Dinar Price of 1220 per million?

[smee2]

In an ad at the top of this page, those ads that keep rotating to get maximum exposure for each advertiser, there is one that has been there a while and for a long time the rate for dinar was ... I believe ... $1060 per million. Now it is $1220 ... wow!

Was there an interim jump in price I missed? If so it was a short term price. This is tantamount to hyper-inflation, is it not?

Since I have all I want, and can afford, I am no longer shopping for them so I don't know if this price is reasonable, or just keeping up with other dealers. But so many of you are still buying, and checking out prices, maybe you have some input here, just to help me be more informed?

By the way, all of mine were purchased on line from my Canadian dealer, and are paid for in U.S. funds,s which when exchange rate is added came to somewhere in the $1100 range.

Just went to check that site. Uncirculated notes largest available one million dinar is $1270. So, I guess I might have answered the question.

Prices there admusted February 13.

Also, they seem to be offering larger denominations only, as the lower ones are sold out ...

February 9, 2011

Stock Availability

50s, 250s, 500s : completely "sold out"

1000s: currently "IN stock"

5ks: currently "IN stock"

10ks: currently "IN stock"

25ks: currently "IN stock"

New Iraqi Dinar Sets: currently "IN stock

trying to be a good member, here is a link to the site

http://www.newiraqcurrency.com/25000-Dinars_c_80-1.html

smee2

[jeepguy]

wow sheeeemeeeee i almost hit that site for a buy,, but was able too make a heck of a buy for under 800. u s same amount 2 months ago,, i did notice the upward price they now have,,,

[liquidravingdj]

wow sheeeemeeeee i almost hit that site for a buy,, but was able too make a heck of a buy for under 800. u s same amount 2 months ago,, i did notice the upward price they now have,,,

that is alot im getting it for around $850 per mil. i just started this roller coaster so im buying what i can afford to lose (worse case seniro) so couple hundered USD a week. untill i feel is enough but how much is really enough?? 1 mil? 2mil? 10 mil? 20mil? just ramblin here... but 1220 per mil is alot.. i saw somewhere $72.00 per 25k note plus shipping.... ridiculous.....

[hemecity]

GID Assoc. gives a quote of $1,110.00/mil 25 K IQD - 7 AM Eastern. I'd worry about authenticity in anything cheaper.

heme

[Soeharto]

In an ad at the top of this page, those ads that keep rotating to get maximum exposure for each advertiser, there is one that has been there a while and for a long time the rate for dinar was ... I believe ... $1060 per million. Now it is $1220 ... wow!

Was there an interim jump in price I missed? If so it was a short term price. This is tantamount to hyper-inflation, is it not?

Since I have all I want, and can afford, I am no longer shopping for them so I don't know if this price is reasonable, or just keeping up with other dealers. But so many of you are still buying, and checking out prices, maybe you have some input here, just to help me be more informed?

By the way, all of mine were purchased on line from my Canadian dealer, and are paid for in U.S. funds,s which when exchange rate is added came to somewhere in the $1100 range.

Just went to check that site. Uncirculated notes largest available one million dinar is $1270. So, I guess I might have answered the question.

Prices there admusted February 13.

Also, they seem to be offering larger denominations only, as the lower ones are sold out ...

February 9, 2011

Stock Availability

50s, 250s, 500s : completely "sold out"

1000s: currently "IN stock"

5ks: currently "IN stock"

10ks: currently "IN stock"

25ks: currently "IN stock"

New Iraqi Dinar Sets: currently "IN stock

trying to be a good member, here is a link to the site

http://www.newiraqcurrency.com/25000-Dinars_c_80-1.html

smee2

the price goes up, now the price of Iraqi dinar is US $1270 /million dinars

[hammy]

I believe that if you buy from a U.S. bank like 5/3 you will get the lowest price available. It is circulated notes though, not a big deal if its authentic. I have heard a report (don't know how true it is) that you will only be allowed to buy a certain amount from the banks and then be SHUT OFF. I guess your on some kind of list once you do purchase from banks. Has anyone heard that rumor or know firsthand?

[Carrello]

I believe that if you buy from a U.S. bank like 5/3 you will get the lowest price available. It is circulated notes though, not a big deal if its authentic. I have heard a report (don't know how true it is) that you will only be allowed to buy a certain amount from the banks and then be SHUT OFF. I guess your on some kind of list once you do purchase from banks. Has anyone heard that rumor or know firsthand?

Boy, this is true about being cut off, that is a crock. I don't see anyone being cutoff buying stocks on NYSE. If it is true, we have a big problem.

