Is the size of my Dinar Note important?

One of the questions I get a lot is this:

“Does it matter what size Dinar notes I have”?

To answer it simply – it’s not the size of your note, it’s how you use it. (I can’t WAIT for this topic to be brought up regarding the Dong! You know… the Vietnamese Dong? It’s not the size of your Dong, its… nevermind.)

True to Dinar Speculation tradition, your buddy Adam Montana is here to help break this topic down into small bite sized chunks.

Dinar Basics: History of the Dinar.

In 1932, the Iraqi Dinar was equal to USD $4.86. From 1932 to 1973, the Iraqi Dinar was valued from $2.80 to $3.39. 1974 to 1985 the Iraqi Dinar floated from $2.80 to $3.39.

In 2001, war disrupted oil production and the value of the Iraqi Dinar fluctuated between $0.33 and $1.32 from 1986 to 2003.

Since the overthrow of Saddam Hussein’s regime in 2003, Iraq has been in turmoil and the value of the Dinar dropped from its previous strong position to a low $0.00027. To date, the Dinar has risen to $0.00067… more than double its value 6 years ago. While that’s impressive on it’s own, that’s nothing compared to what economists project for the future of the Dinar.

Many experts speculate that the Dinar could appreciate from $0.10 to $2.80, and possibly overnight… which is why the majority of us are involved in this topic.

Current Dinar Value

Iraqi Dinar is currently valued at approximately 1170 IQD to 1 USD, meaning for every $1 you get 1,170 Dinars. Since the Dinar is so low in value, it literally takes almost 4,000 Dinar (or “Iraqi Dollars”) to buy a loaf of bread! Can you imagine bringing $4,000 dollars to the store for a loaf of bread? If a loaf of bread in the US is $2.00, and my average shopping trip is $140, that means that my average shopping trip in Iraq would be $163,800! That’s not a huge issue in and of itself, as long as I’m using a Visa card… but what if I’m paying with cash? When is the last time you counted out 164 grand in 20’s?

For this reason, Iraqi Dinar notes come in much larger sizes. It’s a lot easier to get to 160k when you’re counting by 25,000’s. Instead of (8,200) $20 bills, they count out (7) $25,000 notes. Much easier, right?

Now that you understand the basics on the current value and the history of the Dinar’s value, let’s look at what would happen to those large notes if the currency revalued to its former place.

A Dinar Reval Speculation

  • Fact: Iraq one of the largest natural gas reserves in the world – even more than Kuwait.
  • Fact: Iraq holds the world’s fourth largest reserves of crude oil (black gold) – even more than Kuwait.
  • Fact: Iraq is moving quickly towards a stable, peaceful democracy capable of sustaining peace and commerce.

Considering those three facts alone, why is the Dinar not worth more, like the Saudi’s and Kuwaiti’s currency? I speculate that it isn’t worth the same simply because the trigger hasn’t been pulled. The pile of obstacles preventing that trigger from being pulled is getting smaller and smaller, and I strongly believe that one day soon we are all going to wake up to find that it has happened.

We do have a couple of things to worry about, as investors. One possible scenario is this:

The Iraqi Dinar revalues at 1:1, meaning every 25,000 IQD note you hold is now worth $25,000 USD! The Iraqi government will have to cover every note that comes in, which is arguably no problem since they have so much natural riches. However, why would they make it easy for us to sit on millions? They won’t! How could they make it hard for investors to recover their profits?

Simple. Let’s say Iraqi Dinar revalues at 0.10:1, and at the same time Iraq places a mandatory recall on large notes with a 30 day deadline. This means that if you don’t cash your 25,000 Dinar note in IMMEDIATELY, you lose your money. In 30 days, your 25,000 note is worth nothing more than what a collector will pay for it. What will you do then?

Once again, the answer is simple. You will take the 10 cents! You were forced to cash in at a lower rate. Make sense?

The good news is that your investment paid off… the bad news is you missed out on the FUTURE growth of the newly revalued Iraqi Dinar.

