Talk:Iraqi dinar

From Wikipedia, the free encyclopedia

	This article is part of the WikiProject Numismatics, which is an attempt to facilitate the categorization and creation of accurate and formal Numismatism-related articles on Wikipedia. If you would like to participate please visit the project page, where you can join and see a list of open tasks to help with.
B	This article has been rated as B-Class on the quality scale.
High	This article has been rated as high-importance on the importance scale.

	Iraqi dinar is part of the WikiProject Iraq, an effort to build a comprehensive and detailed guide to Iraq on the Wikipedia. If you would like to participate, you can edit the article attached to this page, or visit the project page, where you can join the project and/or contribute to the discussion.
???	This article has not yet received a rating on the quality scale.
???	This article has not yet received a rating on the importance scale.

1 First discussion
2 Does anyone know?
3 Fils?
4 Spammers comment
5 Speculation section needs improvement
6 Size
7 IMF Article?
8 War profiteering charges?
9 Dinar Pictures
10 Fair use rationale for Image:50dinarsback (Small).jpg
11 Fair use rationale for Image:50dinarsfront (Small).jpg
12 Fair use rationale for Image:5dinar.jpg
13 Coin gallery

[edit] First discussion

Even if the Iraqi Dinar gains value, (and it probably will), it will most likely be demonetized and new currency would be issued. Of course there would be another grace period for turn-ins, but unless you're actually in Iraq, where can you exchange a large heap of Iraqi cash? Even if you do manage to exchange them, (at maybe an extremely well-stocked airport kiosk), your "old" Iraqi Dinars would be converted to the "new" ones- they won't keep their old values, and you won't be rich.

For example...make a trip to Mexico and try converting an older 1000-Peso note at the current exchange rates. It won't happen! Don't be fooled. These new Iraqi Dinars are nothing more than inflation notes. Does anybody remember the million/billion/trillion-Mark notes of Germany before WWII? They're pretty much worthless.

If Iraqi Dinars were truly going to make money, why are the thousands of Iraqi currency dealers so over-eager to sell them? The majority of these bills are being exported through cash-strapped dealers in Jordan and Lebanon, (among other places). If they were great investments, they'd keep them for themselves.

This argument is fallible. There are plenty of sound, good, and profitable investments that are being offered by brokers throughout the world. In fact, almost every investment that exists has some sort of intermediary brokering the deal.

As a money service business reselling dinars, I can tell you that I have full faith in this currency – and it is by selling the currency that I am able to invest in it! As of right now, most of my profits have been going back into dinars.

Also, I don’t believe the dinar will be taken out of circulation when the value rises – for basic economic reasons. There are a LOT of costs associated with issuing a new currency, and it is usually done only in vary unique circumstances. The Iraqi dinar was purposefully designed to bear very little association with the western governments currently in Iraq – just to prevent a need for a new currency down the road. Also, the highest valued Iraqi dinar (the 25,000 dinar note), is worth less than $20 USD on the streets in Iraq. Throughout the world, notes valued at $1,000 USD or more are not uncommon (they even existed in the US 100 years ago). Therefore, I feel there’s plenty of room for growth.

An emerging Iraqi government could hardly afford that cost of replacing the nation’s currency, and would have little reason to do so.

Regardless, at [address omitted], we’re planning on offering to purchase back the old dinar (in exchange for the new one) – if this ever occurs. This is just because so many of our customers would be in the exact same situation. --SamOdio 18:48, 26 January 2006 (UTC)

Good Points Sam. I am also a Dinar dealer and we cover a variety of reasons and resources on our site for those who wish to research the New Iraqi Dinar further before making a purchase. We have links to many credible and objective sources about the Dinar. Matthew Yonan, Why Buy Dinar [address omitted]

Some of these dealers are using the business of selling the dinar as a vehicle to buy more for themselves. Many of them are the most avid investors. While the pre-WWII German currecency is an example of a failed currency. The post WWII German currency made many here in the U.S. billionaires. There are also 6 International banks approved to do business in Iraq, soon anyone will be able to turn in their dinar currency to exchange it for dollars here in the U.S.. Those with the vision to invest in post WWII Germany and Japan made fortunes in the currency trade. I found an excellent review of companies that sell the new iraqi dinar. After calling about ten of the dealers and asking them key questions about there businesses, I found this review to be very accurate. [address omitted]

ůŮĐšŇĤ== Advice ==

ÈèÊÛË As far as investing there are several sites that offer the new dinar and specialize in bringing it to the U.S..

