I have been working in Iraq for 8 mos, Iraq is doing very well regardless of the media’s disturbing coverage.  Water is flowing to the fields of starving southern Iraq and commerce is doing well.  Schools have been open and life is much improoved.  Most of the rebellion is from outside influences.  The new Iraqi dinar will rise and soar to levels not seen here before.

Mark, thanks for adding a little first-hand perspective to the discussion.

The old Dinar had to go, if only for the sake of purging the image of Saddam off of another institution.

No one is advocating erasing him from the history books - on the contrary, I feel he should be well documented there.  But the people have been oppressed by his visage for 20 years. 

It is vital to remove the posters and statues and clean the money in order to convince them that he is gone - and is not coming back.

I personally have lived in iraq for 8 months also , and have alot of iraqi friends , they are excellent people who deserve to be free of saddams reign , ive heard horrible stories since ive been here and seen it for myself , my vehicle has been shot full of holes , but i believe these people need our help, and i love helping them , theyre are so greatful , this is a country unexplainable to others you have to be here, everyone else in the world is spoiled , they need to get a grip , and use their heads , i believe in the dinars progression, thanks craig

I have lived here in Iraq for six months and believe the value of the New Iraqi Dinar will also rise.  These people have never had a chance to live in a Democratic society.  Business will flourish.  It is just a matter of time.  I have personally aquired 2.5 million new Dinar.  Go Iraq!!!!

I think that will end up being a solid investment, Paul.

I JUST WANTED TO ADD TO THE FORWARD THINKING PEOPLE THAT BELIEVE IN GROWTH & RESOURCE POTENTIAL . THIS COUNTRY IS POISED FOR MAJOR GROWTH WERE THE PEOPLE EXPERIENCED THAT ABOUT 20 YEARS PRIOR ,WERE KILLED - INPRISIONED OR FLED THE COUNTRY AFTER SADDAM CAME TO POWER . NOW IT’S THE PEOPLE’S TURN TO PROVE TO THE WORLD THAT THEY CAN BE A REAL PLAYER IN THE WORLD . THE DINAR CAN DO NOTHING MORE THAN INCREASE . THERE ARE SOO MANY CLOSED MINDED AND JUDGEMENTAL PEOPLE IN THIS COUNTRY AND THAT’S ABOUT FAR THEY WILL GET IN LIFE .I BELIEVE THAT THE FIGHT AGAINST EVIL TERRORISTS WILL CONTINUE FOR MANY YEARS TO COME , BUT THERE MUST BE A POINT WHERE GOOD PEOPLE MUST STAND UP TO THOSE WHO GO TOO FAR . WE WILL SEE THE DINAR INCREASE AND THE MEDIA WILL INTERVIEW MANY PEOPLE THAT BECAME WEALTHY , MABEY THAN PEOPLE WILL SEE THE OPPORTUNITY AFTER IT HAS PASSED!!!!
I SUPPORT OUR TROOPS

IRAQ BUDGET FOR 2004 HAS A DEFECIT OF 67 MILLION USDOLLARS OF 1000 BILLION NID.THE PARITY AS OF TODAY IS NID 1455 TO US$1.DEBT TO G-8 COUNTRIES IS USD120 BILLION.NEIGHBOURING COUNTRIES DEBT IS US$4.2 BILLION.NID WILL NEVER APPRECIATE AS ITS DEBTS CAN ONLY TAKE REPAYMENT FOR 120 YEARS IF PAID US$1 BILLION YEARLY.

Well I was in Kuwait the first time this happened and didnt buy in to all the hype about the KD rising in value.  Boy was I wrong, soldiers became millionares over time.  I have invested in this one.  It was at 0.37 at the begining of this conflict and if it makes it to 0.01 i have profited.  My only regret is others who do not understand this is a tried and true method, and may be a good reason Haliburton, Shell, Mobile, Bush, and Cheney are all investing in the same thing.  I do not expect major advances immediately, but I do expect a gradual and steady climb in the economy, as it stands they can only go one way and that is up.

MY 2 CENTS
RODNEY

Thanks for the Cents, Rodney.  Hope you get the Dollars.

Well Well Well.  I too invested $200 US in the new Dinar.  What can I loose?  $200?  O well, it’s the risk many are willing to take from generation to generation.  I remember when we were throwing yellow bags of food from the planes to help feed these people...now they have money to get their own food.  It hasnt been that long ago...wonder what will happen from here on out.  My guess is as good as yours but my risk may not be as good as yours either!

