Frequently Asked Questions Before Buying Dinar

1. Why is it more expensive to order 1 Million Dinars in smaller denominations than it is to order 1 Million Dinars in 25,000 notes?

This is because of a couple of reasons.  Firstly it takes 40 notes to make up 1 Million in the 25,000 denomination.  For the 5,000 denomination it takes 200 notes to make up 1 Million.  That is 5 times as many!  This adds to the cost of importing and exporting orders.  Not only that, it takes 5 times as long to ensure every one of those notes are 100% authentic.  Availability of the lower denominations in uncirculated condition is harder to get your hands on as well.  This adds to the process and it can take longer to get your shipment to you.  So as you can see, the smaller denominations are more labor intensive and therefore are more expensive to order.  If you do want smaller denominations this is not a problem.  Just contact us with your order size, specify which denominations you require and we will send you back a quote.

2. How long will it take for my order to be shipped and who is it shipped with?

All orders take 3-5 business days to process depending demand.  International orders are sent by FedEx Express and are expected to be delivered within 2-4 business days between metropolitan areas of major cities.  International buyers are able to track their order by going to http://www.fedex.com and entering your unique item number.

If you are a Malaysian resident you have the option of Cash On Delivery (COD) for a small fee.

3.  Why can’t I buy New Iraqi Dinar from an International bank or money exchange?

International banks and money exchange will not have any New Iraqi Dinar to give you because it is not a traded currency at the moment, because of its low value.  Once the International Exchange rate has been set, you will then be able to go to any International bank or money exchange and turn your Dinar to Dollars.

4.  How long will it be until the International Exchange rate is set?

Nobody knows for sure, when the International Exchange rate will be set for the New Iraqi Dinar.  It could be a couple of months and it could be a couple of years. To be honest, for the potential returns that this investment offers, I am willing to wait!

5.  Once the Exchange Rate has been set, at what price should I cash it in?

I am not a financial advisor so this really is totally up to you.  No-one can predict the exact twists and turns of market, not even the experts.  If the exchange rate returns to its prior war figure of $0.33 US per Dinar than you could certainly exchange it all then.  If you had 1 Million Dinar it would be worth $330 000 US!  Nothing to complain about!  Many plan on exchanging a small amount of Dinar then and keeping an eye on how Iraq’s economy and oil production continue to progress.  So as you can see, it really is totally up to you.

6.  How can I follow the changing value of the New Iraqi Dinar?

You can find the week to week institutional exchange rate changes at the Central Bank of Iraq.

7.  Why can’t I buy Dinar at the current rate that is listed at the Central Bank of Iraq?

That rate is only available to institutions in Iraq or to account holders at banks over there.  I do not even get it at this price. This is because my business partner takes his profit out of the difference.  When you purchase Dinar from us, you are basically paying us a convenience fee for bringing the Dinar to you.

8. Do you personally recommend investing in the New Iraqi Dinar ?

Please keep in mind that we DO NOT give Financial Advice as we are not legally eligible to do so. The decision to invest is totally up to you. This is also stated in our Terms and Conditions. We simply state the facts of the investment and it is expected that you also, will do your own research.

9.  What if Iraq decides to change their currency again?

This is unlikely.  It is very expensive for a country to change its currency and there are no indications that this will ever happen again.  The New Iraqi Dinar has been very well received by the people and has unified the country under one currency.  Many people in Iraq are proud of their currency as it reflects a lot of great history and strength in Iraq.  The New Iraqi Dinar is also a reminder to the people that Saddam is now out of their daily lives.  In 2004, they started making smaller denominations and coins to cater for the continual rising value of the Dinar.  This is also confirmation of the countries long term commitment to their new currency.  However, please keep in mind that we are not liable for any changes that Iraq as a country makes that may affect your investment.

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