This is totally legal and buying the new iraqi dinar may be the opportunity of the decade. I recommend investors look for an online dealer that offers a Guarantee of authenticy and verifies the currency through a De La Rue note counter. A guarantee of delivery and reasonable price are also important. As of 10/2004 the range in price for a million new Iraqi dinar is $999.00 - $2,000.00 USD. Avoid any that seem too good to be true as they probably are. But also avoid the highest priced vendors as they offer little benefit for their additional cost. Also avoid companies that try to push you towards purchasing. They should just give you the facts and let you make the decision. An acceptable time to ship should be within 1 week. The 25,000 dinar note is the most secure, but the lower denominations are about as secure as U.S. currency. ___________

That $999.00-$2,000 is a little on the high end. I've been searching around the internet and found many sites offering 1 million for about $850.00 To give you an idea of how much these resellers are making, as of 9-Jul-06 I was quoted 197 Kuwaiti Dinar(about $703.00) for 1 million ID at a Kuwaiti exchange shop. ___________

There is now a link to Oanda.com in the "External links" section of the article. This link shows a table of dinar/dollar exchange rates. According to Oanda.com, one US dollar was worth 1460 dinars on June 30, 2004, but the day before (June 29), one US dollar was worth only 0.322 dinars! I wish the article could explain the cause of this radical revaluation of the dinar. Or is Oanda.com simply publishing bogus data? If that's the case, it would be nice if the article pointed that out too. _____________

[edit] Does anyone know?

You've probably seen those sales pitches, selling the new Iraqi Dinar notes. Many of these promotions claim that speculators were able to buy up severely devalued Deutschmarks and Yen right after WW2, subsequently earning sizable profits as the defeated Axis powers stabilized and their currencies appreciated. Is this true or false? Just the facts please. Rearden Metal 07:41, 7 August 2006 (UTC)

These fancy websites (which I shall not name, Wikipedia is not a tool for advertisement) sell you those notes at a much inflated price. The prices are even higher than the prices of uncirculated notes sold to collectors (I found $22 for 25000 dinars. This is for 1 note only. Bulk volume should be even cheaper). --Chochopk 08:20, 7 August 2006 (UTC)

[edit] Fils?

This page says the fils was 1/100 of the Iraqi Dinar. Yet, the Kuwaiti Dinar is divided into 1,000 fils, and the dinar was introduced as equal to the British pound, both of which would suggest that it would've been divided into 1,000 fils. Nik42 18:20, 7 November 2006 (UTC)

Yes that is correct. Enlil Ninlil 08:51, 25 May 2007 (UTC)

Here is the real question is one US penny equivelent to ten fill's or one penny equivelent to one fill? This would have to be established as a frame of reference before Iraq could be accepted into the WTO or to meet requirements of article thirty of the IMF. Etom 04:03, 29 May 2007 (UTC)

[edit] Spammers comment

I'm removing the...

SPAMERS, please don't even bother putting advertisement here, as it will be reverted quickly.

since the article is now protected. --Anthony5429 20:34, 28 December 2006 (UTC)

[edit] Speculation section needs improvement

I added the IMF article from May 3rd, along with summary and some reactions from various Dinar speculators. Etom 06:20, 25 May 2007 (UTC)

I am removing the part put above the IMF articel (possibly a spammer), there has never been any evidence ever presented by any economist that currency speculation ever hurts an economy. George Soros's Bank of England fiasco is not regarded as proof, since there where other slam attacks conducted by Soros, I.E. media disimination attacks, etc. The other proof that is not widley publicized was the lack of physical capital that England has lost over the years, and the mistakes caused by their monetary policy. Unlike conventional wisdom, I don't think the Crown would appreciate their currency being backed by the Royal treasury. Etom 04:12, 29 May 2007 (UTC)

[edit] Size

Does anyone know the sizes of the various Iraqi banknotes? I hear that they are different sizes (unlike U.S. or Canadian notes, which are all the same size)--is this true? —Preceding unsigned comment added by 71.243.69.244 (talk • contribs) 06:19, 14 April 2007

[edit] IMF Article?