People are not ever comfortable with change. The New Dinar is a gold mine waiting to be found. I’ve got mine.....now let’s see Iraq’s economy explode. Western businesses are lining up to get there. As for their debt, staggering right now. But negotiations are under way with the G-7, Paris Club and many other debtors to reduce it between 75% and 90%. I for one am not going to sit on the sidelines and watch an opportunity of this magnitude go by. Good luck all and Go IRAQ

Ok, you guys have just about convinced me to scrap together a few hundred dollars and purchase some dinars.  (Trying to convince the Queen!)

I did some checking on eBay and there are many quantities and denominations for sale.  Another option is Dinars for Less where you can get 1 million dinars for $1250.  I’m thinking an investment of $200 is something that I can safely risk.  Just put it away and keep and eye on the exchange.  (My stock options sure aren’t going anywhere.)

i bought about 25,000,000 IQD i hope i will end up a millioner ... please goad help iraq

I don’t get it. Why would people who have potentially zillions of dollars worth of ID in their hand sell it for less than 1/10 of what they say it MIGHT be worth in the next few months?
I’d think they’d be holding on to all of it - they’d be banking better than Oprah in the long run.

I have sold collectible banknotes for over 6 months.  The reason people sell them, ReneGede, is to make a profit.  I have 25 million stashed and if I sell some on eBay (http://www.goldtown.org) for $1140 per million, I can use my contacts and purchase a few more.  Like the ‘cakewalk’, when the music stops, we win!
Yea Dinar!

I too think that this is a great investment, but please be sure where you get your Dinar from. I am based in the Iraqi Theater and have bought 3,000,000 IQD @ 1440 RQD to the $1. I don’t know if there is a way that you can get it cheaper than $1200 per million in the states, but I would be willing to help people get their IQD at a much lower rate. I’ll check back here to see if anyone is interested. Then I’ll post my e-mail address. Just want to help people make some money without spending more than they need too.

DJ

I have purchased 2.5 million dinar.  I was wondering if anyone knows exactly how we are all going to exchange the dinar to U.S. dollars?  If the dinars go up just a little I would like to sell off a million and pay off my house, then I will sit on the rest and get greety!

I would assume that international exchange will be possible within a few months.  Maybe a bit longer - they may have jitters about the new currency and would hate to purchase something which turn out to be unstable.

I have been in Iraq for the past 5 months serving in Operation Iraqi Freedom.  I see good things from the Iraqi people, and they are eager to get thier country up and running smoothly again. The economy will no doubt pick up once oil production swings into high gear.
Like many others, I too have purchased about 1.5 million new dinar.  I look at this as a long term investment opportunity.  My military retirement sure could use some help, so I am going to keep my fingers crossed!

dont be the one to get laughed at in 6 months to a year be smart buy IQD

Ladies and Gentleman for those thinking that they are going to turn rich overnight, I dont think that this will happen this way. Also you bought the IQD for less than a fraction of a penny so if you use the comon sense math there is no way this currency can get a lower value of were it stand at this precise moment. For those that are not believers I witnessed myself in Kuwait how Arabs were buying millions of dollars in Iraqi Dinar.
The arab mentality doesnt allow them to invest o anything unless they are getting a profit. As the rest of the IQD owners I will seat and watch this roller coaster of wealth coming my way.

I just purchased 5 million dinar off a tip from my brother’s fiances law office one of the lawyers has a contact at Wells Fargo who is in Baghdad setting up an office.  There are a handfull of people in his circle that have bought over $500,000USD in dinar on the hopes that it will go up and they can retire early.  I have just recently started researching about the new iraqi money.  Has anyone heard that it might be going up within the next couple of weeks?  I also heard that it could go up this Nov. when both U.S. and Iraq has free elections.

I’m currently assigned in Kuwait as an American Contractor.....I have purchased over 4 million IQD so far with varying exchange rates from 1400 to 1470 per dollar. Funny thing about this is.....every time I go to the money exchangers to buy, I wait in line behind Kuwaiti Nationals buying 25 million IQD at one pop. Some locals say its going to be expensive wallpaper.....others say its going to be huge. It will take some time though. I sent mine Stateside and put it in a safe deposit box. I will look at it in 3 years. Another tidbit of info for the curious.......www.isx.iq.net. Check it out!

I don’t really think this is a great ‘get rich quick’ opportunity.  There is a fair amount of risk involved and no guarantee that the money will last or rise in value.

