Iraqi Dinar on ebay - make millions?

slowen

What's the big deal on ebay with people selling Iraqi Dinar currency claiming that you will make a fortune from it when the rate increases but apparantly it has never been traded outside of Iraq according to Xe.com and sounds like the paper is worth more than the actual currency

Where are people getting vast amounts of this currency from if it has never been traded outside of Iraq?

Can anyone shed any light on this craze on ebay at the minute

Why you won't become a millionaire
http://www.xe.com/iqd.htm

Ebook from Floodle ragrding the Iraqi Dinar
http://www.floodle.net/extra/ebayinfo/millionaire_in_one_day.html

nillhouse

lol, isnt the national currancy of Iraq, the Dollar at the moment, I could be wrong, infact, probally am, but I think I heard it somewhere!
Therefore, the Dinar would be as usefull as a pesata!
Correct me if im wrong please!

MrB_2

The idea is that when everything settles down the dinar's worth sky rockets and everyones a winner. The sad truth is that toilet paper will probably be worth more.

slowen

That's what I thought

Might buy some to use as toilet paper then...lol
How are people getting hold of loads of the currency? is it being sent over from Iraq?

PINGA14

http://money.cnn.com/2004/08/10/pf/expert/ask_expert/

Another one to look at

samanthaknd

lol you can probably buy these at your local currency convertion place, for what use I don't know though, because to be quite honest I just don't see them going up in value, if anything maybe you can use them in a scrapbook or something?.

CIS

There was something I was reading about this a while ago that suggested once evrything settled down they where going to replace the old currency completely. If they did that and restricted the currency to Iraq only then unless your going to go there and change it, ita effectively over night.

tonyivb

I imagine that they are getting their supplies from all the squaddies and civilian contractors who are out there. I imagine that they buy it on the black market for dollars/pounds/euros/swiss francs as they'd get a much better deal than the official rate which is 1479 dinars to 1 USD.

One thing these sellers 'forget' to mention is the rampant inflation in Iraq at the moment... I just spent a few moments on google where many sources are quoting figures of 22-25% for January alone. Going by those figures if you bought £100 'worth' of dinars today their effective value in a years time will be around £7

No wonder the shysters on eBay are so keen to offload them!

Aiadi

Indeed if the value of the currency rockets then it will have to be replaced. The country is flooded with the bloody thing and everybody will be a trillionaire otherwise. Don't be fooled people (unless you are in need of cheap toilet paper).

black-saturn

I thought it was against ebay rules to sell currency anyway?