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Well… maybe. 🙂

I’ve been taking a look at this Iraqi dinar investment talk that’s being discussed here and there. Most people (investment advisers) are down on the prospects that it’ll actually pay off.

Essentially, because the Iraqi economy is most likely at it’s lowest point going into the future, it’s worth maybe speculating a little on its currency. They just issued brand new Iraqi dinars and got rid of the old currency that had Uncle Saddam’s picture on it. They’re saying that it’s one of the most secure currencies against counterfieting since it was designed using the very latest in anti-counterfieting technologies.

Anyway, 1 dinar (IRQ) is worth .0007 cents. Or, to quote it the other way around… 1460 dinars to one US$1. So the exciting part about this is that once the economy starts to get on its feet and the nation starts to come out of the influence and specter of war, the terrorists are defeated and their oil reserve can be tapped (2nd largest oil reserves in the world) the tinar will start to increase in value.

I’m of the opinion that 15 or 20 years from now, we might just be looking back and wondering why we didn’t hawk our grandma’s teeth to buy Iraqi dinars. However, it is a very risky investment because we never know how the international markets will handle the trading and value of the dinar. It’s actually not even traded as of yet and no international banks will even buy or sell them. Plus, the value is fixed at the current level indefinitely. I’m assuming because if they didn’t set it, each bomb blast will send the value plummeting lower and lower until you’d have to bring a pickup load of paper bills to buy a glass of water.

But the speculator part of me (located right around the left butt cheek) says that if I just buy 1 million dinars and sat on them for a LONG time, I might just have sealed my retirement in spades. If not, I’ll have a million dinars to take a trip to Iraq and hopefully pay for my stay. (Post suicide bomber era!)

I’ve done a lot of research on where to buy them and the best place is actually ebay. Here is a link to all the dinar auctions. To give you an example, you can buy 500,000 Iraqi dinars for $480. If the value of the dinar gets back up to the Saddam imposed artificial value it was set at before the first gulf war of $3.30 per dinar… well, you don’t have to be a math genuis to figure that you’ve got yourself a nice return. From $480 to $1.6 million. Yowza.

There is a bit of precedent here. There were a lot of currency speculators that were buying up Kuwaiti money right after the first gulf war when it had plummeted in price. But they had a good economy prior to the invasion and assets invested overseas… etc. They didn’t have a national debt such as the likes as Iraq has.

Anyway, caveat emptor. But boy, it sure would be cool to be on the gravy side of that train if it comes in, huh?

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160 Comments

  1. I have yet to find a dinar selling site (that sells at a reasonable price of less than 900$ USD per million dinar) that has an automatic affiliate program. Maybe you should start such a site. I’ll definetly sign up as an affiliate.

  2. Hi Ilya,

    This is an affiliate program for $850/million!

    Regards Marcel.

  3. We built a site for a Company called Ompus who is offereing an affiliate program and you can get 1 Million for $850.

    10M for $825.

    Everyone will want to secure at least $100 or $500 worth.

    http://www.myFreeDinar.com/mel

  4. i wanted to know if i can find a investor that will help me sell the dinars like in a bank or something please let me know. thank you

  5. Smells like sh… Why should I pay for the participation in some affiliate program. I’m still looking for a normal, free affiliate program. Have a lot of traffic from SEs to my site on this theme.

  6. I bought 1 Million Dinar from http://www.TurnDinarToDollars.com for $890. They were fast and efficient. They replied to all of my emails within 24hours. I highly recommend.

  7. Just a word of warning for all who are planning to purchase Dinar. Do not purchase off these people. Check out this link about the following corrupt companies… http://www.badbusinessbureau.com/reports/ripoff147817.htm

    Companies listed:
    dinarmerchant.com
    usdinar.com
    goldendinars.com
    gidassociates.com

  8. My husband was able to purchase from a bank over in Iraq and we “invested” $600.00 US Dollars = 851,000 Iraqi Dinars and by today’s rate of exchange (11/28/2006) my original investment is worth $616.00. What a great return! think of it on a larger scale, what if I had enough money to spend $100,000.00 US Dollars, my increase on investment would be approximately $2,666.00 in only one years time. We like so many others look forward to cashing in twenty years from now.

  9. The dinars will make any investor wealthy by todays standards,as well as the vietamese dongs. The key is patience!!!! The terrorists crap is nothing more than a stepping ston,that 100s(many) other factors actually will control the dinars outcome. Its a different world out there today, and now is the time to get on the wagon of wealth.

  10. If you want cheap dinars find someone in iraq. I bought 75,000 dinars for about 40 bucks. But i bougth them more for sentimental value not for investment purposes. 20 years until any payoff? ive seen these people, it’ll be more like 50-60 years

  11. Go to the bak and buy them. I bought mine through Bank of America at the exchange rate. They get their bills directly from the Nation Bank of Iraqi. I woudn’t trust these websites selling them.

  12. just join the Marines and go get a bunch of dinars for free like i did!

  13. Boneheads !!!!!

    Who cares if you pay $850, $900, or even $1100 for a million Dinar. We are talking about a roughly $200 difference for an investment that may go up 1000%.

    Its a crap shoot I know, but if you are getting into the game dont cry about finding the cheapest price, just buy the dinars.

    I got mine at Chase bank. I walked in, went to a customer service rep and told them I wanted to buy dinars, the rep laughed a little in shock, and the next day I had my dinars.

    I paid $1089 for 1,175,000 dinars. If that is a little high I dont care because I dealt with a reputable bank, got currency that I know is genuine, and did not have to order them online form some company I know nothing about.

    If you do buy them I would say to get them in medium size denominations that way if they do go up in value you can walk into a regular currenceny exchange place and not have to notify uncle sam.

    I made the mistake of getting them in 25,000 dinar notes. If the enchange rate ever goes to a 1 to 1 ratio, I would have to cah in at minimum one 25,000 dinar note for roughly $25,000; and I am sure uncle sam would definitely be getting notified with a $ 25,000 transaction.

  14. I DON’T KNOW IF ANYONE IS AWARE THAT THE CHASE MORGAN BANKS DO SELL DINARS @ 23.21 PER 25,000,00 DINAR…. AND THEY WILL ALSO BE DOING THE EXCHANGE WHEN THIS DOES GO THROUGH….. YOU JUST HAVE TO HAVE FAITH AND BELIEVE THAT WITH GOD ALL THINGS ARE POSSIBLE…..SO FOR THOSE OF YOU WHO HAVE LITTLE FAITH, BELIEVE THAT WHEN GOD PROMISES HIS PEOPLE SOMETHING HE NEVER RENIGS…. GOD BLESS ALL OF YOU….. AND MAY ALL OF YOU BE BLESSED AND HOPE THAT YOU ALL WORK FOR THE LORD…..

  15. Making Affiliate Money

    nelbar: It has always been my position that Uncle Sam is the one dictating the policies and decisions of the Philippines. No RP President could have been elected without Uncle Sam’ s blessing. Perhaps with the exception of Erap whom America disliked….

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