However, it is indeed a rare opportunity to speculate on a new currency which has the potential to increase in value.  Because the price of the Dinar is so low, even the little guy can get in with a modest investment and still see significant gains.  (If things work out well in Iraq - which I believe will happen.)

My dad was working in Iraq and purchased some dinars. He gave me about 300 thousand dinars. I want to know if it has gone up in value since the capture of Saddam.

The Iraqis are selling it on my base at a rate of 1,000,000 NID for $770 USD.  I just bought 760,000.  Tomorrow I will buy the other 240,000.  By the time my deployment is over I plan to have at least 3 million NID.

Iraq is the second largest oil producing nation in the world… I don’t see how they could fail.

I got some new iraqi dinars and I prey that George Bush stays in power so he can buy all the Iraqi oil, that will make the country rich again and everyone lives happily ever after. Especially me. I didn’t buy that much.
10x25,000 Notes and 100x1000 Notes.
I am a little worried that I shouldn’t have got the 25,000 notes. If you think about it if the currency does go up ,then that one (1) 25,000 dinar note will be worth like thousands of US dollars. That doesn’t sound right. Thats like having a 10,000 dollar bill. I don’t think the lady at McDonalds is going to change that…
So I got some lower denominations.
I have a feeling they might get rid of the 25,000 dinar note…
Who knows…
We will just have to wait and see…
I wonder if Saddam likes the new money

Does anybody has an idea what happened to iraqi dinnar if iraq disintegrated into three parts i.e. sunni, shitee and kurds area.

I am in Iraq right now and have purchased over 1.8 million NID.  I have done alot of research on it and I feel that only a fool would not take the chance on investing.  Iraq makes over 40 million USD a day in oil alone.  Any one thinking clearly can see that it will go up.  the question is when and how far will it go…

everyone says that the dinar went off at .33 before the current war if that is the case would someone please explain the first paragraph of the article t this link.

http://www.globalsecurity.org/military/world/iraq/currency-reform.htm

Ok, lets look at the entire situation before everyone starts thinking about early retirement just yet.  Buying any amount of Iraqi Dinar is an investment that could go well or fail miserably.  Looking at the sunny side of the prospect, a person could buy 1 Million Dinar (about $750 USD) and sit on it for a while.  If the Dinar raises in value to 1/10th of a penny, that person would have immediately made $930 on the investment.  If it reaches a penny, multiply that times 10 and so on. If it reached pre 1990 levels, that $715 investment would earn just over 3 Million Dollars. That sounds good to everyone.  The problem is the amount of money being sold today.  If everyone you know is buying millions of Dinar, then in the future Iraq’s central bank will have to honor the new prices.  Talk about a run on Iraq’s bank in the future.  Make no mistake, Iraq is a newly formed country and it could take decades before sufficient capital is invested before the Dinar is worth more than toilet paper.  With that being said, buying Dinar and investing in Iraq’s future and economy could be lucrative in the long run.  When the average Iraqi is able to go down and buy a Toyota and sip $4 lattes at Starbucks, your small investment now could be worth something in the future.  A weekend in Vegas will buy about 1 Million Dinar.  Instead of that weekend in Vegas, take the gamble, sit on the money for 20 years and think of it as a side investment next to your regular portfolio.  If it doesn’t work out, Dinar will probably still sell for 1400 to 1 and you won’t miss out. Don’t hedge everything on Dinar, but take a small gamble and see what happens.

Words of wisdom, kbrad.  Never invest more than you can stand to lose, and don’t count your chickens before they hatch.

If you have some extra to jump in to the Dinar investment, then do it but plan on waiting a long time to see any profits.

I jusy came home from iraq about two weeks ago. when i was their i invested in over 925,000 Iraqi Dinar. for anyone that thinks that this is a shure thing they deserve to lose the money. like many has said this is just an investment. I mean nobody invests money in the stock market knowing that they are about to be rich or evrery body would be rich. Also if anyone knows a good web site to look at so see current rateslet me know.

I just left Baghdad where I worked as a contractor for the Coalition Provisional Authority. I’m scheduled to return to Iraq in Aug. I along with every other contractor I know purchased millions of Dinar. Like everyone said before, it’s just an investment!

There are 100 good events (un-reported) happening per every one bad thing the “Communist News Network"(CNN) reports. For some reason, the media only reports the bad stuff. What if there were reporters on the Beach of Normandy during D-Day? They really would have had their work cut out. 

