Dinar Shortages Leave Many Sellers Without Stock
For the past few weeks the Dinar supply has made acquiring Iraqi Dinar on the wholesale markets tougher and tougher. In December and January dealers seemed to have a supply of Dinar, though many were limited to only circulated Dinar.
We've been hearing from our larger brokers and wholesalers that Dinar is getting tougher and tougher to come by, especially Uncirculated Dinar.
The past couple weeks however things have gotten even tighter. Most of our wholesale suppliers lately are completely out of Dinar while others are only able to give us a limited amount at a time, oftentimes not in the condition or specific denomination we would like to order.
You may have noticed that many other Dinar sellers are completely out of stock or are currently backordered on Iraqi Dinar in some or all denominations.
At this point in time we are fairly well stocked and should be for the next couple weeks. We did recently have to hike our prices a bit. Traditionally we have always sold a full Million Dinar at $969, however due to recent shortages and an increase in pricing on the wholesale market we've had to raise our price on a full million to $1075.
We are still competitively priced. We are one of the few sellers who are able to accept credit and debit card payments which for our customers is both cheaper and more convenient, however it costs us about 3 times the standard rates of for credit card processing so we absorb most of those costs on our customers behalf.
If you're ever looking for deals feel free to call us at 1-800-884-1288. If you make payment for your order by cashiers check or bank wire we can offer discounts as it saves us a significant amount by us not having to absorb the merchant processing costs and we are happy to pass those savings along to you.
Thanks for your continued business and support and we'll keep you updated on the Dinar supply situation currently going on.
We're often asked what is the best Iraqi Dinar note you to buy?
The answer to that is there is no best note to buy. Some people like the 25,000 notes because they were up until recently the largest and because they were the largest and thus easier to store as there is less notes.
Other people prefer the smaller 5,000 or 10,000 denomination notes, while some buyers especially like the very small 250 and 500 Dinar notes.
Over the years different notes have become the "in" notes to have. Currently the 50,000 note is gaining in popularity as it's both the newest IQD note and the largest. They are however in short supply and few dealers have them in stock and they typically go for a pretty large premium in price because of the scarcity and high demand for them.
If you're wondering which Iraqi Dinar note to buy the majority of our customers go for whatever is going to get them the most bang for their buck at any given time. Typically that's the 25,000 notes and typically circulated if we have it in stock as we don't always carry circulated.
Feel free to call us at 1-800-884-1288 to check for special offers and sales.
Does Wells Fargo Sell The Iraqi Dinar?
We get a lot of calls from customers inquiring as to whether Wells Fargo sells the Iraqi Dinar. Currently very few banks buy or sell Iraqi Dinar. To our knowledge none of the major national chain banks sell the Iraqi Dinar. You may be able to find a smaller community bank, credit union, or currency exchange near you who buys and/or sells Iraqi Dinar.
A few years back most of the major banks were selling Iraqi Dinar. Fifth Third Bank, Wells Fargo, Chase, all sold the Iraqi Dinar. Several years ago most of them stopped selling the Iraqi Dinar.
Many banks are getting away from selling foreign currencies period, even the more common ones. In the past banks would provide foreign currency as a courtesy to their customers traveling, however that is not the banks specialy, it's costly for them to order and get special shipments, and honestly most tellers aren't that knolwedgeable about foreign currencies as they rarely deal with them. Many banks have begun sending their customers to local currency exchanges instead.
This is especially the case with the Iraqi Dinar. Currently nobody for the most part is traveling to Iraq for vacation, business or spring break so it's not something they really need to do. Also because many Dinar buyers purchase on a regular basis it was becomming a hassle for them to place small weekly orders for the same customers who clearly are not traveling to Iraq but just collecting the currency.
So, the moral of the story is this. If you're looking to buy or sell Iraqi Dinar, your best bet is to check your bank, but more than likely you'll need to deal with a currency broker or dealer.
