Why are DT and other dealer prices at $1220 but 5/3rd bank is $1050 per mil?

[Spoolin]

I can go to my local 5/3rd bank and get 1 million dinar for $1050 + $5 shipping, but if I were to order it through DT or another dealer, it would run around $1220 for 1 million dinar + $20 shipping + $25 for the wire transfer with your bank. Thats $1265 per million with the dealers.

I went to purchase some more dinar and have always gotten mine from my local 5/3rd bank (rate is roughly .00105), but decided to place an order with DT to only find out that I would be paying WAY too much for it. I got on DT and placed an order for 500,000 dinar in 10,000 dinar notes and the price came up to $660 with shipping ($20 more for the 10,000 notes and I dont know why) + the bank transfer fee of $25 on top of it all. I decided to not to place the order and instead will just go back down to my local 5/3rd bank and get roughly 700,000 dinar for what DT was charging for 500,000 dinar with all the fee's. I will also ask my local 5/3rd bank if they can get it in 10,000 notes. I'm sure they can and I'm sure it wont cost anymore, but if they cant get 10,000 notes or it is going to cost more for the 10,000 notes, I'll just pass on it. Its really not a big deal if I cant get them anyway, just thought it would be cool to have another denom. Also, banks may get you currency that has been distributed and used, but who cares, its all worth the same.

Why on earth would anyone get their dinar from the dealers when you can go to you local bank and get it for roughly $200 cheaper per million?

Edited February 23, 2011 by Spoolin

[Goldminer]

Wish I had 5/3 or TD near me. I'm sure there are others in my situation. In the long run, what does $200 really mean considering the upside?

[rdb]

so they can profit and pump people up with rumors so they buy more...

its called business

[dinarmamma]

I would absolutely love to be able to purchase from a bank, unfortunately I called ever bank in our valley and the nicest thing that came of it was being just told NO. If anyone knows of a bank in Central Washington (state) that sells I'd be elated to hear from you.

[gp49]

I have not been able to find any banks in my area that sell dinar

[LettheRVbegin]

Hey guys,

if there aren't any banks that sell dinars and you don't mind getting circulated notes, then try your local currency exchange place. They probably would place an order for you and tell you to come back after few days or they may have it at the spot.

I live in los angeles, and there weren't any banks that sold dinar so I tried the currency exchange and I was able to buy it for $1000 FLAT/million. you may sometimes get uncirculated notes if you are lucky. You can also ask them to give you 25000 and 10000 mix.

Now I buy it from a seller in jordan where I get even a better price for all 25000,10000, and 5000.

I used to buy it from a dealer before I knew all about this. Do you own due diligence and make decision.

[Spoolin]

Wish I had 5/3 or TD near me. I'm sure there are others in my situation. In the long run, what does $200 really mean considering the upside?

For some people that may only be able to afford a few hundred dollars worth of dinar, saving as much as they can in their purchase to be able to get as much dinar as they can for as little money they have to invest, could make a huge difference for them when the revaluation occurs. For instance.....If someone can only afford to invest $300, they can get roughly 300,000 dinar at their local bank if they have one near by. If they go through the dealer with $300, they may only get 225,000 dinar. That extra little bit could mean a HUGE difference in some lives.

I know some must go through the dealers because they may not have a bank thats sells the dinar, but if you have a local bank that does sell the dinar at around the $.00105 rate, thats the way to go IMO.

Edited February 23, 2011 by Spoolin

[Doctor Smith]

I can go to my local 5/3rd bank and get 1 million dinar for $1050 + $5 shipping, but if I were to order it through DT or another dealer, it would run around $1220 for 1 million dinar + $20 shipping + $25 for the wire transfer with your bank. Thats $1265 per million with the dealers.

I went to purchase some more dinar and have always gotten mine from my local 5/3rd bank (rate is roughly .00105), but decided to place an order with DT to only find out that I would be paying WAY too much for it. I got on DT and placed an order for 500,000 dinar in 10,000 dinar notes and the price came up to $660 with shipping ($20 more for the 10,000 notes and I dont know why) + the bank transfer fee of $25 on top of it all. I decided to not to place the order and instead will just go back down to my local 5/3rd bank and get roughly 700,000 dinar for what DT was charging for 500,000 dinar with all the fee's. I will also ask my local 5/3rd bank if they can get it in 10,000 notes. I'm sure they can and I'm sure it wont cost anymore, but if they cant get 10,000 notes or it is going to cost more for the 10,000 notes, I'll just pass on it. Its really not a big deal if I cant get them anyway, just thought it would be cool to have another denom. Also, banks may get you currency that has been distributed and used, but who cares, its all worth the same.

Why on earth would anyone get their dinar from the dealers when you can go to you local bank and get it for roughly $200 cheaper per million?

