Exchange or Sell Your Iraqi Dinar with Worldwide Collectibles LLC BuyIQD.Com August 04 2016
Wondering Where To Sell Iraqi Dinar?
When you decide to sell or exchage your Iraqi Dinar, you want to make sure you are receiving the best exchange rate for your notes. The more informed you are when you decide to sell your Dinar the more successful you will be in the process and the more likely you will be to get the most for your money, while also dealing with a reputable and trustworthy company.
In this post we'll examine the best ways to sell or exchange your Iraqi Dinar or your IQD.
Before Exchange Your Dinar You Should...
- Gather together all your Dinar
- Count you Dinar and figure out the quantity
- If you have both circulated and uncirculated Dinar seperate the two types.
This is even more important if you've purchased in different batches of banknotes or if you've purchased from different dealers.
Most Dinar collectors keep their Iraqi Dinar sorted according to the denomination of the notes. These denominations are typically IQD 25,000, 10,000 and 5,000 notes. These are probably the most commonly held denominations, however the Central Bank of Iraq (CBI) also prints 1,000 notes, 500 notes, 250 notes, and in the past 50 notes. For years many buyers were loading up on smaller denominations, although today it seems the 25,000 notes is the most common and most popular. If you're interested in reading more about small notes versus large notes here is an article on the subject.
If you'd like to check your notes validity or verify your notes are authentic do a Google search for "Iraqi Dinar Security Features" and you'll find an assortment of charts or diagrams which show you how to check the authenticity of your Iraqi Dinar.
Banknotes are used for nearly every purchase in Iraq. The Central Bank of Iraq (CBI), has minted paper notes as well as coins, although coins are rarely used and very few Dinar collectors have coins.
In Iraq, as well as among collectors outside of Iraq, the IQD 25,00 notes seems to be the prefered note of most individuals.
The physical condition of your banknotes is important as well. Typically you will hear people refer to notes as either uncirculated or circulated. Before exchanging your notes you should determine whether they are circulated or uncirculated condition. Uncirculated which is also often referred to as UNC is essentially brand new mint condition notes. Uncirculated notes tend to go for a premium price both when selling to dealers, as well as on secondary outlets like eBay, DinarVets Buy/ Sell Section, and other secondary markets.
If you want to read more about the difference between circulated and uncirculated Dinar read this article.
Uncirculated banknotes are notes which have never been used in commerce. These notes are crisp and have crisp edges and corners. They are unwrinkled. They have no pen marks or staple holes. This is the typical definition of uncirculated Dinar. Some dealers and sellers however only consider Dinar to be uncirculated if the notes are in sequential order meaning the serial notes go in order. Other dealers or individuals only consider Dinar to be uncirculated if it's in a full bundle ie 100 notes, with the CBI strap, and in perfect condition and sequential order.
Circulated notes on the other hand are notes which have been used in day to day commerce, or in some instances circulated notes are basically uncirculated notes which have been damaged during shipping, they may be in very good condition but they may have been bent or folded during shipping and can no longer be sold as UNC condition.
The condition of circulated notes can range from
- heavily worn
- soiled notes near the end of their working lives.
Some buyers believe uncirculated notes are superior to circulated notes and some dealers have marketed uncirculated notes in such a way to give some added value to UNC notes. The reality however is that both types of notes are accepted at the same value in actual commerce and all are redeemable in Iraqi Banks at the same rate or value as uncirculated notes.
Again however, on the secondary market you oftentimes will be able to get a premium for uncirculated notes.
The best dealers out there offer a fair market price or rate for both circulated and uncirculated Dinar notes.
The best dealers offer a fair market price for both uncirculated and circulated Dinar notes.
Iraqi Dinar (IQD) Rate Of Exchange
Since Saddam Hussein was taken out of power in 2003, the exchange rate for the Iraqi Dinar has been of great interest to observers who are keeping an eye on Iraq's regrowth and Iraq's economy. This is particulary because of Iraq's oil interest.
The Dinar exchange rate, similar to other foreign exchange rates for any other currency, depends upon the nations economy and their assets. The strong the economy grows ultimately the stronger the currency should be.These days people are noticing the success on the ground in Iraq. Though the country is experiencing problems, there is also rapid growth taking place as well. According to many sources Iraq has the world's fourth largest oil reserves. The oil industry is growing and thriving despite the occasional flare up of violence and political conflict.
Exchanging Your Dinar Now
Individual Dinar owners occasionally change their goals or no longer are interested in keeping their Dinar. Many people make the choice to trade their Dinar in either to collect other currencies, or to change their Dinar instead of holding on to it.
