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come in and say hello to this new millionaire!

R

richardycc

Diamond Member
I've just bought 1million worth of Iraqi dinar for under $900USD on ebay! what do you think the future of dinar? Discuss 🙂


Rich
 
Well I know all the wealthy Iraqis kept their money in US currency, so I think your prospects aren't that good.
 
Originally posted by: ggnl
Well I know all the wealthy Iraqis kept their money in US currency, so I think your prospects aren't that good.
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I think that is due to the relative stability of the dollar. The Dinar might rise in value after reconstruction but I doubt it. History has typically shown that currency values depreciate after a country's reconstruction as typically a lot of money is printed during the reconstruction period.
 
Current exchange rate is 1460 dinar to the dollar, so you payed $900 for $700 worth of currency.

Edit: that's assuming that you payed for the new dinars. The Saddam ones are worthless as currency.
 
Originally posted by: sciencewhiz
Current exchange rate is 1460 dinar to the dollar, so you payed $900 for $700 worth of currency.
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hehhe, yeabb, someone insert the picture
 
Not me. I bought 750,000 worth of dinar with Saddam on it. I still think he will escape from prison and take over the country again. My investment was only $753, but I stand to make 100 times that.
 
Originally posted by: rudder
Not me. I bought 750,000 worth of dinar with Saddam on it. I still think he will escape from prison and take over the country again. My investment was only $753, but I stand to make 100 times that.
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wow, that's even more riskier than my "investment." good luck!


 
Originally posted by: rudder
Not me. I bought 750,000 worth of dinar with Saddam on it. I still think he will escape from prison and take over the country again. My investment was only $753, but I stand to make 100 times that.
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I don't know about that, but I do think that anything with Saddam's picture on it will become collectable.
 
You should have bought $900 worth of Iraqi sand instead. At least that could get turned into glass or sold to a golf course to use in their bunkers, so it wouldn't be completely worthless.
 
Originally posted by: GagHalfrunt
You should have bought $900 worth of Iraqi sand instead. At least that could get turned into glass or sold to a golf course to use in their bunkers, so it wouldn't be completely worthless.
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haha you make it sound like my dinar is worth nothing right now, I am holding the CURRENT currency that people are using right now in Iraq, and about 3-4months worth of salary for an avg person there. The only thing I have to worry about is if the new govt decides to cancel these dinar and issue a totally different currency, than I am screwed. I am willing to take this gamble.
 
Originally posted by: richardycc
Originally posted by: GagHalfrunt
You should have bought $900 worth of Iraqi sand instead. At least that could get turned into glass or sold to a golf course to use in their bunkers, so it wouldn't be completely worthless.
Click to expand...

haha you make it sound like my dinar is worth nothing right now, I am holding the CURRENT currency that people are using right now in Iraq, and about 3-4months worth of salary for an avg person there. The only thing I have to worry about is if the new govt decides to cancel these dinar and issue a totally different currency, than I am screwed. I am willing to take this gamble.
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No, your million dinar aren't worth nothing... they have a value.

I just wish idiots would pay far more for my stuff on ebay than what it's worth. Go to Bloomburg and check out the exchange calculator.

At this moment, your million Dinar
CALCULATOR RESULTS

1000000 IRAQI DINAR (IQD) = 682.5939 US DOLLAR (USD)
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Hey, I've got some Canadian dollars I'll sell to you... only $1.50 each! They'll be worth a lot some day if global warming makes Quebec the next vacation hot spot! (hey, it's worth a try)
 
For the $217.41 that you're out... maybe this new information might make you consider becoming a non-paying bidder for the first time. I think it's worth 1 negative feedback.
 
Originally posted by: DrPizza
Oh, here's where to go:
here
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I know what the exchange rate at the Iraq central bank, but since I am not getting it from the bank, I am paying the black market/secondary market rate. I don't think I want to risk my life to save that $200. All beanie babies were $6.95 each at the store, and the rare ones cost thousands on ebay at one time. It's all about what someone is willing to supply and/or pay.
 
Assuming that the dinar doubles or triples in value in the next few years, how are you going to redeem your new found wealth?
 
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