I'm thinking the same thing. Even at 1000 per million they are a rip off considering how much you can trade them in for. They used to be 1050 per million at DT, And if you bought larger amounts it was 1000 per million. Since they went up in price I haven't bought any.

The only thing I can say in their defense is the fact that DT is selling uncircurlated bills that they will buy back for 900 per million at this time. They also come with a certificate, so if they turn out to be fake DT will likely replace them if it RV's. 5/3 bank will only give you something like $650 per million to buy their Dinar back also. If it never RV's and you decide to trade them in it will be an even bigger loss at 5/3 Bank.

I live near Los Angeles and can get circulated for 1000 per million at a local currency exchange house. None of the Banks around here sell it though. You might consider paying 1100 per million for uncirculated at GID. Only 50 dollars more plus shipping and they are uncirculated.

[alan_coaks_3]

cuz there making a profit on it that why

[KramerDinar]

Maybe this is a question you should ask 5th 3rd.

Also your post - I can go to my local 5/3rd bank and get 1 million dinar for $1050 + $5 shipping, but if I were to order it through DT or another dealer, it would run around $1220 for 1 million dinar + $20 shipping + $25 for the wire transfer with your bank. Thats $1265 per million with the dealers.

I went to purchase some more dinar and have always gotten mine from my local 5/3rd bank (rate is roughly .00105), but decided to place an order with DT

Ok, let me see if I can break this down without possibly shooting myself in the process. Now, your first line states that you can get dinar cheaper through 5/3rd, but then you start the next paragraph saying you decided to place an order with DT. Am I missing something here??

Just my opinion but if you turned logic backwards that fast, you may be best not to order anymore and hope for a very low rate so you don't have a lot of money because chances are you will be broke real fast with the financial wizardry to wrote here.

[LettheRVbegin]

I'm thinking the same thing. Even at 1000 per million they are a rip off considering how much you can trade them in for. They used to be 1050 per million at DT, And if you bought larger amounts it was 1000 per million. Since they went up in price I haven't bought any.

The only thing I can say in their defense is the fact that DT is selling uncircurlated bills that they will buy back for 900 per million at this time. They also come with a certificate, so if they turn out to be fake DT will likely replace them if it RV's. 5/3 bank will only give you something like $650 per million to buy their Dinar back also. If it never RV's and you decide to trade them in it will be an even bigger loss at 5/3 Bank.

I live near Los Angeles and can get circulated for 1000 per million at a local currency exchange house. None of the Banks around here sell it though. You might consider paying 1100 per million for uncirculated at GID. Only 50 dollars more plus shipping and they are uncirculated.

THanks Doc SMith. It is you who told me about the local currency exchange in downtown. I appreciate it.

[Helicopter Barry]

Hey guys,

if there aren't any banks that sell dinars and you don't mind getting circulated notes, then try your local currency exchange place. They probably would place an order for you and tell you to come back after few days or they may have it at the spot.

I live in los angeles, and there weren't any banks that sold dinar so I tried the currency exchange and I was able to buy it for $1000 FLAT/million. you may sometimes get uncirculated notes if you are lucky. You can also ask them to give you 25000 and 10000 mix.

Now I buy it from a seller in jordan where I get even a better price for all 25000,10000, and 5000.

I used to buy it from a dealer before I knew all about this. Do you own due diligence and make decision.

I just bought 2.5 Million on EbAy for 2335 with shipping.

[Spoolin]

Maybe this is a question you should ask 5th 3rd.

Also your post - I can go to my local 5/3rd bank and get 1 million dinar for $1050 + $5 shipping, but if I were to order it through DT or another dealer, it would run around $1220 for 1 million dinar + $20 shipping + $25 for the wire transfer with your bank. Thats $1265 per million with the dealers.

I went to purchase some more dinar and have always gotten mine from my local 5/3rd bank (rate is roughly .00105), but decided to place an order with DT

Ok, let me see if I can break this down without possibly shooting myself in the process. Now, your first line states that you can get dinar cheaper through 5/3rd, but then you start the next paragraph saying you decided to place an order with DT. Am I missing something here??

Just my opinion but if you turned logic backwards that fast, you may be best not to order anymore and hope for a very low rate so you don't have a lot of money because chances are you will be broke real fast with the financial wizardry to wrote here.

I was only stating my experience with possibly buying from DT, but changed my mind after I noticed what the final costs would be. It was on a Saturday night that I decided to get more dinar, but the banks were closed until Tuesday because of presidents day. I went on DT to see what it would cost to order some more and after all was said and done it was going to cost me more than $100 more going with DT. So, I decided to cancel purchasing from DT and just waited until Tuesday. It was just a point I was bringing across that I began to purchase from DT and then noticed the prices being so much higher than my local 5/3rd bank.

