Now I am confused!

Should I invest in Iraqi Dinars or Not?

YES, INVEST IN IRAQI DINARS, BUT:

1) Use the money that you will not need for the next 3-4 years.  If you sell your Dinars a few months after purchase,  you will be on the loosing side.

2) Buy your Dinars from a reputable banknote dealer, someone who will keep communicating with you and will keep you informed of the market changes, fluctuations and will assist you to liquidate your investment. There are many websites out there, very fancy, very attractive with all the Java applets, bells and whistles, giving the impression that you are dealing with a corporation! However, there is no phone number, no contact name, you don’t know who you are dealing with, and where you are sending your payment!

3) Be reasonable in your expectations. If your local bank is paying 2% interest on your savings, do not expect the Iraqi Dinar to pay you 2000%!  

4) Be in the market and follow the news.  Many positive events should happen in Iraq for the situation to go back to normal, and the Dinar start appreciating in value. The January 30, 2004 election was just the first step.

5) Find out a local Coin or Paper Money dealer and be in contact with him. Find out about local Currency Shows and attend one, see what the buy/sell rate is for the Iraqi Dinars, you might be able to sell your investment gradually to Banknote dealers and collectors, who generally pay much more for uncirculated banknotes than the investors and banks do. Do not buy circulated currency. Do I need to repeat again --- DO NOT BUY CIRCULATED CURRENCY.

6) Remember that like any other investment you are taking a risk when you buy foreign currency. While unlike some stocks that go down to zero cents! your Iraqi Dinar will never be absolutely worthless, but it may not appreciate in value for quite sometime.

7) As a Banknote Dealer I have shared these info Free of Charge and will not be liable if after a couple of years your Iraqi Dinar investment is worth less than what you have paid for, nor will I ask for a percentage of your profits if your investment hits the $3.25 million jackpot!    

                                                          Good Luck.   July 2004