[smee2]

Boy, this is true about being cut off, that is a crock. I don't see anyone being cutoff buying stocks on NYSE. If it is true, we have a big problem.

I don't see it as being a reasonable possibility. Although there may be a limit of how much cash, all denominations not just dinar but your own dollar too, that you can carry or ship in the mail or by courier or transport out of the country or deposit into one account, though that has been taken care of recently by a no limit deposit insurance now available here in Canada ... well, it is just not the kind of thing they can reasonable do, or keep track of. It isn't like having a prescription and all the pharmacies are tied in so they know if you have gotten three batches of something you shouldn't have that much of.

Anyway, I wouldn't even consider it as being true.

smee2

[umbertino]

Quote

i saw somewhere $72.00 per 25k note plus shipping.... ridiculous.....

End Quote

It would seem that , by charging that price, the more or less subtle intent is to make potential Buyers believe it will RV to $3 per Dinar......

[Doctor Smith]

that is alot im getting it for around $850 per mil. i just started this roller coaster so im buying what i can afford to lose (worse case seniro) so couple hundered USD a week. untill i feel is enough but how much is really enough?? 1 mil? 2mil? 10 mil? 20mil? just ramblin here... but 1220 per mil is alot.. i saw somewhere $72.00 per 25k note plus shipping.... ridiculous.....

How are you buying it for $850 per million when it is only worth about $850 without commissions etc?

GID Assoc. gives a quote of $1,110.00/mil 25 K IQD - 7 AM Eastern. I'd worry about authenticity in anything cheaper.

heme

GID is the least expensive place I have found to buy uncirculated. At the first currency exchange house I checked, they quoted $1000/million circulated.

Edited February 13, 2011 by Doctor Smith

[Silence Dogood]

I believe that if you buy from a U.S. bank like 5/3 you will get the lowest price available. It is circulated notes though, not a big deal if its authentic. I have heard a report (don't know how true it is) that you will only be allowed to buy a certain amount from the banks and then be SHUT OFF. I guess your on some kind of list once you do purchase from banks. Has anyone heard that rumor or know firsthand?

Hi Hammy! Always like your posts, short and to the point. You are right about 5/3 Bank . They stick to the current exchange rates very closly. They do have a SLIGHT spread but at the current exchange rate you dont even notice it. When it revalues you probably will. But either way they sell at about $103.00 U.S. FOR 100,000 IQD. There is no limit for account holders but there is a daily limit of $2,000.00 U.S. for non-account holders. So essentially there really is no limit. They do give circulated note but for our purposes of currency exchage " a dollar is a dollar". Banks !!!ALWAYS!!! check to see if the currency they have is real or counterfeit. Remember those counting machines everyone is so jazzed about? They check the u.s. dollars everyday before they are recirculated back out in to the public. And IF even 1 dollar shows up as fake the F.B.I. IS NOTIFIED IMMEDIATLY! I do know this from personal experience; and the story is quite amusing but would take too long to type here. As for a list, in a way yes ALL transactions in a bank are accounted for so yes if buy some from there YOU are on a list but not one for limit purposes. I know alot of you are in this investment out of fear, but don't let it get in the way of your logic. Its not quite as big of a deal as some of the people on this site would have you believe. Except to the Iraqi people.

[liquidravingdj]

How are you buying it for $850 per million when it is only worth about $850 without commissions etc?

GID is the least expensive place I have found to buy uncirculated. At the first currency exchange house I checked, they quoted $1000/million circulated.

efx currency exchange in the mall... they exchange it the same rate plus 5.00 fee uncirculated.. somewhat lower notes i got. 1k, 5k, 10 and 25k

Edited February 13, 2011 by liquidravingdj

[Doctor Smith]

efx currency exchange in the mall... they exchange it the same rate plus 5.00 fee uncirculated.. somewhat lower notes i got. 1k, 5k, 10 and 25k

That sounds good. Is their a limit on how much you can buy? Can you use a credit card? Cash? Or Cashiers check?

[liquidravingdj]

That sounds good. Is their a limit on how much you can buy? Can you use a credit card? Cash? Or Cashiers check?

i walked in she had it in stock and it was cash only she said she could order it but i went to their website IQD isnt listed. the cheapest i found that you can order by credit/debit card is ezforex i used them also they were great and uncirculated. got them within 4 days.

[smee2]

I am all for seeking out the best deal, on anything.

