BuyIQD.Com Blog

List of Banks that Buy and Sell Iraqi Dinar October 13 2017

List of Banks that Buy and Sell Iraqi Dinar

Lately we've been asked by many of our customers if there is a list of banks which buy and sell the Iraqi  Dinar. We've also noticed an increasing number of internet posts asking the same thing.

While years ago many larger national chain banks such as Bank of America, Chase, Wells Fargo, and Fifth Third bank both bought and sold the Iraqi Dinar, these days few banks are dealing with the Dinar. We have confirmed a few Citi Bank branches are dealing with Dinar but they are not as widely available as many of the other banks, however if you have one near you, you may want to give them a call.

Aside from that, despite many people online claiming that Wells Fargo and other banks are buying or selling Dinar, we havn't been able to confirm that as all branches we've checked with have said no.

Why Aren't Banks Buying and Selling Dinar?

Many banks these days are getting away from foreign currency or FX period. Many banks are simply referring customers over to companies like Travelex. By the way, Travelex doesn't deal with the Iraqi Dinar. 

The same way banks are getting rid of their coin counting services, foreign exchange services were a courtesy banks offered to customers for many years, but are getting away from. 

The few remaining banks which do deal with foreign currency often aren't dealing with the Iraqi Dinar as they know nobody is traveling to Iraq for Spring Break. When banks offer foreign currency services they do it as a courtesy or convenience for their customers. They typically don't make much money if at all, and oftentimes it may even cost them money having expensive and unnecessary Brinks deliveries for some guy who wants $100 worth of Iraqi Dinar each week. 

While some banks may still allow you to grab some Euros or Mexican Pesos for your upcomming vacation, most are not going to be too keen on ordering $100 worth of Dinar for you on a weekly basis and therefor most are not offering Iraqi Dinar.

We have spoken to some of our customers who have smaller community banks and credit unions near them willing to buy or sell Dinar but those tend to be few and far between and the majority seem to be in Texas.

If you're looking for banks who will buy your Dinar or sell your Dinar your best bet is to either see if you have a local Citibank Branch or call around to some local credit unions or smaller community banks.

Your other alternative is to buy from or sell to a Dinar or currency dealer such as ourselves or others which you can find online. If you're looking to buy feel free to browse our products. If you're looking to sell feel free to fill out our selloff form. And as always, if you have any questions or need assistance feel free to call us at 1-800-884-1288.


A History of Zimbabwe hyperinflation October 28 2016

A History of Zimbabwe hyperinflation

When Zimbabwe was established as a republic in 1980, its new currency was stronger than the US dollar. Throughout the '80s Zimbabwe enjoyed a fairly healthy economy despite some governmental instability under the leadership of President Robert Mugabe. Economic and political unrest increased in the 1990s and early 2000s as Mugabe implemented a number of questionable land reforms and monetary practices. Corruption was widespread. Wars motivated by greed were fueled by unrestrained printing of money.

The public began to lose faith in the Zimbabwean Dollar, which underwent triple-digit inflation rates every year from 2000-2005. In 2006 the inflation rate was 1,281%, in 2007 it was 66,212% and by July 2008 it hit 231,150,888%. At the peak of Zimbabwe's inflation in November 2008, real prices doubled every 24 hours. A pencil, which might have cost one cent on November 1st, would have cost $10.7 million by November 30th.

This rampant inflation led to a printing of a large number of banknote denominations in an attempt to make transactions practical. In 2006 a new series of banknotes was printed to replace the previous notes which had reached denominations as high as Z$50,000. By 2008 this new series had grown to be so large in size that 10 zeros were slashed off for the next series of notes. By the end of 2008 this new series had grown to denominations reaching 100 Trillion dollars.

A 4th banknote series was attempted at the start of 2009, this time slashing 12 zeros from the previous edition. Shortly thereafter, the currency was officially abandoned.

 


Zimbawbe Dollars Available on Amazon? Should You buy Them? October 27 2016

Can You Buy Zimbabwe Dollars on Amazon?

