5K-10K-25k ?????

[TekMan]

FIRST TIME CALLER LONG TIME LISTENER

Just wondering what is peoples preference in the denomination that they are purchasing. Some people say get 5K to avoid a hit on taxes. Some sites only offer 25K. Some don't even offer anything lower than 5K if they have it. And I notice the cost for 25K denoms are cheaper to get but I think that is because of shipping maybe. So I just went and got some 10K and 5K just because or rumer they may get rid of higher denoms. But ifor security purposes 25K is easier to take to cash in on the big day instead of a wheel barrel. (I know I know when that day comes who cares what you bring it in). Just wanted some peoples take on this.

By the way great forum.

[keepmwlknfny]

Its really all preference....doesnt make too much of a difference.....yea some are gettin 5,000 notes sayin that when you exchange those you can avoid filling out the certain form that gets sent to IRS for tax purposes but if you have a large quantity it will take you FOREVER to cash all those in....you might as well not be greedy about it, cash all in at once and just give uncle sam his share of it....hell your going to end up with a crap load more of money then what you started with so whats the big deal giving up maybe 15% to pay taxes?? Ill be glad to pay taxes off of it even if its a little higher then that!! As far you getting the 10k and 5k because your saying they are going to get rid of the larger denoms....well those two are the larger denoms they are talking about removing from circulation so you really didnt help yourself....all the bills with three zeros the 25k, 10k, and 5k are the ones they are talking about getting rid of.....but getting smaller bills then those are a bit more expensive and harder to find as well.....yea the smaller ones are all over ebay but you dont know what your getting....you might see good ratings for sellers off ebay and maybe they are real but you have to keep in mind the tons of dinar thats been stolen from banks in Iraq and the bills that were stolen I can guarantee they are keeping track of the serial numbers on them so you could end up getting shafted.....just keep the bills you have now because you willl get the opportunity to cash those in when the time comes with no problem!

[retminded]

TekMan

First off, welcome!!! I see this is your FIRST POST; AWSOME!!!!!

I don't know it all, and never will; there are MANY HERE that have a wealth of information....just keep digging through threads.....so with that said, here is an honest opinion.....

One explanation in reguard to the 25,000, 10,000 and 5,000 Dinar notes is that (speculation backed with news releases from Iraq) sources state that they ALL will be pulled due to the 3 zero's; they are in the basket of 'larger notes' with 3 zero's.

IMHO,it doesn't matter what denoms you have, just a simple choice on the size of the atteche' used to carry to the bank in....

Some are planning(or should i say, have posted) on holding a portion of thier Dinar for potential future rise in value, thus exchanging a portion, and holding the rest for potential increased value in the future.

This may or may not be possible.

There may be restrictions to holders from outside the ME that may have a short(30-90 day) turn-in period, thus thwarting the longer term holding plan, but we won't find out until it (RV/RI) happens.

In the case of holding onto 5,000 notes, it could fall under $10,000 range capital gains taxable limit for USA tax purposes, but one would need to HOLD thier remaining Dinar and speculate on rise/ increased value.

My 2 cents worth; if this investment was to pay out at .25 cents US per Iqari Dinar or above...... where can i recieve that type of return (legally) in the world today; and with political turmoil in Iraq now, am i willing to add risk for the sake of wanting MORE RETURN at the expense of losing it all to greed?

I think not. Take the proffits and run; pay bills, spend time you did not have prior to this God send of an investment, and enjoy the 'life changing' qualities that lie right in front of you.

Don't overthink this. If it happens, grasp it, and thank God for the opportunity that presents' itself.

Of course, all JMHO

Best wishes to you and yours; have a great weekend!!!

ret

[sportfisher]

As far as taxes go, "pay to Ceasar, what is Ceasar's"

The 3 zero notes removed could be 25k, 10k, 5k & 1k notes. There has never been a 25k Iraq dinar note before, so with certainty I can say that the 25k notes will be removed from circulation. I have always wondered how many of these 25k notes were ever printed, so far no one has been able to tell me. During the Saddam era there was a 10k note but it is my understanding that they were mainly used in bank transfers. http://en.wikipedia.org/wiki/Iraqi_dinar shows current and previous notes. The next largest Saddam era note was the 250.

After a RV at 1:1 with USD would there be a need for any notes larger than the 500 dinar? Probably not, but there is still a chance that some of the smaller 3 zero notes might stay in use? The 1k notes have a better chance of remaining than a 5k or 10 k but who knows? As far as which notes to get, the 25k notes are are more affordable, with any 3 zero note we will hope we can exchange within a cancellation exchange window if imposed.

If you wanted to hold cash IQD beyond a RV, it would probably be wise to have 500's or smaller at some point.

[alice]

Thanks for a great first post!! I hav purposely rewuestedsmaller demons...just my own way of keeping it real. I know others with larger deniminations and will diversivy innto thise next week...we shall see.

[LEVI]

I think what ever the value of your money might be, you will still have a chance to cash in, my thoughts only.