Everyone be patient! If anyone wants to check keep updated on the Dinar exchange rate, check out the following link. http://www.xe.com/ucc/full.shtml

Here you will find up to date world exchange rates. Keep in mind, if you want to purchase additional Dinar, the best way is to aquire a contact already in Iraq. In Iraq, one can buy 1 million Dinar for 650 to 750 USD, suppose to paying 1200 to 1400 USD per 1 million Dinar on the net. Kuwait money traders are already making a huge profit on the Dinar as you will pay close to 1000 USD for 1 million Dinar at the International Airport in Kuwait

Baghdad Fireman

Speculation is driving the NID at the present time. A country with over 30yrs. of economic repression and three wars during Saddam’s rule is not going to rebound in the near future. Unlike Kuwait’s recovery during the last 13yrs. Iraq will have to practically rebuild it’s entire economy and prove to it’s neighbors and to the world that it does have the drive to go the dstance to become an economic power. Newly elected officials with a VISION will be needed to lay the framework that will most likely take 20 to 30yrs. to rebuild the country by sensible estimates… By then the face of the currency will change several times over and independent currency holders will be left holding the bag with outdated, invalid currency that did no one any good except the people of Iraq. I would’nt throw my money into a very highly unstable market at this time if you have expectations of a quick profit.

How much is the dinar worth in Iraq. What does the dinar get you. Lets say what does 1000 dinar buy you in iraq.

If I went to Iraq now or lets say when it settles down a bit. Would I be able to live like a king if I exchange my money over there. Surely there must have been Rich Iraqi’s before the war. Where did they live, what did they do.
Or do all iraqi’s live in dirt huts and live off the land.

Would they have a 5 star hotel where you could be kept safe from the terrorist and live like a king, seeing that their money is worth shit at the moment.

Not that I would want to go there anyway, but just asking hypothetically.?

Peace Brother

Larry: Although there is some wisdom in your comments, I think you are overlooking two key factors.

1. The US has made a major committment to rebuilding the country’s infrastructure and is pumping an incredible amount of money and people resources into Iraq.

2. Iraq has the 2nd largest oil reserves in the world.  Rebuilding their economy is not a big deal because they have such a valuable resource and there are many sources who want to invest in drilling new wells and maintaining the older ones.  A key factor in their oil production is stopping the sabotage that continues to plague them.

Unemployment is a big deal but with oil income, consider what a boon that is to the fledgling government.  It is like pumping money out of the ground - akin to printing money, but without the debt issues.

There always remains the risk of a currency change or a collapse but those are the risks you face with this kind of opportunity.  Potentially high gains with high risk.

The top three rules in investing are Diversify, Diversify, and Diversify.  Only invest money you are willing to lose in a high risk venture and split your investments across the spectrum.

The totality of the comments for this post do a fine job of reflecting the potential reward as well as the potential risks.

I would be interested in making a purchase of a million.  Is there anyone in Iraq who would be willing to assist with a purchase for a modest markup?

same here anyone overseas help me with getting some dinar?for a reasonable mark up?

Sorry Larry, but if Iraq wants to have any economic credibility and stability they will NOT change the currency. On 18 July they will be selling T-bills based on TODAY’S currency. IMF loan repayment will be based on TODAY’S currency.  They would not do that if there was any intention of changing the currency. It’s not going to happen. As for “sensible estimates”, the IMF is predicting economic growth between 30% and 70% this year alone. The risks from the insurgency are declining every day. I know because when I was there we were rolling them up every night.

DEAR SAIR
What is the expected rate of the iraqi dinar after the year 2004.

Bundi, there are many reputable dealers online who will get the Dinar sent overnight to you at a reasonable cost.

One more note Bundi, we can get 1Million Dinar on the ground in Iraq for around $750 USD.  The online dealers are selling a million for around a $1000.  Spend the extra cash for security reasons and go through someone who can take your credit card order and ship Fed-Ex. This will allow you to track your purchase. Us poor ground pounders here wait weeks to receive mail, and then there is always the possibility it gets lost or stolen.

We acan supply New Iraqi Dinar Million for $ 1300.

New 25000 Notes

Thanks
Asad Naqvi
California, USA
Ph:510-364-0655

We offer new Iraq Dinars shipped from the states for $875 per million.  Email us for details, we have 100% feedback on Ebay.  Thanks!

Ebay sellers provide 1 million dinars for about $890 plus shipping...total $916 shipped fed ex 3 day..jaki2000 is reliable seller, have purchased 2 million from him…

How do you know if a US Dinar dealer is really reputable and will make the exchange over the internet?  Is there any way to check this out?