So, what do I suggest? Listen, I don’t get paid to pump the dinar. I’m not a dealer; I’m just a guy who loves sharing news and educating people. This is an opportunity that can help many lives, and that’s all the reason I need to be involved. I don’t get paid to open Warka accounts, and I don’t get paid to pump the ISX. I am NOT a pumper! I am simply here to help… so here’s my advice.

There are three ways to invest in the Iraqi Dinar. One is cash dinar, another is open a Warka Account, and the third is investing in the ISX. My advice is to remain diversified in all of your investments. Don’t spend more than you can afford to lose, and don’t let greed blind you. Perhaps we’ll wake up millionaires tomorrow… or maybe we’ll have to wait another day. I’ll be here writing about it, either way.

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97 Responses to “Is the size of my Dinar Note important?”

  1. JohnUK says:

    FACT There are to many dinars in circulation for
    it to be revalued without them knocking off 3 zeros.
    And it will not RV after wednesdays meeting,you
    can believe all the rumors,but that is the true.

  2. QCOURSE says:


  3. Mark says:

    Adam, how will a Warka account help us from being screwed if we have 25,000 Dinar notes?

  4. Christie Allen says:

    Hello Adam,

    So the question I have is, will it be possible to exchange the larger bills for smaller ones to be able to hold on to them until the value of the Dinar rises? I really do appreciate all of your wisdom on this matter. Always look forward to hearing what you have to say.

    Thanks again,

  5. Brent says:

    Thanks for the food for thought Adam. Two questions, is there any way to get cash Dinar posted to a Warka account? Second, is there any valid intel from Iraqi govt that suggests this scenario could take place or just your speculation?

  6. Adam Montana says:

    JohnUK – nice to see we aren’t having a Lopster shortage. 😀
    QCOURSE – If Iraq is trying to minimize their risk, they can simply refuse to ship smaller denoms to the US, forcing you to deposit or travel to Iraq.
    Mark: If your money is in a Warka account, the size of the denomination is irrelevant. You will still be forced to cash in your physical cash, but your Savings account funds will be protected.
    I am personally invested in all three. If I win on one and lose on the other 2… I still win.

  7. Wilmer Poynor says:

    Is there a bank, in the US, where one may change their 25,000 notes to smaller dinar currencies?

  8. Joseph says:

    That is just wrong…

    Pissed off in Alaska

  9. Edgardo says:

    I can agree more, the best way to play at this moment is to have some ca$h (dinars) on hand and the other move it to a Warka Bank saving account. The exchange rate with the bank is 1173iqd per 1 dollar. That means that 1,000,000iqd cost more ore less $852.52 nice rate, so 4,000,000iqd cost you more or less $3,410.08 when exchange with the bank. Imagine that you have 4,000,000 dinars in your IQD account and you want to generate more dinars.

    Let start a CD in dinars are so attractive that I decide to open one 500,000IQD CD for 3 months at 8.5%, nice percent, right in November. Let calculate the interest: 500,000IQD *.085 = 42,500 * 90 days (3 month) = 3,825,000 / 365 days = 10,479.45IQD. That’s means that in February 2010 I received 10,479.45iqd.

    I am going to open another in December and January in the same amount and after the expiration new it again by the same amount. What I create is since February 2010 and every month I received in my account 10,479.45iqd nice chain, right.

    From my original 4,000,000iqd I have plans to invest in this strategy 1,500,000iqd, now I have 2,500,000iqd for more investment. It is very possible to invest at least 1,000,000 in the ISX and if the RI occurs with a change rate of 1.49 then move from your IQD to your USD account 500,000iqd and you have near $745,000 in USD and 1,000,000iqd to generate more and the CD making money every month for you, imagine that 10,479.45iqd interest could be $15,614.38 at $1.49 rate. Change the exchange rate and make your owns conclusions…

  10. Adam Montana says:

    Christie Allen – not at this time.
    Brent – UPS, FED EX, and NO.
    Wilmer Poynor – not at this time.

  11. Adam Montana says:

    Joseph: Was it the Dong comment? I’m sorry. 😀

  12. Chris says:

    My concern is that the value of the US $ is being devalued so quickly. We can’t simply borrow our way out of debt. At least is we owe money, we can pay it off with the IQD revalue at whatever level the value of the $ is. JohnUK mentioned “win” either way. I don’t think any of us will win much in the next few years. I just hope I’m wrong.

