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Understanding advantages/disadvantages of "uncirculated"(new) vs "circulated"(used) IQD


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DId they not build these security features into the money from the beginning if yes then old and new should not matter ?????

If fact I remember reading on one of the dinar dealers sites that old dinar was harder to come by and it was more expensive but in fact it seem the contrary is true anyone got a comment on this.

Cheers Chilli

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I have about half and half of each depending on where I bought it.

The way I see it is if I take a $100 bill to the bank it is worth the same amount no matter if it is used or uncirculated.

Do you think the bank is going to give you more at cash in for the uncirculated? No

However the dinar dealers are getting $100-$200 more per million for the uncirculated.

You just have to be sure that you are getting good circulated bills that are not all ripped and marked up too bad. I placed an order with Regions bank back when they were selling them back several months ago. It was a large order. Didn't even look at it just put it in safe deposit box.

When I went to get all of my IQD out of safe deposit box I looked at it. It was the most rag tag bills I ever saw. Some were torn in half and held together by scotch tape, a lot of it was marked on. edges torn off, ect...

I was not a happy camper. I should have checked it out first.

I just got another purchase of circulated bills from an online dealer and they were in very good shape.

GP

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  • 4 weeks later...

Uncirculated is the way to go, no second guessing whether they will accept them or not...they will. A lot of circulated bills are in very bad condition and may not be accepted upon cash-in. Some are in good condition, but if your spending that kind of money, you might as well have piece of mind with uncirculated notes. Oh yah, and dinarck sucks uncirculated dong :)

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when dealing with uncirculated vs circulated I've notice when exchanging money overseas they tend to pay out more when its new crisped bills. don't ask me why they do this but they do it all over the world. the newer $100 dollar bills tend to get a better exchange rate than the $100 used ones.

Just figure I would throw in my :twocents:

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when dealing with uncirculated vs circulated I've notice when exchanging money overseas they tend to pay out more when its new crisped bills. don't ask me why they do this but they do it all over the world. the newer $100 dollar bills tend to get a better exchange rate than the $100 used ones.

Just figure I would throw in my :twocents:

Seriously what planet are you from ....... a $100 bill is the same value no matter if its fresh off the printing press or it has been handled by 1 million people ..... it's still $100 the only difference in exchange rate you will get will be the spread between different banks ....

Circulated or un-circulated ..... its all the same all notes have to be redeamed for face value by all financial institutions

Edited by The Machine
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Seriously what planet are you from ....... a $100 bill is the same value no matter if its fresh off the printing press or it has been handled by 1 million people ..... it's still $100 the only difference in exchange rate you will get will be the spread between different banks ....

Circulated or un-circulated ..... its all the same all notes have to be redeamed for face value by all financial institutions

You seem to think you know everything! mqchau did state overseas and that does not only encompass the area you are in. When going to United Arab Emirates my friend who works there takes the newer 100 dollar bills for currency exchange because the alot of the local exchanges tend to pay less for older 100 bills. If you are in the US and go to a bank then NO it would not matter because 100 is 100 in America! Now as far as Iraq money it would depend on the place you would be exchanging!

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Thanks suntiger for trying to clarify what I was trying to say...guess some people just don't understand. Yes, I do agree 100 will always equal 100 in the states but oversea when exchanging it it doesn't all change out to the same amount between old bills compared to new bills.

and yes...I am from the planet called Earth :)

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You seem to think you know everything! mqchau did state overseas and that does not only encompass the area you are in. When going to United Arab Emirates my friend who works there takes the newer 100 dollar bills for currency exchange because the alot of the local exchanges tend to pay less for older 100 bills. If you are in the US and go to a bank then NO it would not matter because 100 is 100 in America! Now as far as Iraq money it would depend on the place you would be exchanging!

Thanks suntiger for trying to clarify what I was trying to say...guess some people just don't understand. Yes, I do agree 100 will always equal 100 in the states but oversea when exchanging it it doesn't all change out to the same amount between old bills compared to new bills.

and yes...I am from the planet called Earth :)

Look I never said I know everything ..... did I ..... I dont think so?? anyway I've spent the most part of my adult life travelling the world working everywhere and anywhere .... i'm a nuclear design engineer .... I have encountered a hell of alot of different currencies .... not once have I ever exchanged newer notes for a higher rate ...... money is money ... new or old.

Now I'm not saying that this doesnt happen, I have never encountered it ...... anyway I prefer not to deal with dollars

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Uncirculated is the way to go, no second guessing whether they will accept them or not...they will. A lot of circulated bills are in very bad condition and may not be accepted upon cash-in. Some are in good condition, but if your spending that kind of money, you might as well have piece of mind with uncirculated notes. Oh yah, and dinarck sucks uncirculated dong :)

HaHaaaa funny :)
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