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ronnie s


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Whatever the market will bear.



So don't pay it already.... :confused2:






Edited by SgtFuryUSCZ
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This is business as usual Ronnie s. Don't be so surprised

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All Of The Dealer Buy Back Rates Have Noticeably Been Declining Recently !

A Good Friend Of Mine Who Has Been Following This Very Closely

Noticed That XChange Of America Was Paying $850 Per Million Uncirculated

Just A Few Weeks Ago ! B)

Within The Last Couple Of Weeks They Lowered It To $750 !

Now This Week Xchange Of America Just Lowered Their Buy Back Rate Yet Again Down To $650 ! :o

Also This Week - Both Treasury Vault And XChange Have Removed

The Banners They Had Up Stating That They Would Honor All GID And Sterling Exchanges ! :blink:

The Drop In Buy Back Prices Is Probably Due To A Combination Of Factors ...

* The Dramatically Lower Street Rate Of The Dinar Because Of The GOI Meddling

And Placing A Limit On The CBI's Daily Auctions (Article 50 Of The Budget)

Which Is An Overreach By Parliament On The CBI's Independence ! <_<

The CBI Has Been Making Some Recent Gradual Adjustments

To Improve The The Street Rate - But The Fixed Rate Has Remained Unchanged At 1166 !

* Another Contributing Factor Putting Pressure On The Dinar - As Well As All Other World Currencies

Has Been A Strong US Dollar !

* But Probably The Biggest Contributing Factor For The Lowering Of Buy Backs

Would Be The Domestic Market (North America) And The Supply And Demand

That The Dealers Are Contending With !

They Probably Have More Than Enough Supply And Don't Need Or Want

To Buy Back Anymore Dinar If Fewer People Are Buying And More Folks Are Selling !



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A few months back when there were Dinar shortages most dealers were paying upwards of $1,000 per milllion. Now after the Sterling news probably less people buying and more people selling. It's simple supply and demand. If your not happy with that price don't buy or sell to them.


Even a company like Travelex sells Euros at $1.56 and buys them back at $1.11 and that's a common largely traded currency. Something not even on forex there's not as much a market for so you'd expect to pay larger spreads.


I think currency dealers get a bad rap. Checkout travelex yelp reviews and everyone calls them a ripoff. Only difference is their margins are publicly posted. I don't see anyone on here crying about the pair of shoes they paid $100 for that only cost $0.50 cents to make.


If you wanna talk robbery look at their prices if you want to buy by credit card. Something like a $200 premium on a million last I checked. That said I guess if you want the convenience of paying by card you have to decide if its worth $200 bucks.

Edited by rulesforrebels

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