There is some question as to the intent of the May, 3rd IMF article, if it was refering to the old saddam notes or the new notes released in 2003. I would hope the May 3rd article was refering to the New Iraq Dinar so the hardships by the Iraq people to earn their new freedoms and the loss of many American Soldiers was not for nothing. If this is not the case we would need to lock both pages from editing from possible terrorists. Etom 04:37, 29 May 2007 (UTC)

[edit] War profiteering charges?

Has there been any war profiteering charges been made public charging opponents to the Iraq war and or against the Iraq people? Etom 04:40, 29 May 2007 (UTC)

After further research I have concluded that contrart to belief, speculation on the Iraq dinar is not as wide-spread in the states as once thought. Therefore, war profiteering charges should not be a factor even for those thought to be speculating in the Bush administration. To throw these people in jail would be like throwing your best friend in jail. Etom 00:05, 16 July 2007 (UTC)

[edit] Dinar Pictures

i was wondering if i could have permission so add a full set of pictures for the table of denominations. i have all the pictures-- comrade_korolyov 9/18/07

You dont need permission, just use the fair use rational the 25,000 dinar in the infobox. Others will eview your uploads. Enlil Ninlil 05:59, 18 September 2007 (UTC)

Sorry also you need to comply with copyright laws of Iraq as well. Enlil Ninlil 04:43, 30 September 2007 (UTC)

[edit] Fair use rationale for Image:50dinarsback (Small).jpg

Image:50dinarsback (Small).jpg is being used on this article. I notice the image page specifies that the image is being used under fair use but there is no explanation or rationale as to why its use in this Wikipedia article constitutes fair use. In addition to the boilerplate fair use template, you must also write out on the image description page a specific explanation or rationale for why using this image in each article is consistent with fair use.

Please go to the image description page and edit it to include a fair use rationale. Using one of the templates at Wikipedia:Fair use rationale guideline is an easy way to insure that your image is in compliance with Wikipedia policy, but remember that you must complete the template. Do not simply insert a blank template on an image page.

If there is other fair use media, consider checking that you have specified the fair use rationale on the other images used on this page. Note that any fair use images lacking such an explanation can be deleted one week after being tagged, as described on criteria for speedy deletion. If you have any questions please ask them at the Media copyright questions page. Thank you.

BetacommandBot (talk) 04:41, 12 February 2008 (UTC)

[edit] Fair use rationale for Image:50dinarsfront (Small).jpg

Image:50dinarsfront (Small).jpg is being used on this article. I notice the image page specifies that the image is being used under fair use but there is no explanation or rationale as to why its use in this Wikipedia article constitutes fair use. In addition to the boilerplate fair use template, you must also write out on the image description page a specific explanation or rationale for why using this image in each article is consistent with fair use.

BetacommandBot (talk) 04:42, 12 February 2008 (UTC)

[edit] Fair use rationale for Image:5dinar.jpg

Image:5dinar.jpg is being used on this article. I notice the image page specifies that the image is being used under fair use but there is no explanation or rationale as to why its use in this Wikipedia article constitutes fair use. In addition to the boilerplate fair use template, you must also write out on the image description page a specific explanation or rationale for why using this image in each article is consistent with fair use.

BetacommandBot (talk) 04:50, 12 February 2008 (UTC)

[edit] Coin gallery

Don's World Coin Gallery is being removed as spam by 74.228.158.68. Is it really spam? As it is used by all the paged by wiki users and not the web page owner. I don't think it is. Enlil Ninlil (talk) 06:21, 25 March 2008 (UTC)

~~No, it is not spam. Kingturtle (talk) 12:05, 25 March 2008 (UTC)~~

The Coin Gallery seems to have changed drastically since I last looked :/ Kingturtle (talk) 16:48, 25 March 2008 (UTC)