Also, the post about me being able to go to my local 5/3rd bank and get it cheaper at the beginning of my thread, was mearly a header for my experience I was about to explain next.

Edited February 23, 2011 by Spoolin

[smee2]

You asked why anyone would buy from a dealer, who charges a little more (and considering the scope of this whatever the difference is, it really is just a little more), rather than go to the bank and get it for less.

I think I can tell you ... at least why I personally would prefer to deal with a currency dealer.

Every time you go to the bank, make a deposit, make a withdrawal, even change a fist full of hundred dollar bills for twenties ... it becomes part of the banking records. You cannot wink at the teller without it being on the security tapes and every transaction that has your name or address or phone number or account number on it is part of a paper trail.

Now, not all that is bad. The banks have a responsibility and rules to follow. Good for them.

But I object to having every little detail of my life stored away on some disc somewhere that can be accessed by any government official who thinks he has the right to do so for whatever purposes.

Yes, the dealer keeps records. But more than anything with the dealer they are submitting to the regulatory authorities number of sales, descriptions of bank notes, profit and loss and all the commercial attributes of the business. They are NOT a direct infusion of your personal information to the heart of the government.

I am NOT a government spy nut, but I do resent their intrusion into my life in so many ways. There may be ways I don't know of that they get my information from the dealer's files, I don't know. But I do know what happens with that information at the bank and I will do what I can to avoid it.

Just the way I see it.

smee2

[BanG]

so they can profit and pump people up with rumors so they buy more...

its called business

LMAO! Ya gotta love capitalism, It all comes down to MONEY, GREENBACKS etc.

[paj1985]

Always buy from a bank and sell it back there...simples.

[Nitrobuzz]

Spoolin, 53 Bank wants your business and for years to come. They think in terms of "LONG TERM" Clients. The many brokers out there would consider you as relatively "SHORT TERM". Also, keep in mind that those same brokerages are non-regulated and can charge any fees they want, unlike Fifth Third Bank whom are regulated by the Feds. They also know that with a $2000 limit on non- account holders you'll have no choice but to open an account to deposit your money. Which is a good thing! It's best to be dealing with someone you've developed a relationship with. And, preferably the same person whom you've purchased from. I'm a 53 Bank account holder and feel very fortunate to have this opportunity. It has been very convenient and I know it's not like that for many of my DV brothers and sisters in Dinar land.

Go RV.........sometime this year

[MPG350]

Glad I have a 5/3 near me, I wouldn't give one of these dealers a dime of my money.

Would'nt suprise me if the whole RV and big money rumors started from dealers in the first place many years ago.

Dont even get me started on the Tampa Dinar (not based in tampa) ad buy dinars are riches will be yours lol what a freaking joke

so I guess they guarantee you will make alot of money if not then you can sue them

Edited February 23, 2011 by MPG350

[valentine]

Greed!!! good old American dream, what the market will bear, they have to make a profit to pay their pumpers!!!!!

[CeCe]

I can go to my local 5/3rd bank and get 1 million dinar for $1050 + $5 shipping, but if I were to order it through DT or another dealer, it would run around $1220 for 1 million dinar + $20 shipping + $25 for the wire transfer with your bank. Thats $1265 per million with the dealers.

I went to purchase some more dinar and have always gotten mine from my local 5/3rd bank (rate is roughly .00105), but decided to place an order with DT to only find out that I would be paying WAY too much for it. I got on DT and placed an order for 500,000 dinar in 10,000 dinar notes and the price came up to $660 with shipping ($20 more for the 10,000 notes and I dont know why) + the bank transfer fee of $25 on top of it all. I decided to not to place the order and instead will just go back down to my local 5/3rd bank and get roughly 700,000 dinar for what DT was charging for 500,000 dinar with all the fee's. I will also ask my local 5/3rd bank if they can get it in 10,000 notes. I'm sure they can and I'm sure it wont cost anymore, but if they cant get 10,000 notes or it is going to cost more for the 10,000 notes, I'll just pass on it. Its really not a big deal if I cant get them anyway, just thought it would be cool to have another denom. Also, banks may get you currency that has been distributed and used, but who cares, its all worth the same.

Why on earth would anyone get their dinar from the dealers when you can go to you local bank and get it for roughly $200 cheaper per million?

I purchase mine through 5/3rd but unable to specify the denomination that I recieve it in. But, Some of my smaller purchases I did recieve one purchase in 10K denoms and 5K denoms. But for the most part thet were in the 25K denoms.

