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It calls for central banks to buy gold Meskukath and confirms the arrival of specie 100 dinars


yota691
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thanks for  the  imput  guys  gals  ,,,,  notaguru,  you say  the  250 dinar will have  just  250 worth as a coin ,  why  would they not  spend 250 dinar , turn around  and  sell  them for more  value ?  would that  not  melt down  and make  a profit ?? 

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thanks for the imput guys gals ,,,, notaguru, you say the 250 dinar will have just 250 worth as a coin , why would they not spend 250 dinar , turn around and sell them for more value ? would that not melt down and make a profit ??

No, Im saying that the 250 Dinar coin will be sold at or near 1,056,000 Dinar. The "250" isnt a true value at all, just a numerical value placed on the coin, similarly to how we make special edition gold coins in the states with values like $1, $10, or $50, but actually valued much higher.

These gold dinar coins are just special commemorative edition coins...as collectables.

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thanks for the  reply  not a guru !    if this is the case ,  i do not seeing  average iraqi`s  spending money on stupid buys  as  these  and at that  size of a price tag ...  it is  something  though  central must think  iraq folks are  rich as heck !  for them too do this  ...

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thanks for the reply not a guru ! if this is the case , i do not seeing average iraqi`s spending money on stupid buys as these and at that size of a price tag ... it is something though central must think iraq folks are rich as heck ! for them too do this ...

If Im interpreting the article correctly, it looks like these were meant for collectors.

Only 5000 of the 100 Dinar coins, and 5000 of the 250 Dinar coins will be minted, keeping them as 'limited editions'.

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5000 of each is a waste of time to mint, and a lose of money.CBI is a Bank in it for the Money. I guess we will wait and see what this Means

Again, I have to disagree.

They're actually making out pretty well with these coins.

Ok, lets break it down...

$35.42/gram)

15gram = $531.30USD

$531.30 x 1170 = 621,621 Dinar

CBI resale value of 100 Dinar coin 720,000 Dinar

They are MAKING 98,379 Dinar off each coin.

22 gram = $779.24USD

$779.24 x 1170 = 911,710 IQD

Resale value of 250 Dinar coin is approx. 1,056,000 Dinar.

They're making 144,290 Dinar off each coin.

So, yes...your right, the CBI is in it for the money.

Exactly! Thanks SD.

2015-american-gold-buffalo-rev.jpg

The US American Golden Eagle and American Gold Buffalo coins both weigh 1 ounce and are worth $1108 Today

They both have a $50 face value

2015-age-rev-new.jpg

Edited by notaguru
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The Rich Middle Eastern Sheiks that have money to burn, or coin collecters, or the same people that buy Maybach limos & Lamborghinis..because they can.

Yeah...those people.

You maybe be right, But I would think the greedy super rich middle eastern sheiks that got fiflty rich from 100.00 a barrel oil...would be much more concerned about there worthless oil right now instead of an over priced gold coin........but that.s just me.

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You maybe be right, But I would think the greedy super rich middle eastern sheiks that got fiflty rich from 100.00 a barrel oil...would be much more concerned about there worthless oil right now instead of an over priced gold coin........but that.s just me.

Its actually not that bad. Yes...it has come down from its high point, but if you look back over the years, the market has dropped many times. Oil is getting to the value it was in late 2001...when ironically Dinar was at $3:1. Its not "worthless"....its just getting realistic IMO

Oil value chart over the years:

http://www.macrotrends.net/oil-prices/historical-chart-data/

Edited by notaguru
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Folks I have been invested for 9 years now and DO NOT get excited about much (I am a lurker not much into speculation but I am head deep into Speculating today!)

Let Me show you this...to Convert Grams to Ounces and back go to this site...

http://www.statman.info/auto-mass/grams_to_ounces.html

So if you take the above statement saying that they will sell 22 gram coins (they also stated 15 gram coins), converting 22 grams into ounces you get

22 Grams x 28.34952 =.776 ounces at the spot price as of now is $35.34 per gram / $1109.20 per ounce so...

22 x $35.34 = $777.48 per Coin

Now did I miss read the above statement saying that this Coin would be sold for 250 Dinars?

$777.48 / 250 Dinar = $3.10992 US Dollars Per Iraq Dinar ?????????????

(You may now pick Me up off the Floor)

I remember a statement "we will bring the dinar back to his glory"

Go dinar

Go increase exchange rate

Go $3.11:1

Thanks Badrabbit

Edited by Laid Back
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  • 5.1452175417683645602.jpg
Publishing Date: Thu, 07 Jan 2016 14:03:37 | Views: 321


Bgdad_abar today

 

Called on the central bank, on Thursday, the banks to buy gold Meskukath, and while noting the arrival of specie 100 dinars category, stressed that the price of 720 000 dinars.

 

The bank said in a statement AGENCY News today a copy of it, that "in order to diversify the public savings and ensure that he receives the gold 24 carat has contracted with an international company Stamping 5000 specie souvenir gold", adding that "the coins are from 100 dinars category weight of 15 grams Eighty-fourth occasion of the anniversary of the founding of the Iraqi PMA 1930, in addition to the 5000 class specie 250 dinars weight of 22 grams on the occasion of sixty-eighth anniversary of the founding of the Central Bank of Iraq in 1947 ".