Many people love shopping on Amazon so it makes sense people often wonder if they can buy Zimbabwe Dollar notes on Amazon?

Amazon kind of spurred the popularity of the 100 Trillion Zimbabwe note and other notes from the AA2008 series. Technically speaking however Amazon never really allowed the sale of Zimbabwe Dollars. Sellers on Amazon would list these in the toy category, clothing category, and other categories which didn't accurately fit the item.

About a year back Amazon started banning sellers of Zimbabwe Dollars and removing all the listings. For a few months you couldn't find any Zimbabwe Dollars on Amazon. 

More recently however sellers have begun popping back up on Amazon selling Zimbabwe Dollars from the 2008 series, also referred to as the AA series. The notes are fairly expensive as Amazon charges a 15% fee for selling which these sellers need to recoup before they see any profit. Currently 100 Trillion notes are going for around $99, which is about 25% higher than other places you can buy them.

Also, because these items are essentially slipped in and not officially allowed or sanctioned by Amazon you may or may not be able to rely on the Amazon system to protect you in the case you get fake notes or damaged notes. Also keep in mind you won't consistantly be dealing with the same seller as sellers come and go as Amazon catches on and bans them.

The last thing you'll want to be aware of is that many of these sellers are based outside of the USA which can mean longer shipping times, is riskier in terms of you getting legitimate authentic notes, and is just overall something you should be aware of.

Here at BuyIQD.Com we accept credit and debit cards as well as Kash and checks as well. If you are interested in placing an order or have any questions feel free to give us a call at 1-800-884-1288. 


Zimbabwe Dollar AA2008 SALE Ends October 1, 2016 September 30 2016

Zimbabwe Dollars AA2008 notes SALE!!!

From now through October 1, 2016, we are offering $5 off any Zimbawbwe Dollar note purchase by using the promo code "ZIM5OFF". 

Zimbabwe Dollar Sale Ends October 1, 2016

Visit our Zimbabwe Dollar Collection Page, select what you want, and enter "ZIM5OFF" during checkout to save $5 on your order.

If you need assistance placing your order feel free to give us a call at 1-800-884-1288. Our hours of operation are Monday through Friday 9AM to 5PM Central time. 


Zimbabwe is about to start using its own version of the U.S. dollar. September 21 2016

Zimbabwe is about to start using its own version of the U.S. dollar.

The country's central bank said Thursday it will start circulating "bond notes" by the end of October. It said it expects $75 million worth of these notes to be in use by the end of the year.

The southern African country has been using a mix of different foreign currencies-- and most importantly U.S. dollars -- since its own currency collapsed in 2009 during a period of hyperinflation.

To ease its cash shortage problem and stop cash from flowing out of the country, the bank announced it would start printing "bond notes" in denominations of $2, $5, $10 and $20.

The country already has "bond" coins that represent U.S. dollar values. For each coin in circulation, there's an equivalent U.S. dollar held in the country's reserves.

"The bond notes will be at par with the U.S. dollar and will be used and treated in the same manner as bond coins," said John Mangudya, the governor of the Reserve Bank of Zimbabwe.

 

The collapse of Zimbabwe's economy has meant people have to buy almost everything from bottled water to toothpicks from abroad, and that means cash is constantly pouring out of the country.

The notes are not even in circulation yet, but they are already proving very unpopular.

Zimbabweans have been demonstrating against their introduction, fearing they might mean a return to the local currency.

The central bank has rejected that idea, saying the current economic conditions mean the country is not yet ready to go back to its own currency. Mangudya also said the notes won't be forced on people who do not like them.


Special Offer Zimbabwe AA2008 Combo Pack June 02 2016

Zimbabwe Dollar Combo Pack SPECIAL

We are for a limited time while supplies lasts offering a great combo pack. You get one of each of the following notes...