However, my resistance comes in this case when I wonder about the cheapest not being perhaps authentic. I would prefer to purchase from a reputable, meaning registered, or licensed, or bonded ... whatever it is the dealer has to be so the the government has him well documented and given their okay that he is genuine. And the notes are genuine. And guaranteed so. Too often the cheapest is a back room deal, or results from one, depending on the merchandise. With dinar, I am just awfully careful about them being for real. About four years ago,I think it was, there was a counterfeit thing going on, and even the coins were counterfeited when they were still used. Every war there ever was has resulted in battlezone currency problems ... what with visiting armies issuing script and black market activities often funded by fraudulent money, not always the money of the war torn nation but often the money of the "other side" which isn't as well known and is easoer to "pass".

Anyway, just my thoughts about the cheapest not always being the best. And really when it all RVs the profit margin is so high, what is a few dollars going to be?

smee2

[RANDY TEXAS]

prices went up right after 1st of jan 2011,to 1150 per mil,then 1220 about a week later at dinar banker,now back down to 1200

Edited February 14, 2011 by RANDY TEXAS

[mkholdings]

I believe that if you buy from a U.S. bank like 5/3 you will get the lowest price available. It is circulated notes though, not a big deal if its authentic. I have heard a report (don't know how true it is) that you will only be allowed to buy a certain amount from the banks and then be SHUT OFF. I guess your on some kind of list once you do purchase from banks. Has anyone heard that rumor or know firsthand?

I was told by the "manager".......allowed to buy $1500 per day

[Chickenlady in Colorado]

I opened an account at 5/3 bank in Kissimmee last month because I was told they will cash in only to their customers. The lady (who has an office) asked the teller about the dinar. The teller said it's in the system for $2.30 US per dinar. Obviously that did not happen a few weeks ago. I called my daughter and told her to get down there and open her account right away. She went down to a different 5/3 bank in Kissimmee and they told her they will not be cashing in the dinar. They will sell it to you but not cash in. I also went in person to Chase Bank and Bank of America in Kissimmee. Neither one of them knows anything. It is very frustrating. I hope the money exchange place I purchased the dinar at will cash them in. Otherwise, I don't know where to go.

[padunsky]

hi smee

a fellow canadian dinar investor here! was hoping that you might have your email posted but i see that you don`t. i am a fairly new investor and would like to have your take on things. and a couple of questions for you:

1. do you think that vancouver will be the only cash in site or is it possible that ali would consider ontario or quebec because of the number of investors in those 2 locales

2. at the time of cash in in the US, the investor must complete a form 104 (i think that`s the proper form) which i believe is submitted to the government. is there a canadian form that is comparable to the US form that you are aware of. definitely want to make sure that i follow all of the tax rules on this one!!!!!

would love to hear from you with your comments and take on this whole thing!!!!!

thanks

judi (member name padunsky)

[Jim1cor13]

Thanks everyone for your thoughts.

From what I have seen from so many sources

of IQD, as long as "dealers" continue to instill that

"they" are the only safe place to buy, they will get

higher prices for the IQD. From what I have read

over time, many complaints have been received

over the last 3 or 4 years having to do with "registered"

MSB currency sellers, NOT with individuals. Places that

still have more reasonable prices, in some cases 50%

lower, is eBay and a few 'dealers' such as ezforex.com

It does pay to shop around, as I saw one dealer I think it was

'Safedinar' that is selling 25k notes for 72+ EACH. This is robbery

and part of the reason "some" continue to call this a scam, although

we know it is not. The scam part is some dealers trying their best

to convince so many it is better to pay a premium and get a 'certificate'

which means little to nothing in reality.

Upon cash in, all notes will be checked for authenticity, etc., your certificate

of authenticity will not be asked for as it is no guarantee at all, it is a sales tool.

There are still good deals available, deals that better reflect the actual price with

a small (reasonable) premium on top. Also remember, that anyone can register with the US treasury

as an MSB as far as I know, this does not mean the registered entity is honest nor

is it any guarantee of good reliable service NOR genuine product. Many seem to forget

this and just because someone has their copy of the UST MSB registration, again, this is

no guarantee of anything. Rumors and stories still abound about supposed counterfeit or

stolen notes and most of the rumors originate with 'dealers', but so few realize this.

Stay with whom you trust, but do not be 'fearful' about looking into other avenues of

purchase if you feel you are paying far too much. As I have mentioned, personally

all our IQD were purchased via ebay at far less and without the 24+$ fedex which is

totally unnecessary and adds too much cost over time. ALL the notes meet all security

features and the few people I have bought from that earned my trust, have been great to

deal with, and there has been NO problems with any notes being different sized or any type of

irregularities as some have noted coming from dealers. Again, a dealer is no guarantee

of genuine product, although there are many good dealers out there.

All my best!

Jim

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Edited February 15, 2011 by Jim1cor13