Certificate at time of RV

[b62707]

I know this has probably been asked, and I am a newbie so forgive me as i couldnt find any prior posts for it. I am recently divorced, we split the dinar but she has the certificate which is in my name. Do I need the certificate to cash in at RV time or not? I may be in a different state soon and was just wondering.

[Kandi77]

No, when you cash in, they will run it through a De-la-rue (sp?) machine to make sure it is real, then you are good.

[The Kid]

No, when you cash in, they will run it through a De-la-rue (sp?) machine to make sure it is real, then you are good.

You might want to do some research on this subject.

Specifically read the cash-in procedures described on dinartrade.com and dinarbanker.com.

Being able to verify the source of your purchase of your dinar is an issue.

The banks will verify the authenticity of your dinar but in some instances you will have

to prove that you did not obtain your dinar illegally, if you want to exchange them .

Edited January 18, 2011 by The Kid

[Kandi77]

You might want to do some research on this subject.

Specifically read the cash-in procedures described on dinartrade.com and dinarbanker.com.

Being able to verify the source of your purchase of your dinar is an issue.

The banks will verify the authenticity of your dinar but in some instances you will have

to prove that you did not obtain your dinar illegally, if you want to exchange them .

I can prove that I purchased mine through DinarTrade without the certificate...receipt...order confirmation. There is no link between the serial numbers on your dinar and that certificate. So I would think that a receipt would work just as good.

[Adam Montana]

I wrote a short 9 page Guide on this, get it here: http://dinarnews.net/cashinguide.php

[spy]

You might want to do some research on this subject.

Specifically read the cash-in procedures described on dinartrade.com and dinarbanker.com.

Being able to verify the source of your purchase of your dinar is an issue.

The banks will verify the authenticity of your dinar but in some instances you will have

to prove that you did not obtain your dinar illegally, if you want to exchange them .

The issue at hand is not the legality of how you obtained the dinar, The bank doesn't have the time nor thee resources to investigate every single dinar. The issue will be tax related. If you can prove that you bought the dinar over a year ago, you will be taxed as a long term gain. Conversly, if you can't prove that you purchased the dinar longer than a year ago then you will be taxed a short term gain at a rate of 35% as opposed to 15%.

[Kandi77]

I wrote a short 9 page Guide on this, get it here: http://dinarnews.net/cashinguide.php

Thanks Adam!!!

[Hurley11]

does anybody know if the long term/ short term gain applies to canadian citizens?

[auntigommy]

I know this has probably been asked, and I am a newbie so forgive me as i couldnt find any prior posts for it. I am recently divorced, we split the dinar but she has the certificate which is in my name. Do I need the certificate to cash in at RV time or not? I may be in a different state soon and was just wondering.

Have your ex send you a photo copy of the original certificate! I have copied all my certificates and my dinars also.

[dre396]

I wondered the same thing. After ALOT of research I found that money is money and as long as they are real then your fine. A certificate or treasury documents don't mean anything asfar as cashing in. look at it this way. Everyday people for whatever reason are selling some or all of there dinar back to DT SD GID ect. Then as long as there real they pay for them and sell them back to us. How do they know they weren't brought in illegally or stolen. Now I'm not bashing at all so don't attack me. Just saying they don't care why would banks or uncle sam. Seriously why would banks say no to the spread and uncle sam his taxes. JMO but I seriously doubt it. And yes I am invested. I'm only upto $650,000 at the moment but plan to buy till it rvs. I'm not a pumper or a basher. GO RV!!!!!!

[Adam Montana]

What about dinars bought in Iraq, I was a contractor and bought dinars in Kirkuk, will I be able to cash in :huh:

Yes.

You may want to grab this free guide, it's only 9 pages and will clear up a lot of questions: http://dinarnews.net/cashinguide.php

[Captjohn]

I know this has probably been asked, and I am a newbie so forgive me as i couldnt find any prior posts for it. I am recently divorced, we split the dinar but she has the certificate which is in my name. Do I need the certificate to cash in at RV time or not? I may be in a different state soon and was just wondering.

You do need your purchase documents (at least a copy) to prove when you bought the dinar. This will be important for tax purposes.

[Dickerd]

ok what about if you bought your first dinar in 2009 and keep buying up till the day it RVs would the dinar you bought less then a year ago be taxed 35% and what u bought a year ago be taxed 15% or is it from the first time you bought in to the dinar as a investment ? any thoughts

[dinargood]

At the rate we are going, you should put it in your grand kids name...We will all be dead and gone before this thing RVs anyway, so I would not worry about it.

[Hfeliu]

I can tell you that I took 40 - $25,000 notes to chase bank in nyc and exchanged them without question, not even a request for certification of purchase.

[ALLgoodABQ]

My friend and I bought 250,000 dinar at our local bank and have just a printed out receipt they gave us, would that work out?

[iamlizzyb]

Why would you need a reciept or a certificate for exchange?

It is currency, like any other (or will be hopefully) will be treated as such. When you visit Canada, or travel abroad, do you have to show a certificate or a reciept to exchange back? No.

Common sense people, please.

I see people say this is so we can prove we didn't obtain them illegally. Really?!? If they are real and not fake, why would this be an issue? It does not matter where you obtained them, as long as they are legit.

Edited January 20, 2011 by iamlizzyb

[TC987]

ok what about if you bought your first dinar in 2009 and keep buying up till the day it RVs would the dinar you bought less then a year ago be taxed 35% and what u bought a year ago be taxed 15% or is it from the first time you bought in to the dinar as a investment ? any thoughts

Each purchase is measured separately. So for any purchases made in 2009 would be long-term. Anything shorter than 12 months would be short-term. There have been several tax discussions within the taxes forum that you may want to read. There is a question as to whether this investment will be taxed at capital gains rates or if it will be considered ordinary income regardless. I'm not sure who's correct at this point.

My advice is, once this thing RVs, seek out a well respected Tax Attorney. If you have to cash in some of the dinar to afford one then do that, but don't cash in all of it immediately and then go talk to a tax attorney. The tax attorney can help you plan out the tax consequences and can help you structure the cash in to minimize your taxes for the rest of your life. Also, if you keep buying dinar you may want to look into purchasing some through a self directed IRA. If you setup a Roth IRA, you make a deposit into the IRA and then the IRA purchases the dinar and holds them (you can't buy them and place them in the IRA or hold them), then when it RVs it is completely tax free. Of course you can't withdraw anything from the IRA until age 59 1/2 years old (without penalty) but this is one way that you can completely eliminate taxes on a portion of your dinar. Also, when you make withdrawals from a Roth IRA after your 59 1/2, those are tax free as well. I'm sure several companies offer a self-directed IRA but this is the only one that I have a link to: http://www.theentrustgroup.com/

GO RV!

[Soldiering4U]

my suggestion is get Adam's Guide b/c some people on here may not know all the truths about cashing in the event of an RV with so manny people doing it at once things might get crazy... look his guide is free just get it and put your mind at ease... have a great all... I am going to shovel snow now

[gman51]

The issue at hand is not the legality of how you obtained the dinar, The bank doesn't have the time nor thee resources to investigate every single dinar. The issue will be tax related. If you can prove that you bought the dinar over a year ago, you will be taxed as a long term gain. Conversly, if you can't prove that you purchased the dinar longer than a year ago then you will be taxed a short term gain at a rate of 35% as opposed to 15%.

Take it from a CPA. This information is exactly right. Maybe your wife, or ex-wife, could just make a copy of the certificate so you both have one.