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Is it just me or is buying the low demons a waste?


Perspective2011
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I would like to get some views on what makes the 500 denoms priced at $3,750 per million a smart purchase vs 3 million of 25K or 10K denoms for $3,540?

An RV at any amount for the 25K or 10K would trump a costly 500 demon investment.

Note: Any rate can apply, just needed to give an example.

Even if one were to say that it will eventually go to $3+ in the future and you can hold onto the lower demons longer than the higher demons they are still losing out. Even a 1:1 would be $3,000,000 vs $1,000,000. The ability to hold the lower demons until it reaches $3+ dollars is a waste of time if it will end up being about equal months/years down the road.

Unless this is fear on a super low rate like .10 or .30 cents in the beginning with a limited cash in window on the higher denoms.

Any insight on this?

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I would like to get some views on what makes the 500 denoms priced at $3,750 per million a smart purchase vs 3 million of 25K or 10K denoms for $3,540?

An RV at any amount for the 25K or 10K would trump a costly 500 demon investment.

Note: Any rate can apply, just needed to give an example.

Even if one were to say that it will eventually go to $3+ in the future and you can hold onto the lower demons longer than the higher demons they are still losing out. Even a 1:1 would be $3,000,000 vs $1,000,000. The ability to hold the lower demons until it reaches $3+ dollars is a waste of time if it will end up being about equal months/years down the road.

Unless this is fear on a super low rate like .10 or .30 cents in the beginning with a limited cash in window on the higher denoms.

Any insight on this?

xcellent question, one I have wondered myself.

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I guess what we all hold is the "NEW" dinar. Are the lower denoms the "NEW, NEW" dinar? One thing to remember is that any bank transactions over $9,999.99 are reported to the IRS. The lower denoms would be less than that, but now that I've said that here, it'll probably be changed where ALL dinar cash-ins to banks are reported. Big brother is watching our site, IMHO.

Edited by tommyboy
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Even if it were to avoid the $9,999.99 tax reporting you would have a HUGE task trying to accomplish that. If you take 1,000,000 divided by 500 is 2,000 separate dinar bills. Depending on what the RV occurs at you would have to have to make plenty of trips to the bank. You may even need others to cash it in for you too keep you from reaching your limit.

I don't doubt for a sec that BB isn't watching. I am here for educational reasons.

I guess what we all hold is the "NEW" dinar. Are the lower denoms the "NEW, NEW" dinar? One thing to remember is that any bank transactions over $9,999.99 are reported to the IRS. The lower denoms would be less than that, but now that I've said that here, it'll probably be changed where ALL dinar cash-ins to banks are reported. Big brother is watching our site, IMHO.

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I guess what we all hold is the "NEW" dinar. Are the lower denoms the "NEW, NEW" dinar? One thing to remember is that any bank transactions over $9,999.99 are reported to the IRS. The lower denoms would be less than that, but now that I've said that here, it'll probably be changed where ALL dinar cash-ins to banks are reported. Big brother is watching our site, IMHO.

I have reasons to believe that if you bought dinar at any bank the IRS already knows about it.

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I don't think it's such a great idea...

I heard the same suggestion that buying low notes would offer insurance.

Folks here tried to reason with me, using figures similar to what you used, but I then felt the gurus knew more than the ones here that were trying to save me money.

I didn't go big; I got hundred each of the 50, 250 and 500 dinar notes.

There were 2 schools of thought...

If it was to RD, they wouldn't be affected ( wrong; I know better, now)

If there was a short time limit to exchange 3 zero notes, the smalls would let me take my time ( we now know, if it RDs, not only will it affe t all notes equally, but it will also be a long process)

Then there was the concept that smaller notes would let you somehow better control your tax liability...

I don't think any of the reasons that prompted me to buy lower denominations are valid; especially when the one doing the suggesting is tied to those doing the selling.

We each have to make our decisions. I offer the hindsight of mine.

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Absolutely

I have reasons to believe that if you bought dinar at any bank the IRS already knows about it.