Thanks.

my family has purchased over 9 million Iraqi dinar based on inside tips from a Lawyer that works with my brother’s wife.  This lawyer has a contact at Wells Fargo Bank in Iraq.  This guy sits in on the Iraqi Finance ministry meetings.  Since learning about this we have found a very relable contact in Jordan to purchase NID from.  He is an EBAY seller with a positive rating over 1900!!  You can buy 1 million dinar for $897.99.  http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&category=4369&item=5711363774&rd=1

Good luck and GO Dinar!

I have bought 13 million and am not counting on it hitting any time in the near future, if it does great but not counting on it, my question is there has to be some one some where who knows something, for a currency to be exchanged, people have to be trained on what the trademarks of the bills are,banks have to train..so on..
I know someone outthere has a family member that is high up at a broker firm orcurrency exchange....lets go folks,pull those resources!!!!!

Im from Australia, and I bought some to.
If all goes well I should be able to go into the local bank or exchange in my small home town, hand over a single paper note of 25000 dinar and the bank teller will give me a shit load of money.
My point is will the money change to a lower denomination as not many countries have a $1000 bill or more, if you know what I mean. What do you think?

How many of you guys have actually researched this, rather than consulting a friend of a friend of a friend?  Personally, I think the value of the currency could possibly go up 10-fold within the years to come, but I am highly skeptical that this currency would ever reach the levels of value that many people are claiming.

Also, I have found no credible records anywhere that Iraqi Dinar ever reached the equivalent to $3.  People who invested in Kuwati Dinar after GW1 did return a profit, but nothing of this scale.  Kuwait is also a stable and ambitious country, compared to current Iraq.  Iraq also has factions, as well as a huge debt.

Also, the numerical value of currency would seem irrelevant to me.  Sure, nobody in the US carries a $1000 bill.  However, isn’t the numerical value on a bill simply just a unit of measure?

The way this gets advertized, it almost sounds like a Pyramid Scheme.

It isn’t a pyramid scheme or anything like that.  It is simply one of those rare occasions where a currency has been grossly devalued and now with the regime change, there is the possibility of significant gains.

The risks are tremendously high but so is the opportunity for serious gains.  The interesting thing about this kind of investment is for a relatively small investment (roughly $1000) you can purchase 1 million Dinars.  If the value increases incrementally, your value increases 1 million times that increment. 

Basically, it is the penny stock of the currency world.  High risk, possible high returns.  If it is too much risk for your blood, we understand that completely.  No one should risk what they cannot afford to lose. 

I also agree that the money will not reach the ‘old’ level, but even a minimal movement in the positive direction will be great for investors.

All - I would like to invite you all to the following forum. Many of the questions you have have already been answered. We are a group of people who pool our research and resources.

http://www.investorsiraq.com/

I’m selling IRAQI Dinar for $900/Mil I get it from my brother who is a Marine MP in Iraq it will ake about 2 weeks or so .... if you would like to purchase an amount email me or call me 262-751-5110 my brother buys about a million or 2 a week.

I have bought my share of money and now I am just sitting on it and waiting. This is a marathon investment not a short sprint.  I have a life time to re-coop my money...no rush.  I just want to know does anyone have an Idea when the currency is going to be introduced to the world market. I am slightly skeptical about the money rising because as stated before..think of this as a cheap stock..but stocks as IPO’s rise on the buzz from the streets and demand.  Since this currency is soooo hot how come it hasn’t risen much in the last few months?  I agree that it can’t go lower and the upside is extrememly promising.  I would rather not convince you people to buy more currency.  If too many people jumped on it, I’m sure it would effect the economic balance and possibly cause inflation.  Everyone can’t be a millionaire!!!!

Sounds like everyone commenting here is on the right sheet of music when it comes to the Dinar’s Prospectus.  Bottom line: All of you that have purchased the currently undervalued dinar--for mere pennies on the US dollar--can rest easier than the average investor.  ...As long as your dinars are authentic, and the Iraq’s oil fields aren’t about to go belly-up in the next few years, and you haven’t been diagnosed with six months to a year to live, then you don’t have much to worry about at all.  Not many things are guaranteed in this life, but in large or small increments the increase in the value of the Iraqi Dinar is imminent.

My compliments to you all!

One more thing:
I have a buddy heading to Iraq for a seven month tour of duty.  He and I are eye-to-eye on investing in the dinar currency, and I plan to buy mine straight from him while he’s there in country.  ...But, should something happen (always like to have a plan “B") and I can’t get dinars through him; can any scrupulous individual out there refer me to a reputable source to purchase them at here in the US at the higher/going price?...

