THX IRQ

Fifth Third Bank Current Buy/Sell Rate

26 posts in this topic

I'm posting this in questions in case anyone comes to ask the question later. [b]I just bought 1mil for $1,057 and they will buy 1mil for $661. [/b] I've seen rumors of banks halting dinar sales/buy backs, but I can tell you for fact Fifth Third is not one of those banks.
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[quote name='THX IRQ' date='22 February 2011 - 03:17 PM' timestamp='1298405867' post='392084']
I'm posting this in questions in case anyone comes to ask the question later. [b]I just bought 1mil for $1,057 and they will buy 1mil for $661. [/b]I've seen rumors of banks halting dinar sales/buy backs, but I can tell you for fact Fifth Third is not one of those banks.
[/quote]




One Hellava spread, Is that the norm...........[img]http://dinarvets.com/forums/public/style_emoticons/default/blink.gif[/img]
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I can back that up me and my wife just purchased more this morning at same rate.
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[quote name='ajw' date='22 February 2011 - 02:22 PM' timestamp='1298406151' post='392092']
I can back that up me and my wife just purchased more this morning at same rate.
[/quote]

you might be the guy in front of me in line that bought some lol the teller said this orlando-area branch is booming with people buying. Edited by THX IRQ
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Thats only the spread for now because the Dinar is worthless. So they dont want it back till its worth something. If its that high after the rv just take it somewhere else. Since you'll have time cause you are now RETIRED!!! :)
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Info on 5/3 Banks. Here in Indiana, I called 4 locations, and they all said the same thing. As of Feb 1, 2011, they will no longer sell the Iraqi Dinar. I asked if they would exchange or buy back, and they said yes. They could not give me the spread, but said that it depended on the rate at time of exchange. I also asked them the process of the exchange. They said just bring in my Dinars, to the teller, they would so a visible inspection and then send them off to their Orlando for Authentication. It would take 3 business days, and after they acknowledge their aunthenticity, our bank account would be credited immediately.....
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[quote name='waiting2xhale' date='22 February 2011 - 03:33 PM' timestamp='1298406806' post='392098']
Info on 5/3 Banks. Here in Indiana, I called 4 locations, and they all said the same thing. As of Feb 1, 2011, they will no longer sell the Iraqi Dinar. I asked if they would exchange or buy back, and they said yes. They could not give me the spread, but said that it depended on the rate at time of exchange. I also asked them the process of the exchange. They said just bring in my Dinars, to the teller, they would so a visible inspection and then send them off to their Orlando for Authentication. It would take 3 business days, and after they acknowledge their aunthenticity, our bank account would be credited immediately.....
[/quote]




Im not sending my Dinar anywhere IM not.
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[quote name='tbi' date='22 February 2011 - 02:41 PM' timestamp='1298407292' post='392107']
Which state is this 5/3 in and the First Interstate?
[/quote]


Tennessee
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[quote name='THX IRQ' date='22 February 2011 - 03:17 PM' timestamp='1298405867' post='392084']
I'm posting this in questions in case anyone comes to ask the question later. [b]I just bought 1mil for $1,057 and they will buy 1mil for $661. [/b] I've seen rumors of banks halting dinar sales/buy backs, but I can tell you for fact Fifth Third is not one of those banks.
[/quote]

Thats about the same rate as TD Bank is giving as well. Checked yesterday myself
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[quote name='waiting2xhale' date='22 February 2011 - 12:33 PM' timestamp='1298406806' post='392098']
Info on 5/3 Banks. Here in Indiana, I called 4 locations, and they all said the same thing. As of Feb 1, 2011, they will no longer sell the Iraqi Dinar. I asked if they would exchange or buy back, and they said yes. They could not give me the spread, but said that it depended on the rate at time of exchange. I also asked them the process of the exchange. They said just bring in my Dinars, to the teller, they would so a visible inspection and then send them off to their Orlando for Authentication. It would take 3 business days, and after they acknowledge their aunthenticity, our bank account would be credited immediately.....
[/quote]


As of Feb. 1st or March 1st?
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good question, not sure :P they are being shipped and arriving in about two days, ill check back with you.

[quote name='bfurn' date='22 February 2011 - 04:39 PM' timestamp='1298414350' post='392184']
THX, the IQD you bought at 5/3 were they uncirculated?
[/quote]
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My Fifth/Third has a 10 day turn around, and they're not all new currency. This is as of Saturday in SE Michigan. Just before Christmas it was a two day wait.
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[quote name='waiting2xhale' date='22 February 2011 - 02:33 PM' timestamp='1298406806' post='392098']
Info on 5/3 Banks. Here in Indiana, I called 4 locations, and they all said the same thing. As of Feb 1, 2011, they will no longer sell the Iraqi Dinar. I asked if they would exchange or buy back, and they said yes. They could not give me the spread, but said that it depended on the rate at time of exchange. I also asked them the process of the exchange. They said just bring in my Dinars, to the teller, they would so a visible inspection and then send them off to their Orlando for Authentication. It would take 3 business days, and after they acknowledge their aunthenticity, our bank account would be credited immediately.....
[/quote]
IMO You should go the extra miles and bring them directly wherever they have a de la rue machine , avoiding loosing sight of your investment !
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[font="Lucida Sans Unicode"]Georgia 5/3 is selling at $1057.00 with $10.00 charge. Pay them, they ship it in and you have to pick it up. No ship to address.[/font] Did not get into buy back. :D
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oh yes i forgot to mention the $10 charge for non-members. i just didnt add that in the price so people could see the accurate buy/sell price.
will Ali and banks still trade in circulated bills or is that still unclear? i dont see what the difference would be, money should be money. Edited by THX IRQ
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[quote name='bfurn' date='22 February 2011 - 04:39 PM' timestamp='1298414350' post='392184']
THX, the IQD you bought at 5/3 were they uncirculated?
[/quote]

i forgot to come back here and reply, sorry. yes they are circulated.
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I bought mine at Capital One Bank in South Louisiana and they were all uncirculated with about the same spread.
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Geez that buy back rate blows, would be better off selling on ebay I think.
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[color="#0000FF"][size="4"]Those rates are correct. Most banks/dealers are making a 20-25% profit on each side of a transaction - both sell and buy. Prices increase even more when the rumor mill cranks up periodically, creating an artificial shortage. If there is ultimately no RV, our loss on the investment will be roughly 40-50% - probably even more when the dealers realize that they can make a larger profit on the exchange once it's determined that the RV isn't going to happen. IF the RV does occur, the spread will likely be much smaller, due to the huge numbers involved. Ali has already said that he will charge $150 per million, and the other dealers will likely follow suit.

That being said, based on currently available info, I find it really hard to believe that anyone is still buying. I can understand why most would be reluctant to "sell" fearing that they might miss out if a miracle occurs, but to invest more at this point seems unwise at best. [/size][/color] :blink:
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