need answers on what denoms will be if lop occurs

[ayrnay22]

I currently hold 250k i have 100k in denoms with 1 and 2 zeros what is the value of those denoms going to become after a lop of 3 zeros i know 25k note will be 25 and 10k will be 10 just curious what the others will be

Edited July 1, 2012 by ayrnay22

[jackster]

I currently hold 250k i have 100k in denoms with 1 and 2 zeros what is the value of those denoms going to become after a lop of 3 zeros i know 25k note will be 25 and 10k will be 10 just curious what the others will be

Compare it to the US dollar. $1.00 There is a decimal point. So, $100.00 would become $0.10 One hundred dollars becomes 10 cents. $10.00 becomes 1 penny.

I am not aware of what size the smaller units would be after a redenomination. If a 0.10 IQD is not to be made, then you would need to exchange ten 100 IQD notes for one 1 IQD note/coin.

The smaller notes today are 500, 250 and 100. They would become 0.50, 0.25 and 0.10.

[BigFrankD]

I currently hold 250k i have 100k in denoms with 1 and 2 zeros what is the value of those denoms going to become after a lop of 3 zeros i know 25k note will be 25 and 10k will be 10 just curious what the others will be

50 dinar becomes 50 fils, or .05 dinar (similar to a nickel)

100 dinar becomes 100 fils, or .1 dinar, similar to a dime

250 dinar becomes 250 fils, or .25 dinar, similar to a quarter.

[jg1]

If it lopped , we would have to trade in our currency. Then we would about break even.

[doctor robbins]

The short answer is they will be worth the same amount they're worth now. There's a lot of confusion in the dinar community because of the gurus but a lop doesn't affect the value of any bills. It just changes the exchange rate that applies to the new dinar. The old dinar that investors hold will be retired.

[DaveD]

People need to stop thinking about what a 25k or 10K or 50 note will change into.

Think about the total amount of dinar you have. Denominations mean nothing. If an Iraqi has 1,783,450 dinar. He can walk into a bank and they will give him 1,783.45 new dinar in return. Doesn’t matter what denominations… just like when you go to a bank and cash a check. They might give you 100s or 20’s or 1s… it doesn’t matter as long as they give you the correct total amount.

Notice that I said Iraqi. For people holding dinar in a shoe box in their closet half way around the world from Iraq... things wont be quit so easy. You will most likely be stuck with one option. Selling back to a dinar dealer. Maybe forced to take dollars because they wont have access to the new dinar. Certainly they will be forced to pay a huge exchnage fee either way.

Edited July 1, 2012 by DaveD

[jackster]

50 dinar becomes 50 fils, or .05 dinar (similar to a nickel)

100 dinar becomes 100 fils, or .1 dinar, similar to a dime

250 dinar becomes 250 fils, or .25 dinar, similar to a quarter.

BigFrank, thank you for adding that. I didn't know that fils was the term for the smaller units. Like pennies is to dollars.

I actually heard of it once, but forget what it was. Very good.

[alan_coaks_3]

50 dinar becomes 50 fils, or .05 dinar (similar to a nickel)

100 dinar becomes 100 fils, or .1 dinar, similar to a dime

250 dinar becomes 250 fils, or .25 dinar, similar to a quarter.

look at the new artical that just came out what you just posted was in it about what will be the new currency notes

it says He added that the new currency will consist of the categories of paper and metallic paper of which are groups of 200 dinars equivalent to 200 thousand dinars a $ 180 and JD 100, 50 and 25 dinars either metal is JD and a half dinar and a quarter and 100 fils and 50 fils and 25 fils, the smallest coin that is equal to 250 dinars now ".

Read more: http://dinarvets.com/forums/index.php?/topic/121736-government-calls-for-the-central-bank-hold-off-on-deleting-the-zeros-and-reveal-the-financial-details-of-the-currency-in-full/#ixzz1zNZtzxj7

[jackster]

People need to stop thinking about what a 25k or 10K or 50 note will change into.

Think about the total amount of dinar you have. Denominations mean nothing. If an Iraqi has 1,783,450 dinar. He can walk into a bank and they will give him 1,783.45 new dinar in return. Doesn’t matter what denominations… just like when you go to a bank and cash a check. They might give you 100s or 20’s or 1s… it doesn’t matter as long as they give you the correct total amount.

Notice that I said Iraqi. For people holding dinar in a shoe box in their closet half way around the world from Iraq... things wont be quit so easy. You will most likely be stuck with one option. Selling back to a dinar dealer. Maybe forced to take dollars because they wont have access to the new dinar. Certainly they will be forced to pay a huge exchnage fee either way.

DaveD, I'm sure this thought has crossed your mind.

When the IQD RDs and the IQD's luster is gone. Meaning the potential of turning $1000 into $1 million is gone. Then the market for selling IQD would be gone.

Why would a dinar dealer want to buy any more IQD from Iraq and have it shipped to the US for non-existent buyers? And why would any dinar dealer buy back any dinar from past customers?

I would close my doors for business. Now, everyone that has IQD they cannot exchange unless they go to Iraq.

Do you see this as a possibility? I do.

[DaveD]

If a dealer has the ability to get the dinar back into Iraq and exchange it, they could buy it for $600 or so per million and get $850 for it in Iraq.

It would all depend on to what effort Iraq goes to block dinar from re-entering the country. If they make it tough, the dealers might not want to take the risk. But I gotta believe a guy like Ali wouldn't have to hard of time getting the dinar back into the country.

[jackster]

BigFrank, thank you for adding that. I didn't know that fils was the term for the smaller units. Like pennies is to dollars.

I actually heard of it once, but forget what it was. Very good.

Correction. 1000 fils equals 1 Dinar.

The fils are pretty much useless at this time.

[ayrnay22]

Thank-you for the responses