If you need money for an unexpected emergency, a medical expense, a job loss, or maybe you just want to take a vacation, you can check our current buy price and decide if you want to sell.
The IQD exchange rate that you will receive will depend on many factors. The dealer you choose to sell to, the condition of the Dinar, the denomination of the Dinar, and the amount of Dinar you hold.
When you work with a leading and trustworthy dealer like Worldwide Collectibles LLC aka BuyIQD.Com, you will receive a competitive price with clear terms, and a professional service. We also have one of, if not the quickest turnaround times in the industry. While we always issue payment within 72 hours, unlike many dealers who take weeks to payout. Typically we are able to get a check out to you the same day we receive your Dinar.
IRAQI DINAR (IQD) VALUE
So what is your Dinar really worth? When your ready to sell Dinar you should check pricing at a few dealers, see who's offering the best price as well as who is offering the best terms.
A registered and bonded company/dealer like Worldwide Collectibles LLC provides a safe and secure place to transact your Dinar selloff.
When you sell Dinar to a leading currency provider and buyer like BuyIQD.Com you can be secure and confident that you will receive a good value and that you will actually be paid out and be paid out in a prompt manner.
HOW OR WHERE TO SELL MY DINAR?
The internet is full of wannabe currency dealers who are several levels or intermediaries away from any direct Dinar sources. They can't deliver competitive pricing as a buyer or a seller. Many of these types of companies are the ones you will see complaints about on Dinar message boards with people reporting it took them over a month to receive payment for their Dinar if they ever even received payment at all.
Instead of dealing with an inexperienced or unprofessional dealer, it's best to speak with a top dealer who can offer the best price and provide the best customer service.
You should only do business with a well established long time company that is a leading provider and a trusted name in the Dinar community, such as Worldwide Collectibles LLC aka BuyIQD.Com.
One of the many perks or advantages of working with a leading dealer is having the confidence and peace of mind that when you package up and ship your currency off, that you will actually be paid and be paid quickly and promptly.
After receiving your banknotes, we verify the amount and condition and then get a check out to you in the mail. We send checks out FREE of charge via USPS Priority Mail which typically takes 2-3 days. If you would like to expedite the process we can also ship via Fedex Overnight for a $25 fee which can be deducted from the balance owed to you.
You can be certain you'll receive the full value you are entitled to unlike some other dealers who will try to widdle you down hundreds of Dollars claiming you don't have receipts, COA's or other paperwork, or claiming your notes are not in good condition.
SHOULD I SELL MY IRAQI DINAR Banknotes?
Before making the decision you should due the proper due diligence to ensure the best outcome. When deciding whether to sell your Dinar consider whether you want to sell all of it, or just a portion. Here's a few things you may want to consider....
- How much cash you need right now?
- Who is the best dealer to sell your currency to?
- Should you sell all or just some of your Dinar?
The value of the IQD does fluctuate over time, the same way that every currency fluctuates over time. If you contact us or any other dealer for a quote, realize that if you sit on the sidelines and wait a few days, a few weeks, or a few months to sell, the buy-in price could change.
You should also keep in mind that when you sell any currency you'll need to account for the difference in margin between buying and selling. When you buy you typically pay a markup and when you sell you will also typically pay a markup or a margin.
In order for dealers to earn enough margin to operate their busines, to pay for their office, bond, employees, etc there is always going to be a "buy" price and a "sell" price. Dealers themselves aren't even able to buy at the offical CBI price. Dealers themselves pay a markup despite the fact that they are buying probably 10x the amount of Dinar as the average consumer. This is what allows currency dealers and brokers to operate and to stay in business.
Currency is like any other product. When you buy a product off the shelf in a store, the price you pay is the retail price and that is always going to be higher than the price at which the merchant would offer to you if you paid wholesale or bought in bulk.
In any event, you will need to make the decision how much your willing to accept for your Dinar after doing the appropriate homework in shopping around dealers, examining what your able to sell your Dinar for versus what you bought it for.
Typically, if you need the money right away it's best to sell your Dinar to a leading dealer like ourselves who will offer you a fair price, a quick turnaround, and a safe experience.
Generally, if you need the money right now it's best to simply sell your Dinar to a leading dealer who will offer a fair price.
Is it time to revalue or re-evaluate my Dinar position?
Most people will periodically take a few minutes to sop and revalue or re-evaluate the items they have accumulated, many of us call this spring cleaning. In any case, this assessment and reevaluation of what they own oftentimes leads them to sell their Dinar, or even other possessions for that matter.
If you need cash, selling your Dinar may be the best way to quickly meet those monetary needs. When selling the most important thing you can do is find a well established dealer that can offer you the best price.