As far as Wells Fargo buying and/or selling Iraqi Dinar. Many people claim they do, however to our knowledge they are not, and bankers have told us they have no plans to in the future.
If you're looking to buy or sell Iraqi Dinar you can always contact us.
Which Iraqi Dinar Note Should I Purchase?
We get a lot of calls from customers asking what the best denomination Iraqi Dinar note to purchase is. There isn't necessarily a "best note" to purchase, that's really up to personal preference.
Some customers who hold a lot of Iraqi Dinar prefer the large notes as they keep them in a safe or safety deposit box and the larger the note the less space they take up. Other customers like to purchase smaller notes because it allows them to pass notes out to friends and family and it doesn't break the bank doing so with smaller denominations.
For others the best note is whichever gets them the best bang for their buck. Typically the larger the note the less expensive it is. Traditionally the smaller notes typically sell for a premium price over the larger notes, but that is not always the case. Sometimes if we have a large amount in 5,000 or 10,000 denomination notes in stock we will offer those at a discount.
As of late, we have also been fielding a lot of calls stating that the 25,000 notes were overproduced and now many people are wanting the 50,000 denomination notes. We do have the 50,000 notes back in stock so feel free to check them out if that is what you would like to purchase.
At the end of the day however, there isn't necessarily a "best note" for you to purchase. It's either personal preference or whatever is the best deal at that given time. Typically circulated Dinar is going to be the best bang for your buck, however we don't always have circulated Dinar in stock so in that case the 25,000 note is typically the next best bargain.
If you have any questions or need assistance placing an order feel free to call us at 1-800-884-1288.
Looking For A Bank That Buys or Sells Iraqi Dinar?
Whether your looking to buy or sell Iraqi Dinar the first place most consumers turn is to a local bank. Currently however few if any banks are dealing with the Iraqi Dinar.
It seems some states have more banks dealing with the IQD. Those states seem to be Texas, Florida, and California. If you're looking to buy or sell Iraqi Dinar and are trying to locate a bank call the bank you bank with and ask them. You may want to call Citi Bank as well as many people have been reporting that Citi bank recently has resumed buying and selling Iraqi Dinar.
While I can't comment on their selling prices as we're not sure what they are, on the buying side banks are typically considerably lower than most currency brokers or dealers are buying at.
If your local bank doesn't sell Dinar you may want to check with some local smaller community banks and/or credit unions as they seem to typically be the banks who are dealing with the Dinar and other exotic foreign currencies.
If your unable to find a local bank who buys or sells Dinar your next option is to contact a currency broker or dealer like us or others. If you're looking to sell your Iraqi Dinar, we have a page on our site where you can fill out a form and get a free quote within 24 hours. Alternatively you can also call us at 1-800-884-1288.
If you're looking to buy Iraqi Dinar, or other currencies, you can view our Dinar and other product selections like the Zimbabwe Dollar, Vietnam Dong, Indonesian Rupiah, and others by viewing our store.
Hope that helps you on your question to either buy or sell Iraqi Dinar and/or other currencies.
Iraqi Dinar 50 Note RECALL
Though the details are still somewhat cloudy, word on the street is that the Iraqi Dinar 50 denomination notes are being recalled. Word is still out on whether these notes will be zeroed out and become completely worthless; or if existing 50 notes will be honored; though they will cease in printing new notes. Regardless, many holders of 50 notes are interested in swapping out their 50 denomination notes for larger denomination notes.
Though many of our customers we've spoken with have made the decision to keep their 50 notes for their potential historical or collectible significance, others would rather swap them out for larger denomination Iraqi Dinar notes.
We have made the decision to rollout a swap out program, for not only our existing customers, but also the general public. We will swap out up to a "brick" of 50 notes for buyers free of charge. A brick is 10 bundles, and a bundle is 100 notes so we are willing to swap out up to (1000) 50 denomination Iraqi Dinar notes or 50,000 Dinar FREE of charge for an equal amount of Dinar in larger denomination notes. This offer is available to you whether you bought yours from us or elsewhere. Please read further below for specifics and additional details. Deadline for swapping out notes is April 1, 2015.