I thought it affected everything, I am not 100% sure. It does not make sense to me that they would not be affected in some shape or form. Being penalized for having your bills in higher denoms would be stealing imo from their people.

I think the reason why the lower denominations are so expensive is because some people (not me) think that they will not be affected in the event of a deletion of 3 zeros.

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I wouldn't have anything do to with demons, whether they were low or not.

I wish I could just waste them all!!!ph34r.gif

tongue.giftongue.giftongue.gif

As far as your intended question it doesn't matter what size denoms you have, IF the IQD Rv's then they will all cash-in the same.

It would make sense IF the IQD Rv's to have some lower denoms to cash-in right away so you could have some money. It is my understanding that you will have to report anything over $10,000 upon cashing in (IRS angry.gif ).

I, myself, have several different denoms from the 25,000 IQD and on down

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I small denoms 250, 500, & 1k's back when the prices were still reasonable. I got them to hold longer than the large notes, to cash in small amounts at a time if necessary or advantageous.

The prices are so rediculous now, I would not buy any small notes. They are not worth more than the large notes at exchange, no point in buying them now.

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I believe you are all correct. It would be like if we lopped two zeros from US currency, and thinking somehow the 50.00 bill would not be affected. Then the 100 would become a 10 dollars, and the 50 dollar bill remain the same? Cannot be true. The 50 would lop and become .50 cents. It definitely affects all series of their currency equally. I saw no reason to pay the extra lift for smaller bills. That being said, would sure hate it if I was wrong!

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Exactly, it does not seem worth it. So far there has not been a solid response to backup the cost vs quantify of the larger denoms.

I small denoms 250, 500, & 1k's back when the prices were still reasonable. I got them to hold longer than the large notes, to cash in small amounts at a time if necessary or advantageous.

The prices are so rediculous now, I would not buy any small notes. They are not worth more than the large notes at exchange, no point in buying them now.

I was wondering who would be the first to catch/say anything about DEMONS, lol. I saw it after I posted :lol:

I wouldn't have anything do to with demons, whether they were low or not.

I wish I could just waste them all!!!ph34r.gif

tongue.giftongue.giftongue.gif

As far as your intended question it doesn't matter what size denoms you have, IF the IQD Rv's then they will all cash-in the same.

It would make sense IF the IQD Rv's to have some lower denoms to cash-in right away so you could have some money. It is my understanding that you will have to report anything over $10,000 upon cashing in (IRS angry.gif ).

I, myself, have several different denoms from the 25,000 IQD and on down

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I believe buying low demons is a waste of money. Why? Who benefits? Those who sell Dinar. It is likely that it does not cost them any more money to purchase low demons as large demons (current exchange rate for all IQD) but if you go out and circulate rumors it is more valuable to have regardless of the truth then who benefits? Dinar delears. They can charge way more than its worth and increase their profits and it keeps people like okie pumped for more stories to increase sales for the delears and im sure even the pumpers get a bit more kick backs when they increase dinar sales for whom they work for. JMO.

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The only argument I have ever heard is shipping cost!!! :lol:

Ok, yea....riiiiiiight, it takes a couple thousand extra to import 2000 bills.

I believe buying low demons is a waste of money. Why? Who benefits? Those who sell Dinar. It is likely that it does not cost them any more money to purchase low demons as large demons (current exchange rate for all IQD) but if you go out and circulate rumors it is more valuable to have regardless of the truth then who benefits? Dinar delears. They can charge way more than its worth and increase their profits and it keeps people like okie pumped for more stories to increase sales for the delears and im sure even the pumpers get a bit more kick backs when they increase dinar sales for whom they work for. JMO.

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As stated before, the ONLY reason for the speculator (you and I) to buy lower denoms is for cashing in purposes IF a straight up Rv happens. That way you can have access to some money(>$10,000) right away without having to report it to the IRS.

This would be the only reason to have at least some lower denoms.

I would not recommend having much more than some, though.

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I would like to get some views on what makes the 500 denoms priced at $3,750 per million a smart purchase vs 3 million of 25K or 10K denoms for $3,540?