**posting a reply here would be fine--I’ll check back often for an answer.

Thanks in advance, and happy investing.

There are obviously more Iraqi Dinar dealers here than sharks on chum.

I’m not buying for a minute all these post from “people over there.”

Beware those who seek advice, you may very well be suckered.

I AM here in Iraq, and I can tell you that Dinar is real and available, for somewhere between $700-770 depending what part of the country you are in. The internet prices are twice that rate. I’ve taken advantage of the uncertainty and bought a bunch. the only thing I wonder about is the security of shipping it home. I don’t want to risk having it appropriated by some airport security goon or a luggage pilferer on my return trip.

Anyone with any experience in moving mounds of Dinar back stateside?

i think God has something in store for us… i pray a lot.  i bought 100,000,000

There is so much to consider. I rushed into the deal. I bought 3 million for about 2700. The thing is I bought it in 25,000 dinar notes. I think if the value goes up, iraqi banks will revert to the same princibles as the did before. Thieves stole the printing presses and started printing their own money. The notes printed were of 10,000 dinar value. If the dinar does rise, 25,000 notes will be stolen from any source available. And if some how a printing press is stolen, banks will have to completely abolish the 25,000 dollar note for the lack of credibility....either way IM SCAREEEDDDD!!!!

I agree with the comment about not everyone actually being in iraq.  I say that right before I say that I am in iraq.  stationed in the green zone currently, been working in iraq for over 6 months, my company’s been here a year and a half.  Anyways, I believe it’s a good investment, as I have invested myself.  I have seen first hand that the economy is picking up as iraqi’s are opening businesses and capitalizing on this opportunity.  my question is....what happens if the economy does pick up drastically and they change currency again?  what happens to the old currency?  sure there are smaller bills but the majority of them are larger.  lets hypothetically say that the iraqi dinar goes 1:1 with the US dollar.  chances are before that happens they are going to change currency to that more of like kuwait, which has as low of 1/4 dinar bills.  If by that time I’m sitting back home in the US, does my stack of 25,000 dinar bills become worthless?  anyone truly know the answer to this question?

I agree with the comment about not everyone actually being in iraq.  I say that right before I say that I am in iraq.  stationed in the green zone currently, been working in iraq for over 6 months, my company’s been here a year and a half.  Anyways, I believe it’s a good investment, as I have invested myself.  I have seen first hand that the economy is picking up as iraqi’s are opening businesses and capitalizing on this opportunity.  my question is....what happens if the economy does pick up drastically and they change currency again?  what happens to the old currency?  sure there are smaller bills but the majority of them are larger.  lets hypothetically say that the iraqi dinar goes 1:1 with the US dollar.  chances are before that happens they are going to change currency to that more of like kuwait, which has as low of 1/4 dinar bills.  If by that time I’m sitting back home in the US, does my stack of 25,000 dinar bills become worthless?  anyone truly know the answer to this question?

joeschmoe, yes, put it in your wallet and take it home on your next trip, or in your pocket.  you’re allowed to bring it back into the US.  don’t pack it in a bag that’s stowed because those are searched coming back into the US.  just carry it.  even if you have a large stack put it in your carry on as you should keep that with you.

To Jeremy,

As long as your dinars are authentic, then I believe that you have nothing to worry about regarding the possibility of Iraq producing a 1/4 dinar note as it’s value begins to grow in leaps and bounds.  I read the other day that there are five to seven more world banks/institutions scheduled to set up shop in Iraq by the end of this year.  “Very good news!” So, as long as “authentic” Iraqi Dinars are recognized by the world’s major banking institutions for trade on the world currency markets then it’s a no-brainer. ...the smaller note would primarily/only come into existance for ease in daily, normal, on the street type purchases--it shouldn’t affect folks like you and I that are holding them as a long term investment.

For those seeking to buy Iraqi dinars in the U.S.A.,Go to New Iraqi Dinar,everything you are looking for is there.

Mike, the printing presses that were stolen were for the old dinar. The new dinars are NOT printed in Iraq, they are printed in Britain

Thanks for the tip about traveling with dinar. That’s what I intended to do anyway, but I also thought it might be worth the expense to ship it home via priority mail, or better yet, use DHL. Any thoughts on this?