 

(1) 50 Billion Zimbabwe Dollar Note

(1) 20 Billion Dollar Note

(1) 5 Billion Dollar Note

(1) 1 Billion Dollar Note

 

These notes are circulated but in great condition. You get a package of each of the following notes for just $19.95. This offer is good while supplies lasts. Strict limit of 5 packs per customer.

 

To order visit our Products page or call us directly at 1-800-884-1288

 

 

 


Special Offer Zimbabwe AA2008 Combo Pack June 02 2016

Zimbabwe Dollar Combo Pack SPECIAL

We are for a limited time while supplies lasts offering a great combo pack. You get one of each of the following notes...

 

(1) 50 Billion Zimbabwe Dollar Note

(1) 20 Billion Dollar Note

(1) 5 Billion Dollar Note

(1) 1 Billion Dollar Note

 

These notes are circulated but in great condition. You get a package of each of the following notes for just $19.95. This offer is good while supplies lasts. Strict limit of 5 packs per customer.

 

To order visit our Products page or call us directly at 1-800-884-1288

 

 

 


Buy 500 Million Zimbabwe Dollar Notes With A Credit Card May 24 2016

500 Million Zimbabwe Dollar Notes

500 Million Zimbabwe Dollar banknotes. Many buyers of Zimbabwe Dollars are having a hard time finding a place to buy the 500 Million notes. These notes are getting scarce and are becomming harder to acquire.

Fortunately for you we now have them in stock. We have a limited amoung, we recently acquired two bundles which is 200 notes of the 500 Million Zimbabwe Dollar notes. Not only that, we accept Credit and Debit Cards as payment.

If your interested in making a purchase simply visit our Products page or call us directly at 1-800-884-1288 and we would be happy to take your order over the phone. Thanks and happy shopping!

 


Why Are 50 Trillion Zimbabwe Dollars Less Expensive Than 100 Trillion? May 21 2016

Why The Price Difference For Zimbabwe Dollars?

Wonder why it's cheaper to buy the same amount of Zimbabwe Dollars in one particular denomination than another? Even if it's the same amount in total?

Reason being is because certain notes are not only tougher to source, but sell for more on the wholesale level. If something is more expensive on the wholesale level, your always going to see the same case on the retail level as well.

At our current pricing a single 100 Trillion Zimbabwe Dollar note sells for $69.95. A buyer could opt instead to buy (2) of the 50 Trillion Zimbabwe Dollar notes for $30 a piece and only be into it for $60. Essentially it's $9.95 cheaper to take the same amount of Zimbabwe Dollars in two 50 Trillion notes as opposed to a single 100 Trillion note.

For a long time most buyers were dead set on getting the 100 Trillion notes. As of late however it seems most buyers are choosing to get the best bang for their buck and buy whatever gets them the most Zim for the least amount of US Dollars.

Currently the 50 Trillion Zimbabwe Dollars are the best buy, however that does occasionally change. At times the best has been 20 Trillions, at other times 10 Trillions. Feel free to browse our store and see what is the best priced at any given time.

In addition to Zimbabwe Dollars we also sell Iraqi Dinar, Vietnam Dong, Indonesian Rupiah, Chinese Yuan, and more!


100 Trillion Dollar Zimbabwe AA2008 Note - A Hot Collectors Item May 03 2016

These 100 Trillion Zimbabwe Dollar banknotes make a great addition to any numismatic or banknote collectors collection. They also make a fun gift item, make your friend a Trillionaire!!!

These bills show the pitfalls of runaway hyperinflation in the Country of Zimbabwe, a country troubled with fiscal problems, and these are among the largest denomination ever in actual use by a country ever, in the history of the world.

These notes are no longer legal tender in Zimbabwe, but were legal tender in 2008. Today Zimbabwe technically speaking has no offical currency but are using upwards of 18 different currencies including the US Dollar, Euro, Pound, Chinese Yuan, and Australian Dollar among others.

Each note we sell is in crisp, new, and uncirculated condition

Get yours today as there are fewer and fewer of these left out there everyday that goes by. It's already getting tough to source them.