and the currency will revalue.
As of today's date $1 USD is = 1153.55 dinars. Here is the basic idea you purchase 346,065 dinars for a mere $284 USD (typical price from a dinar dealer). Suppose $1 USD will = 1.49 Dinar - now you have made yourself a ton of money with a very small investment.
Because of the potential there are many dinar traders on the net all claiming this "investment" is a sure bet. Currently you purchase 1,000,000 Iraqi (IQD) dinars for $1,060 from anyone of these sites. However there are some dangers of buying them so let's review the risks:
1) Buying the old dinars with Saddam Hussein's portrait. Sorry but he was hanged for crimes against humanity. Those notes are worth nothing.
2) Buying counterfeit IQD notes. Although the new notes have several security features there was a case in Eastern Europe of a gang trying to sell counterfeit Iraqi money. The likelihood of buying counterfeit dinars is actually very low since there are least five security features with ultraviolet and color-changing ink just to name a couple.
3) Falling for the bogus selling points. There are several selling points these traders love to tout. The #1 selling point the Iraqi dinar was at 3.22 in the 1980's therefore the RV will match the old value. Wrong! Saddam himself arbitrarily pegged the value at $3.22. That is basically any ruler of a nation all of the sudden declaring his currency is worth $20 to 1 USD. It's also important to note that inflation at the time was above 25% so really that 3.22 value was much less.
4) Buying on eBay. I don't need to say too much here but buying currency on eBay is risky. If you want dinars buy them from a respected dinar trader.
These are just some of the risks involved in buying dinars from any trader. Reading the websites of these dinar traders they make sound it's a sure bet that the dinar will revalue "very soon" and you'll become rich in no time. Buying dinars is a purely speculative investment and you must keep in mind what the facts are.
Understand when buying Dinars you are basically buying a lottery ticket. There is never a guarantee that it will revalue to your favor.
With that said I recommend the following sources for buying dinars.
1) Safe Dinar
2) Dinar Trade
These can be easily found on the net and are very professional. They send the dinars via FedEx COD. So you pay when you receive them. I myself have purchased my dinars in the fashion with no problems. I also recommend buying the dinar notes that have not been circulated already. They will arrive to you next day air in a sealed plastic envelope.
Before you rush out to buy Iraqi money with the hopes of getting rich make sure you understand the risks involved.
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