BTW, the paranoia of Iraqis starting the presses, even if they had the presses, is unfounded. There is a lot more security features to these new notes as compared to the last ones, which even the US military was able to quickly counterfiet and air-drop during the last Gulf War. In fact, most of the souvenier notes being sold now are fakes, easily printed on home computers.

I hear that the man running the Iraq National Bank is pretty squared away with enough experience to know not to inflate the currency. That and the fact that Kuwaiti banks are helping to back the currency is reassuring.

I don’t believe there is anything to worry about as far as the government discountinuing the production of the 25,000 dinar. The British helped design the layout as well as the security issues in the final printing of the new money. There is a very slim chance it would be counterfited well enough to pass a basic inspection.

Look at any bill in a bright light and you will see the security tape like US money and the watermark. Just wait for the value to increase.

Jeremy - One last thing, you should stay on top of the news to see if they do come out with a new currency and an “amnesty” period for the exchange of 25K notes. Still, this wouldn’t necessariy render 25k notes worthless, just a pain in the ass to get cashed. Hell, there are still a few of those old US bills floating around that say “will pay to the bearer on demand”
on them, in spite of having been pulled from circulation years ago. Don’t sweat it.

My husband is in Kuwait and has purchased some NID. He said that rumor are that Wells Fargo is going to come to Kuwait and buy the NID back around the end of September. Is this ture?

Spires -

That’s the first and only thing I’ve heard about Wells Fargo doing anything. What do you mean by “buy back the NID”? Are you suggesting that they’re changing the currency?

No, I heard the rumor too, if they did get envolved it was a good sign I heard.

does anyone know where you could exchange the iraqi dinar in the states?

The dinar is not freely traded on the world markets yet, that’s why banks won’t deal with it right now, and the only place you can buy it outside of Iraq is online at what I consider ripoff prices (double the value). So no, you can’t yet exchange the dinar in the states like you would any other currency.  This is supposed to change in January, I hear. Can’t confirm the date, however.

thank you JoeSchmoe for the reply

I have read all the comments by different people on this page, i have some points to clearify.
“what will happened if the new iraqi currency will be changed.”
“some people said that they dont have proof that in past the dinar was equal to 3$.”
i live in pakistan and i have bought old iraqi dinars, but when the new currency arrived i have changed the old ones with the new ones at a local money changer. And for the information of all the people out there, the last date of changing the old Iraqi dinar with newer ones was 31st March 2004. so, i m sure that whenever the iraqi currency will be changed in future, they will again give a time frame to exchange the older ones with the newer ones.
secondly here is the link from where u can see the historic value of dinar.
http://finance.yahoo.com/currency/convert?from=IQD&to=USD&amt=1&t=2y
here u can see in the graph that the 1 IQD was equal to more than 3$, and it was constant in last 2 years till Jan 2004.
and i m sure that the NID will be increased InshaAllah!

Here is a good source of information on the new iraqi dinar.  Includes great pictures of the money, tells you how much the Dinar really costs and what you can expect to pay for markup, and also includes a currency coversion tool.

http://www.iraqidinar.org does not sell Dinar’s, just gives you information and points to talks such as this one.

Buying the new Iraqi Dinar as an investment is pure folly. It is at best a gamble that ranks right along with craps in Vegas. I sincerely hope it does appreciate in value over the next few years, and I have purchased some (because I am a gambler, not an investor). The huge problem is that there is more of the new money outside of Iraq than is inside of Iraq due to this investment speculation craze and the presses must be printing it like crazy. The more of these new dinars there are, the less they will all be worth, money supply 101. If anyone who has already invested hopes to be able to unload them at some future point, the market for investing in the new dinar must be shut down and the money printing slowed.

I concur. The NID will not rise as much as people speculate. The max (Very ambitious) it can touch is $0.1 in 3-4 years time. Don’t forget, there are 6 trillion NID, 4 trillion in circulation, by that standard it will never be the same as 14 years back. They’ll probably delete 2 zeroes to make it a viable currency, i.e. a 25,000 NID note will become NID 250.

Has anyone heard when the dinar is expected to be placed on the world trade market

don’t forget to pay attention to Biblical Prophecy about Iraq.  Iraq will become one of the most wealthy countries in the world...there is a window of opportunity.  For those avid Bible readers, and those who are interested, go study and chew on the info for a while.  Again, the key here is “a window of opportunity”.

Kurtis, I’ve heard it can open for world trade as early as june/july 05.  Not a confirmed rumor.

Sleep over it for 3 - 5 years.