[sportfisher]

Wish I had 5/3 or TD near me. I'm sure there are others in my situation. In the long run, what does $200 really mean considering the upside?

more money for more upside

[believer2]

I'm in West Texas and no banks here that I know of sells dinar. Safe Dinar is a little cheaper than D Trade if anybody is interested.

[Dogmatic1]

It's just the difference in business. Foreign currency dealers are here to make money off of the sale of currency. Banks are here to provide a service in terms of money handling. If you look at the US Department of State page and read the second paragraph under the heading "Currency Conversion and Transfer Policies", it specifically states what the bank's role is in terms of purchasing foreign currency. They are not allowed to purchase foreign currency for speculative reasons. That tells me, they are not to purchase foreign currency as an investment vehicle for their customers, they are only to make spot buys for their customers who may need the currency for traveling. See this link; http://www.state.gov/e/eeb/ifd/2008/100879.htm

I have also noticed, it generally takes longer for the banks to get dinar. I don't know about banks, but the dealers that are registered with our Treasury Department must fulfill each transaction made with their customers as agreed upon. Meaning, if DT allowed you to reserve1 million dinar at $1220.00 and it rv's 2 weeks later, he must follow through with that transaction (provided you lived up to your end as well, giving him his 10%). I don't think the banks are held to that same restriction, for instance, if you order 1 million dinar from the bank and the banks goes to order the dinar, but it has revalued, they must pass the increase down to the customer.

Someone had started a banking rumor, a few days ago and mentioned that their bank was only going to purchase dinar for those traveling to Iraq. I think, it was because they realized that people were buying out of speculation - something the bank is not supposed to do. But, what was funny, is this rumor started a buzz that possibly, those of us that had dinar, would have to travel to Iraq to cash in. Not true, even DT will cash you in if nobody else will. But, the banks will cash in. Once the dinar revalues, it will be internationally recognized and all the banks will be dealing with it.

Also, someone posted that maybe someone should ask 5/3 why the difference in price, actually, I think someone should ask Ali at DT, why the difference in price? See what he says!

You asked why anyone would buy from a dealer, who charges a little more (and considering the scope of this whatever the difference is, it really is just a little more), rather than go to the bank and get it for less.

I think I can tell you ... at least why I personally would prefer to deal with a currency dealer.

Every time you go to the bank, make a deposit, make a withdrawal, even change a fist full of hundred dollar bills for twenties ... it becomes part of the banking records. You cannot wink at the teller without it being on the security tapes and every transaction that has your name or address or phone number or account number on it is part of a paper trail.

Now, not all that is bad. The banks have a responsibility and rules to follow. Good for them.

But I object to having every little detail of my life stored away on some disc somewhere that can be accessed by any government official who thinks he has the right to do so for whatever purposes.

Yes, the dealer keeps records. But more than anything with the dealer they are submitting to the regulatory authorities number of sales, descriptions of bank notes, profit and loss and all the commercial attributes of the business. They are NOT a direct infusion of your personal information to the heart of the government.

I am NOT a government spy nut, but I do resent their intrusion into my life in so many ways. There may be ways I don't know of that they get my information from the dealer's files, I don't know. But I do know what happens with that information at the bank and I will do what I can to avoid it.

Just the way I see it.

smee2

Excellent perspective, Smee!

[detroitjazzman]

I can go to my local 5/3rd bank and get 1 million dinar for $1050 + $5 shipping, but if I were to order it through DT or another dealer, it would run around $1220 for 1 million dinar + $20 shipping + $25 for the wire transfer with your bank. Thats $1265 per million with the dealers.

I went to purchase some more dinar and have always gotten mine from my local 5/3rd bank (rate is roughly .00105), but decided to place an order with DT to only find out that I would be paying WAY too much for it. I got on DT and placed an order for 500,000 dinar in 10,000 dinar notes and the price came up to $660 with shipping ($20 more for the 10,000 notes and I dont know why) + the bank transfer fee of $25 on top of it all. I decided to not to place the order and instead will just go back down to my local 5/3rd bank and get roughly 700,000 dinar for what DT was charging for 500,000 dinar with all the fee's. I will also ask my local 5/3rd bank if they can get it in 10,000 notes. I'm sure they can and I'm sure it wont cost anymore, but if they cant get 10,000 notes or it is going to cost more for the 10,000 notes, I'll just pass on it. Its really not a big deal if I cant get them anyway, just thought it would be cool to have another denom. Also, banks may get you currency that has been distributed and used, but who cares, its all worth the same.

Why on earth would anyone get their dinar from the dealers when you can go to you local bank and get it for roughly $200 cheaper per million?

Yesterday I received my dinar from 5/3d and I received 250000k and it was all in 5K notes

[moneymachine86]

The difference is that with 5/3 it could take even 3 weeks for them to receive it while DT or DB already have it in stock and send it out to you.