1. Send us an e-mail requesting a swap out of your 50 notes for larger denominations. Please include your name, address, e-mail, phone number, and amount of 50 notes you want to swap out. Send e-mail to firstname.lastname@example.org. We will respond with our address and further instructions on shipping the notes into us. We recommend shipping in via a method that allows for delivery confirmation or tracking. To help expedite the process please e-mail in tracking once your notes are shipped. Please allow 14 days for processing, though typically we will get these processed much quicker than that.
2. We will exchange or swap out your 50 notes for an equal amount of Dinar in larger denomination notes 250, 500, 1000, 5000, 10000, and 25,000 notes. If you send in 250 in 50 notes we will give you a 250 note. If you send in (10) 50 notes we will give you a 500 note. We will round up to the largest note. Example, if you send in (4) 50 notes or a total of 200 in Iraqi Dinar we will swap out those 50 notes for a 250 note. If you send in 950 in 50 notes we will swap out for a 1,000 note. PLEASE NO CUSTOM REQUESTS FOR NOTE SELECTIONS. What you will receive will depend on how much you have as well as our stock and availability of notes to swap out.
3. Your package must be received by us by April 1, 2015. We will ship back any packages which arrive after this deadline.
1. Limit one swapout per customer and per household.
2. 50 notes sent in must be in good condition.
3. We retain the right to refuse any swapout due to poor condition notes or abuse of the program.
4. We will not do swapouts for residents of Illinois, Washington, or Arkansas.
5. Notes MUST BE received by April 1, 2015. We will return any packages which arrive after that date.
Have Questions? Feel Free To Ask!!!
Though Dinar is selling faster than ever before, we realize there's also individuals out there looking to sell-off their Dinar. We offer this service as well, in addition to selling Iraqi Dinar, we also buy Iraqi Dinar back from the public.
Unlike many other sellers/dealers who either don't buy in, or will only buy in from their own customers, we'll buy in regardless of where you purchased your Dinar, as long as the notes are authentic we're a buyer.
Unlike other dealer we also offer no hassle pricing. Where as some dealer you send off your Dinar not knowing how much money you will get, we offer a rock solid price that will not change. Many dealers have long checklists and requirements. Though you may have been quoted say $800 per million, when all is said and done you may only wind up with $650 or there abouts. With us, assuming you give us an accurate count and description of the condition of the Dinar you send in you will get the quoted price and not a penny less.
We get our buy-ins processed quick because we know you need that cash in your pocket quick. Buyins are typically processed same day or within 24 hours, though on rare occasions can take up to 72 hours to be processed depending upon volume.
Interested in selling us your Dinar? Just contact us either through the contact us form on our website, by e-mailing us at email@example.com, or by calling us directly at 1-800-884-1288. We look forward to hearing from you. Please pass long our name and number to your friends if you are happy with our service, which you undoubtably will be as we work heavily off referals.
You may have heard about the newly issued Iraqi Dinar coins. They come in denominations of 25, 50, and 100. Many buyers have been seeking out these coins, we now have them in stock!!!
You can view them at the Central Bank of Iraq website at cbi.iq. On the Central Bank of Iraq website they show the 25 and 100 denomination coins but state they are not yet in circulation. They fail to display a photo of the 50 coin. We've noticed the Central Bank of Iraq's US website in English is a bit of of date when it comes to information as well as showing new notes. If you have a browser extension on your web browser which will translate the arabic site there is much more information and you can view a more up to date list of new notes and coins.
These coins are however in circulation in three denominations as stated above, 25, 50, and 100 denomination coins. If you're interested in purchasing them we sell them and you can purchase them by clicking HERE.