 

 

The bank said it "received the first category of these coins that are weighing 15 grams," noting that he "will be put up for sale through banks, which will be determined by them."

 

He said the bank, "it was to determine the sale price of banks on the basis of cost and out of Baghdad International Airport plus administrative Downloads 1% of the cost to be the price per minted from this category by 720 000 dinars."

 

The Central Bank, in January 2014, its intention to sell gold different weights for those wishing to purchase it from the citizens, adding that he began contracting procedures for imported and then sold through the banking system.

 

And the foundations of an independent Iraqi Central Bank as a bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies being sessions daily for buying and selling currencies.

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Iraqi gold settling at 171 000 dinars to the weight
Vmnaqsat economy

 Since 01.08.2016 at 09:55 (GMT Baghdad)

22.jpg

BAGHDAD - scales News

Iraqi gold price settled Friday, when 171 000 dinars per weight.

The price of 21 carat gold, today, 171 thousand and 766 while on Thursday 171 thousand and 198 Iraqi dinars, very narrowly.

It is said that the weight of gold is equal to five per Gramat.anthy 29/9 P

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Iraqi gold settling at 171 000 dinars to the weight

Vmnaqsat economy

 Since 01.08.2016 at 09:55 (GMT Baghdad)

22.jpg

BAGHDAD - scales News

Iraqi gold price settled Friday, when 171 000 dinars per weight.

The price of 21 carat gold, today, 171 thousand and 766 while on Thursday 171 thousand and 198 Iraqi dinars, very narrowly.

It is said that the weight of gold is equal to five per Gramat.anthy 29/9 P

 

 

Can someone break this down so someone like me can understand .

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Im crunching the numbers, but so far having a tough time.

21K gold finished at $31.07/gram or $966.52/troy oz. (Different conversion rate with troy ounces)

Im missing a bit of info... The article says "weight", but not sure what unit of measure theyre using.

One troy ounce of 21K gold in Dinar is roughly 1,130,805 IQD

One gram of 21K gold is 36,352 IQD

WHERE THIS '171,700 by weight' number comes in, is beyond me presently....

I'll keep digging.

Also..."weight of gold is 5 per gram" ...whaaa?

Edited by notaguru
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Ok, so this is what I got....

21K gold actually averaged out today at 34,500 Dinar per gram. Not sure why....but if one multiplies that by 5, you get roughly this 171,766 they're talking about. This 5 multiplier might be what is being referred to in the statement "weight of gold is equal to 5 per gram". I tweaked the translation at the end in google translate enough to know, this isnt the best translation of the article, so that in itself could explain the jibberish like statements.

As far as the 171,766 & 171,198 values, its just the difference in value between yesterday and today.

This is just what I make of it.

Link to Iraq gold in Dinar:

http://www.livepriceofgold.com/iraq-gold-price.html

Edited by notaguru
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savings «Central» Iraqi contracts to 10 thousand gold coins

the source: 

  • BAGHDAD - Iraq's Ahmed
Date:  January 09 2016
486825497.jpg
 
  •  

Iraqi Central Bank revealed his contract with an international company Stamping 5000 specie souvenir gold from 100 dinars category, weighing 15 grams, on the occasion of the 84 anniversary of the founding of the Iraqi Monetary Authority in 1930, in addition to the 5000 specie category 250 dinars, weighing 22 grams, to mark the anniversary of the 68 of the founding of the bank in 1947.

This comes confirmation of his announcement earlier intention to sell gold different weights for those wishing to purchase it from the citizens, and direct contracting procedures to be imported, and then sold through the banking system.

The bank said in a statement that the aim of the new coins is «the diversification of the public's savings and ensure receiving a 24-carat gold», pointing to «receipt of the first category of these coins weighing 15 grams, which will be put up for sale through banks». The statement pointed out that «the sales price of the banks will be determined on the basis of cost, added her administrative Downloads 1% of the cost, to be the price per minted from this category, of which 720 thousand dinars».

 

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Central bank: Stamping contracted 10 000 specie to diversify their savings and get a 24 carat gold

150x150-ELSAHEFA-26724-2.jpg

 BAGHDAD - Iraq Press - January 7: confirmation of his announcement earlier intention to sell gold different weights for those wishing to purchase it from the citizens, and direct contracting procedures for imported and then sold through the banking system, the central bank announced on Thursday, his contract with a company Global Stamping 5000 specie commemorative gold from 100 dinars category, weighing 15 grams on the occasion of the 84 anniversary of the founding of the Iraqi Monetary Authority in 1930, in addition to the 5000 specie category 250 dinars, weighing 22 grams to mark the anniversary of the 68 of the founding of the Central Bank of Iraq in 1947 ".                He went on Aleinik The aim of this "is the diversification of the public's savings and ensure that he receives the gold 24-carat" pointing to "receiving the first category of these coins weighing 15 grams, which will be put up for sale through banks, which will be determined by them".             The statement noted that "the sale of the banks price will be determined on the basis of cost plus its administrative Downloads 1% of the cost, to be the price per minted from this category by 720 000 dinars. " Ended O.h 

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