I expect a 10% retracement from 1989 levels....in other words, looking at 1 dinar = $0.33

For every one million Dinar you purchase today, the potential is for it to rise to about $330,000.

Look at it another way, even if it rises to $0.05, you are still looking at $50,000 for every $800 investment.

Sleep over it and hope for peace in Iraq.
Vinod

Tee:  I have heard the same rumor and even met a guy who claimed to have documents stating this, but when I tried to get a copy he blew me off. No one I know of has been able to verify this date.

Where can you convert new dinars to US dollars?

Please send an email response.

You can’t exchange dinar until it hits the world market and as of now no one knows when that will happen.  Your other option is to travel to Iraq and exchange it at the Airport

1) There are now more than 16 trillion NID in circulation (as of Jan 30th 2005)
2) CBI the central bank of Iraq(their equivalent of our Fed) is releasing more and more Nid to compensate for NID leaving Iraq (7 trillion in-country)
3) The supply is being diluted on a huge scale vast quantity of new dinars entering the economy, devalueing the existing stock
4) The NID is one of Iraq’s chief exports for USD revenues(second only to oil) they figured that out at the end of December 2004
5) The Ministry of Finance and CBI’s job is to control
the rate(1460) keep it
stable and to avoid any spikes or huge jumps in value.For this to happen many in the cabinet(MOF) would lose their jobs
and would unhinge Iraq’s economy.Translation: keep the NID off the market at CBI’s managed fixed rate of exchange for years (1460-1000)
6) The numerical value of a countries currency is irrevelant.just look at Japan
Less than a penny per Yen with a 3.5 Trillion dollar GDP and GDP per cap of $28’000
100 yen is looked at as 1 dollar,1000 yen= ten dollar,5000=50 dollars 100000=100 dollars
an increase in a countries economy does not neccessarily translate to an increase in the value of its currency
what is primarily important is not the value of the currency in parity to the USD,but how many
notes one would recieve monthly or yearly in salary and the PPP(purchase power)
look at it this way if the NID rate was to increase to 1000NID/1USD a 1000 note would be worth
$1 USD an Iraqi blue collar worker making 96 USD monthly(projected GDPper cap for 2006)
or 140’000 NID per month is not concerned what the numerical value of the currency , but what his purchase power is with the 141 -1000 notes he recieves each month
The government is fully aware of the present currency note model and plans for its future along with the IMF & World Bank.

Countries currencies do not spike to 3000% for a reason
#1 & 3 are a major problem that should concern anyone ‘investing’ in the NID
Question: why is the World Bank and IMF not addressing this?(vast quantity of NID being sold to speculators) perhaps #4 is the answer

Whistleblower…

Where did you come up with “1) There are now more than 16 trillion NID in circulation (as of Jan 30th 2005) “

CBI numbers show it to be more on the order of 11.5 trillion total in existance and only 6.8 trillion in circulation outside of bank deposit.  http://www.cbiraq.org/key financial.xls lines 47 & 48 While we can argue that the CBI is posting false information, it is unlikely for a country trying to gain IMF and WTO status to “cook the books”, unless you want to start talking conspiracy theories and then what you are posting is clearly not fact but more in the realm of fairytail.

The number is interesting, but to post numbers as fact without giving any supporting documentation is counter productive.

Will this “crap” ever end!!!

Whistleblower is wrong. I’ve read at a couple of forums their is only 11.5 trillion in existence. Look at the forum below. I believe it is in the dinar speculation forum.

http://www.aboutdinar.com/index.php

I’m thinking of buying a small amount of the new Iraqi Dinar but have heard that it will be impossible to find a buyer when it is time to sell. What are your thoughts on this?

Jacobi

I AM ONE FOREX TREADER!((FROM IRAN))
I expect a 23% retracement from 1990 levels---in other words, looking at 1 dinar = $0.77
time is unknown for this forecast! 1-10 yerars

Jacobi - you will probably only sell your dinar when it has value.
When that happens it will be on the world currency exchanges.
Dinar buyers are looking at 3 to 5 to possibly 7 years before they get a substantial return.
The problem won’t be “where” to sell it, but to have the patience for “when”.
Just my 2 cents worth - John

JustAGuy - From my readings you’re right - I think the $3 was the “official” exchange rate from Saddams government. I’ve read (don’t quote me) that the real value was about 32 cents.
I do think that an investment that can go up 10 times in several years is a good, albiet speculative deal, so only invest what you can afford to lose.
And be ready to wait - again - just my 2 cents - John