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Ten Questions to Ask Before Buying Iraqi Dinars
This page aims to educate the potential dinar investor. As with any investment, there is risk associated with investing in Iraq Dinars. Although we attempt to provide accurate information, there is no guarantee, explicit or implied.
1. Are they registered?
Trading Iraqi dinars is not always legal. Make sure the source you are buying from is registered with the US Treasury as a money service business. Companies that are registered will direct you on how to verify their registration. This is required to sell dinars legally in the United States.
2. Who are you dealing with?
Do you know who you are dealing with? Learn as much as possible about the people behind the website you are buying from. You have a better idea that the website is an established business if you see a company name, especially one that is legally registered. Look for Inc. or an LLC as indications of a registered entity.
| Our recommendation: DinarProfits.com |
DinarProfits.com, our sponsor, is registered with the US Treasury under their business name - OdioWorks, LLC. DinarProfits.com accepts payments by credit card, COD, check, and wire transfer. They ship via UPS or USPS. DinarProfits.com checks all dinars for authenticity, and guarantees not only that they will arrive, but that they are also authentic and of non-criminal origin. |
3. How long have they been in business?
This is important, as the number of dinar sellers has increased dramatically in recent months. These new websites offering dinars have little or no established history and many are not yet registered as currency exchange businesses. Look for a company that has been in the market at least a year or two.
4. Is there a phone number and address?
Look for a phone number and mailing address. It is important to have a phone number and address in case you ever need to contact them for more information or if you have any questions or concerns about your investment. Also make sure you can talk to a real person rather than just a machine. Do you really want to trust your investment in someone who you have no way of contacting?
5. What methods of payment do they accept?
It is important to find out what methods of payment a company accepts. More options for payment may make you feel more comfortable with the investment. Credit Card payments usually offer the highest protection against fraud. Note that many sellers operate out of the Middle East, and require payment in advance by wire transfer. Be VERY wary of sending an international wire. The chances of recovering the funds if anything goes wrong are slim to none.
6. What is their shipping policy?
Look for a dealer that has an established shipping policy, through a reputable carrier such as UPS. This will decrease the chance of your order being lost or damaged during shipment.
7. Do they check for authenticity?
Ask if the dealer verifies the dinars as legitimate before shipping them. There are 6 security features on the dinars (including a unique serial number), and all 6 should be checked prior to shipping.
8. Is there a Guarantee?
Make sure you know what your options are if the dinars are not legitimate. Look for a seller that guarantees their authenticity.
9. Do they buy back dinars?
Look for a dealer that allows you to sell your dinars back to them. This will enable you to sell your investment incase you want to sell it before the currency is exchanged on the market.
10. Do you feel comfortable with the dealer?
Finally, and most importantly, ask yourself if you feel comfortable with the company you are buying from. Check out the website and ask as many questions as you need to. There are several websites out there that throw a lot of information at you but if you don’t feel comfortable with the dealer than you shouldn’t be buying from them!
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High resolution images (provided by www.DinarProfits.com):
The 25,000 Iraqi Dinar
The 5,000 Iraqi Dinar
25,000 & 5,000 Iraqi Dinar comparison