Anyone invest in Iraqi Dinar?

[strapped4family]

I'm about to buy $5,000,000 Iraqi Dinar with a friend as an investment opportunity. Anyone done it, or think it's a stupid idea?

[Deschain]

What good are old notes if the old government is gone?

[Longtooths]

I'm about to buy $5,000,000 Iraqi Dinar with a friend as an investment opportunity. Anyone done it, or think it's a stupid idea?

Funny enough I did hear of a co-worker doing the same thing several months back. Not sure if it panned out or not...

[PeterJasonMN]

How much experience do you have with currency speculation, and just how much USD will it take to accomplish getting 5M dinar?

[strapped4family]

We are splitting $4600 USD worth of Dinars (around 5,000,000 Dinar)

I have no real experience in currency trading.

[Easterbrook]

We are splitting $4600 USD worth of Dinars (around 5,000,000 Dinar)

I have no real experience in currency trading.

Does your friend?

I don't know much about currency trading, so I don't participate.

If you do and you've done your research and it points to the Dinar being a good investment, then go for it.

[strapped4family]

Here's what I'm thinking, and the most common arguments for investing in Iraq:

#1. Iraq has the world's second largest oil reserves
#2. Iraq is stabilizing.
#3. The Kuwaiti Dinar made millionaires over the course of a decade after the Gulf War, Iraq has the same if not better potential.

You invest $925 to purchase 1 million Iraqi Dinar.

* Profit of $9,075 if the Iraqi Dinar appreciates to 1 Iraqi Dinar = 1 penny.
1 million Iraqi Dinar will = US $10,000.
* Profit of $3,199,075 if the Iraqi Dinar appreciates to the pre-Gulf War rates.
1 million Iraqi Dinar will = US $3,200,000.

[slewfoot]

Not me, I am investing in Zimbabwean currency.

[PeterJasonMN]

Just remember to be prepared for losses, and the loss of real spending value in the time it might take to realize a profit.

[OrangeJoe]

What good are old notes if the old government is gone?

The old dinar is worthless. The new dinar is worth...????

This is not investing, it's gambling, if you go into it knowing that, all is well. You may hit the jackpot.

The fact that the OP calls this 'investing' is not a good sign.

[PeterJasonMN]

Granted you can make a ****load in the currency speculation market (George Soros for example.


However, it's not something *I* could get into, no matter how small the value. And with a small value, comes no real return, so why bother. If the money the OP is willing to front won't put him in a bind, or leave him living up to his screen name, then what the hell. Why would it be any different than going to Vegas?

[dewidmt]

Hey, I got $1000 worth of it with Saddams portrait on it....got it off a couple of Iraqi soldiers who...no longer needed it.....interested?

[NickC50310]

The old dinar is worthless. The new dinar is worth...????

This is not investing, it's gambling, if you go into it knowing that, all is well. You may hit the jackpot.

The fact that the OP calls this 'investing' is not a good sign.

Agreed. I dont even know anything about this but I gathered this same info in under five minutes of "research".

Hey, I got $1000 worth of it with Saddams portrait on it....got it off a couple of Iraqi soldiers who...no longer needed it.....interested?

That stuff will never be worth anything unless it as a collectors item.



OP check out this site:

http://www.iraqidinar.org/

[clipper100]

If there was a PRESENT market for exchange ... Yes!

Once we are gone... That country will divide... Your currency which NEVER had a market will be WORTHLESS.

[220-9er]

At least you don't have to feed and pick up after them like Alpacas or Ostriches.

[TDR]

My son bought 250,000 about a year or two ago.
I have no idea if it has gained or lost any value since then.
I don't think it's a stupid idea.


I'm about to buy $5,000,000 Iraqi Dinar with a friend as an investment opportunity. Anyone done it, or think it's a stupid idea?

[tbhracing]

There was a big ad in USA Today about this. Pretty conviencing marketing referring to the money made after the Kuwait invasion.

[220-9er]

Just sounds like another get rich scheme to me. Kuwait was a somewhat stable country that Iraq invaded for a short time then went back to business as usual.
I'm not a currency trader and unless you are and have done extensive research this is just another fast buck scheme by the people selling you the Dinars.
Have you done a search and checked them out for complaints???

[clipper100]

AGain folks....

There is Noooooo market for this currency.

And there never will be.

[strapped4family]

AGain folks....

There is Noooooo market for this currency.

And there never will be.

How can you speculate like that?

You are talking about a nation that is holding onto GIGANTIC wealth. Second largest oil reserve in the world.

I am 23 years old. If Iraq stabilizes in even 15-20 years, I still have an amazing retirement plan.

If it doesn't, I still blow more money per month at the bar and casino.

[Sugarfree]

You'd make more money selling dinar to American investors than the other way around.

[eisman]

think it's a stupid idea?
Yes, it's a stupid idea.

I have friends who've been hoping for years it would work. I think they lack common sense also.

Look around at the Gulf States. NONE of their currency is traded. Saudi's should have a big lead if this happened, but nada. Kuwait has been free and prosperous for decades and there's not trade in that currency either. (If there had been the chances are that Saddam would never have attacked, as the banking nations would have immediately crushed Iraqs finances.)

If you go to any Gulf State (and I've been to 4) you'll find real deals are done in Dollars and recently Euro's. You MUST spend any local stuff in country as it is impossible to exchange.

Iraq is never going to have the economy of Russia and nobody wants Rubles. Think about it.

[DriBak]

Go for it, I've dropped more than that in strip clubs

[clipper100]

Have you ever heard of the US Stock market??

[tbhracing]

Quick Yahoo search-

www.dinartrade.com/latestnews.htm

www.iraqi-dinars.com/before-buy-iraq-dinar.php

www.trustdinar.com/faq.html

[Biscuitsjam]

Go to an Iraqi market and exchange dollars for dinars - the exchange rate is COMPLETELY different from your "official" rate.

[PeterJasonMN]

Have you ever heard of the US Stock market??


Enron
WorldCom
Circuit City


It's not your money, so relax. With spirits like your's, no one would have invested money in the WA firm of a Harvard dropout or in the company of some nerdy guy from Omaha.

[L Cast]

does anyone know the exchange rate of dinar to dollars?

[L Cast]

After reading this thread I realized I had a $250 old dinar with Saddam on it, I'm sure its not worth anything but its kinda neat. I had a big stack of them but gave them away a few years back.

While typing this my mom called and said my brother gave her $90,000 in new Iraqi dinar that he acquired while he was in Iraq. I bet her it was worth $5 bucks American and she laughed and said "that much":rofl::rofl:.

[chadster1]

I'm about to buy $5,000,000 Iraqi Dinar with a friend as an investment opportunity. Anyone done it, or think it's a stupid idea?

Is the company that is selling them also offering to buy them back? I mean we are just talking about a simple currency exchange.

[GlockRules]

Assault rifles: both fun AND a good investment!

[Tony44]

I don't think I would invest over 4 grand in them but your disposable income might be greater than mine. I am sitting on 300 large with no reasonable expectation that I'll even break even. As long as you view it like that you won't be disappointed.