An RV at any amount for the 25K or 10K would trump a costly 500 demon investment.

Note: Any rate can apply, just needed to give an example.

Even if one were to say that it will eventually go to $3+ in the future and you can hold onto the lower demons longer than the higher demons they are still losing out. Even a 1:1 would be $3,000,000 vs $1,000,000. The ability to hold the lower demons until it reaches $3+ dollars is a waste of time if it will end up being about equal months/years down the road.

Unless this is fear on a super low rate like .10 or .30 cents in the beginning with a limited cash in window on the higher denoms.

Any insight on this?

Right now as far as I know my dinar is equal to any in circulation in Iraq. If they intruduce a new dinar and they say it takes 1,000 of mine to be worth the new it really wont make a difference which I hold bigger or smaller.

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Your right, I meant to include that. :)

As stated before, the ONLY reason for the speculator (you and I) to buy lower denoms is for cashing in purposes IF a straight up Rv happens. That way you can have access to some money(>$10,000) right away without having to report it to the IRS.

This would be the only reason to have at least some lower denoms.

I would not recommend having much more than some, though.

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THE CBI has said that the trade-in from old dinar to new dinar will not happen quickly,

HERE IS THE ARTICLE..

August 13, 2011

On: Saturday 13/08/2011 10:32

Baghdad (news) .. The Central Bank of Iraq to the new currency that will be the deletion of zeros will be printed in three languages, Arabic, Kurdish, English as indicated by the application of the Constitution, pointing out that the old currency will be dispensed gradually.

The central bank adviser said the appearance of Mohammed Saleh in a statement to the Agency (news) on Saturday: the new currency will be printed in three languages: Arabic, Kurdish and English, the real opportunity to apply what was referring to the Iraqi constitution, stressing that the aunt of old will not be canceled immediately after issuance of the new, but will be dispensed gradually.

Saleh pointed out: there is no difference in the currency on the new rights at the exchange rate and the purchase, saying: When you want to buy the rotor b (1200) dinars, we will buy and dinar (200) fils.

He added that the project to delete the zeros approved by the Department of the Central Bank has been forwarded to the Council of Ministers and MPs, when approved will be worked by hand.

The central bank adviser that the purpose of the project to delete the zeros of the three is to reduce the large numbers of objectionable transactions, which will reach trillions, and the blocks will be shortened without cash disparage and wealth or income, they are all be fixed.

And that the project will be working gradually, and differs from the previous project, which began at the end of the year (2003) and continuing until the end (2004), and expected to take the project over time more and continues to years and thus we note that the old currency will gradually disappear.

SOURCE

We never really know what we can believe in the news that comes from the CBI,

and articles released...ARE NOT FOR US... They are for the citizens of IRAQ,

because how many times have we heard conflicting news and the very next day it changes again...

But from the above article... it seems that their is no hurry-up and cash in the big bills situation when this revaluation happens,

PLUS,

if they hack the zeros from the big bills...

then the decimal point of the small bills moves also, both/all currencies will be re-denominated equally,

not just the big bills, so the only way that the little bills would do any good is:

if they recall the big notes prior to a complete revaluation,

but the end result will be whatever happens to the large notes will surely happen to the small notes equally...

as this has to be fair to the citizens of IRAQ, and most likely they hold far more large notes than worthless small notes...

IMHO

Proteus

Edited by proteus
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The lower denoms are a waste if your paying that much more......there is no point....if it RVs then all bills will carry the new rate and if they lop all bills will be affected but there were some gurus pumping the lower denoms saying if it lopped then the lowers would be safe which is simply not the case at all.....bottom line, if you buy the lower denoms at such an inflated price you are getting scammed.....

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Hopefully others will read this thread and not make the mistake of paying outrageous prices for lower denoms.

The lower denoms are a waste if your paying that much more......there is no point....if it RVs then all bills will carry the new rate and if they lop all bills will be affected but there were some gurus pumping the lower denoms saying if it lopped then the lowers would be safe which is simply not the case at all.....bottom line, if you buy the lower denoms at such an inflated price you are getting scammed.....

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