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"
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=330129921432
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.
David
you might have to cilck on “display more currencies” if you dont see Iraqi Dinar on the menu
Buying UNDER the current exchange rate is a fair “investment” in my opinion only because the dinar rate is on a slow but steady rise..
LOL.. that was so good, I will send you one of each for FREE.. just for being the stellar FReeper that you are.
Thanks for the info.
I have several dinars my son brought to me when he returned from Iraq. I keep one very old and beat up one in my wallet..every time I see it I send a prayer to our GI’s..
What a great idea, SE Mom—Now I’ll be able to join you in that.
I bought a 25,000 dinar note a couple of years ago. I don’t recall how much I paid, but it couldn’t have been much or I would remember. I bought it because I hope that eventually the Iraqi people will have a better future. I checked the www.ex.com site, and the current rate is about $20.00. The site provides very useful information about the current and future possibilities.
20 bucks per 25K is about right here in Baghdad right now.. who knows what it will be after the SURGE.. I suspect it can only go up.. I have been watching it climb daily over the past several weeks.. I think this is an idication that the Iraqi people are slowly becoming more confident in their security.. lets pray this continues for the sake of their country, not just so all the “dinar” holders can get rich..
I made this chart as quick ref for way the Dinar stands right now.. who know what it will be weeks, months, or years from now..
Iraqi DINAR
1,000,000 = $800
500,000 = $400
325,000 = $260
250,000 = $200
225,000 = $180
125,000 = $100
100,000 = $80
75,000 = $60
50,000 = $40
25,000 = $20
10,000 = $8
1,000 = 80 CENTS
500 = 40 CENTS
250 = 20 CENTS
100 = 8 CENTS
50 = 4 CENTS
True, in general, but every country? Maybe "some" people know that, but I wouldn't term, e.g., Vietnam, an economic powerhouse. And Germany doesn't use the same pre-war currency, does it?
Sorry, but Claire means clear and your quibbles seem so foggy that you must be drinking beer at a bar.
Don’t drink. So, I’ll be explicit: your statement is wrong.
hey now you two be nice.. :)
Well that reall moves the ball down the court.
First bid is IN, and as I suspected someone has bid on ALL 10 at one time. I really wanted them to go to 5 different people not all 10 to the same guy.. so here is the deal.. if you bid on just ONE set ONLY and mention this thread, I will deduct 50 CENTS from your FINAL BID, and still give you free shipping..
Just trying to make this interesting..
David
Interesting observation as I watch iraqi dinars on e-bay.. I am facinated by the fact that the smaller bills are selling for a higher price than the large bills. LOL isn’t that like paying a buck for quarter?
Someone please help me understand what in the world people are thinking..
You Wrote: 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.
Do you mean the Sadaam notes being replaced? if that's what you meant, that happened back in 2003. I am talking mainly about the NEW post 2003 Iraqi Dinar. just to clarify your comment.. The Sadaam notes have been worthless for the past 4 years, except to throw darts at maybe..
The craziest thing about this whole thing is that some American people will buy a 25 dinar coin for about 2 dollars on e-bay.. but you can a MILLION dinar for under 800, so if you trade your million dinar in for coins and sell the coins on e-bay you just made 80,000 dollars.. someone check my math, is this for real??? All I can say is that some Americans are stupid ! LOL
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