Skip to comments."INVEST" in Iraqi Dinar ?? (Yes or No) - My 2cents worth
Posted on 06/04/2007 4:22:45 AM PDT by davidosborne
A lot of folks are talking about investing in Iraqi Dinar, well for anyone who cares here is my 2 CENTS worth.
Yes, I have bought some Iraqi Dinar as a personal investment (at or BELOW the current exchange rate), and yes there is some risk. However, I find it interesting that many folks have spent large sums of money "investing" in Iraqi currency, and at times have spent MORE than what the currency is exchanged for here in Baghdad.
I do not understand this, so I guess I am asking if any freepers out there have bought Iraqi Dinar, and if so how much did you spend for it and why.
I am "giving away" TEN (1,000) dinar notes on ebay.. I tried to make the listing for a penny, but E-bay sets the min bid at 99 cents. Since I am really not in the Dinar business I really did not want to make a "profit" but rather make a point about this "dinar craze"
to make my point, I have no idea what the auction will actually close at, but if my theory is correct someone will snatch up ALL TEN, since I offered FREE SHIPPING, LOL
Anyway, look forward to your comments.
have YOU bought any Dinar? If so please tell me why.
The Number 1 reason to buy Iraqi Dinars....Great pictures of Saddam.
The Saddam notes are no longer valid? do you mean the OLD currency as a souviener?
I expect they will be replaced once the government is stabilized. The only reason for buying them is as a possible collectors item. I wouldn’t consider them an investment.
You're not a PR kind of guy are you? :^p
not really.. just trying to understand what the whole “dinar craze” is all about >>> LOL hey it possbile that I will LOSE about 7 bucks in this deal, if someone snatches up all ten for 99 cents.. LOL and then wants a refund, if the post office loses it.... NO WAY.. LOL
Kinda what I was thinking, but IF they are replaced, I would think that the locals would have time to trade in their old for the new correct? I don’t know, I am asking.. I know a lot of guys who have spent THOUSANDS even TENS of THOUSANDS on dinar.
I had to revise my listing to make it 2 for buck, otherwise the “investors” wont look at it being that 99 cents per 1000 would actaully give me a profit, which is not the point of this discussion..
Now. let’s see. Maybe some people know that every country the US has helped since WWII has turned into an economic powerhouse, and so will Iraq. In spite of all the dissing of Iraq by Dems, it certainly has the potential.
certainly a fair argument, that still does not explain why folks would pay MORE than the actual exchange rate for the Dinar. Can you help me understand that?
Maybe I need to add an incentive to get this conversation rolling. Any FReeper, (who is already on my ping list), sorry no newbees for this deal or I will go broke.. who participates publicly in this discussion and freepmails me your address, I will send you a free dinar note, either a 50, 250, 500, or 1000, whatever I have (my choice not yours), I am really curious about this, and really value your input... I plan to make this a chapter in my book, so really I am paying you (in dinars) for your input into this chapter.. LOL
BTTT does not count as participation for the free dinars.. LOL
That's easy, David. People read about it on some website that tells them this is a great investment. It's not that much money to buy ONE MILLION dinar. So instead of doing some research they envision the profits in their head and buy them. The difference in exchange rate and what is being charged seems like a reasonable rate for shipping. Also, people won't do a lot of work to find other avenues to get them. There is a bit of hucksterism on the part of the sellers
What prices are you seeing being paid? I looked at ebay and did a web search. Ebay is a little high for small amounts, but not too far out of range. If one just wants to dabble.
Thanks for your service.
I would tend to agree with you, however if an “invester” puts THOUSANDS into the Dinar above “exchange rate” the rate would have to go up significantly for them to make any profit at all. I suppose that is what they are banking on.
Thanks for you input. Have you bought any yourself?
David, I would love to receive one of your Iraqi dinars to show my 16 year old grandson who stunned our family with a conspiracy theory about 9/11. This is a boy who thinks Democrats are idiots and who visited Ground Zero the Thanksgiving after 9/11. His parents drove in from Ohio, wanting to show him first hand what the terrorists had done. I was privileged to go along as well. So we couldn’t believe he was taken in by these theories—he is a very intelligent boy. Of course many adults have been taken in by these outrageous theories, and believe they go all the way back to the American Revolution!
When “Debunking 9/11 myths” was released, I had a copy sent to him. I don’t know whether or not he has read it yet. He is very interested in the Civil War and visited Gettysburg with his father and uncle.
If I am lucky enough to receive one of your extremely valuable :) dinars, I would have his father—a finance guy—explain the history of it and also the possibilities of its future. But it would go to my younger son whose Marine Artillery unit was fired upon by the Iraqis in March 1991 during Desert Storm to show to his 7 year old son.
Of course George Soros may buy up all the dinars to destabilize the currency, his specialty. You could hold off for the highest price! :)
I thought about, then just didn't. What prices have you heard people paying? And what price should they be paying? On the web, the dealers are selling 1,250,000 more or less for around $800. Some are a little higher, some a little lower.
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