  13. Roy says:

    Adam-I have 1 mill in 25,000 dinars. Can I go to chase bank today and trade them in for smaller denoms? If not Chase-Then what bank in USA buys/sells IQD? Thanks-Your Site is helpful-Roy

  14. Mike says:


    If one was to believe the scenario of calling in the 25K dinar notes, it wouldn’t be for 30 days, never in history has currency been called in with only a 30 day window, usually 90 days is minimum.

    What reason would there be to recall only 25K notes, unless like you mention, to start at .10 to flush out investors? I doubt it, more likley, whatever the revalue may be, it will simply allow the phase out of current 10K and 25K notes just as was done with U.S. $500,$1K, $5K, $10K and $100K notes, they are long gone from circulation, but still exist, and this is how I see the 10K and 25K dinar notes, phased out over many years, so I am not worried about having mostly 10K and 25K notes, nor should anyone.

    When and if middle east decides to reprint all currencies in region which has been discussed, then this will be time to phase out the larger notes as needed, so at worst, it will be a couple years, so hang onto those notes until this time, I had targeted small notes for traveling money, but I will hang onto larger ones as I see this as my best strategy.

    Success to all,

  15. mary says:

    i read all that i can Adam but stay quite you learn more that way and so many act like ten years old.thank you Mary

  16. Edgardo says:

    Iniciado Recogido En tránsito Entregado

    Fecha de envío Nov 17, 2009
    Fecha de entrega Nov 23, 2009 3:00 PM
    Destino BAGHDAD IQ
    Prueba de la entrega
    Datos del envío Ayuda
    Tipo de servicio Priority Envelope
    mercancía 0.5 lbs/0.2 kg

    Historial de transporte del envío Ayuda

    Toda la actividad respecto del transporte del envío se muestra en la hora local del lugar
    Fecha/Hora Actividad Ubicación Detalles

    Nov 23, 2009 3:00 PM El envío fue entregado BAGHDAD IQ

    Nov 23, 2009 8:12 AM En el vehículo de FedEx para su entrega BAGHDAD CITY IQ

    Nov 23, 2009 7:00 AM En tránsito BAGHDAD CITY IQ El paquete está disponible para ser revisado por aduana

    Nov 22, 2009 9:09 AM En la estación de FedEx local BAGHDAD CITY IQ

    Nov 21, 2009 9:10 AM En la estación de FedEx local BAGHDAD CITY IQ

    Nov 20, 2009 1:20 AM En tránsito DUBAI AE

    Nov 19, 2009 9:18 PM En tránsito DUBAI AE

    Nov 19, 2009 9:18 PM En la estación de FedEx local DUBAI AE

    Nov 19, 2009 7:17 PM En área de clasificación de paquetes de FedEx DUBAI AE

    Nov 19, 2009 3:44 AM Salió de la estación de FedEx PARIS FR

    Nov 18, 2009 9:46 PM Salió de la estación de FedEx PARIS FR

    Nov 18, 2009 7:39 PM El paquete llegó a las instalaciones de FedEx PARIS FR

    Nov 18, 2009 4:06 AM En tránsito MEMPHIS, TN

    Nov 18, 2009 3:27 AM En tránsito MEMPHIS, TN

    Nov 18, 2009 1:29 AM Salió de la estación de FedEx MEMPHIS, TN

    Nov 17, 2009 6:01 PM Salió de la estación origen de FedEx SAN JUAN, PR

    Nov 17, 2009 12:22 PM El paquete fue recolectado por FedEx SAN JUAN, PR

  17. Duane H says:

    Very Good & interesting piece….. I do want the most or BEST exchange rate when the Dinar is revalued! But this article does have me thinking & a little concerned because all I have is BIG Notes! 25,000 Dinar Notes! Makes me think back when they asked me at Chase Bank back in the day(2007) how do you want your notes in return? (Big or Small denominations). Hopefully, that 30 day scenario doesnt accure!!??!! Forcing you to cash in before it revalues Higher.

  18. Roy says:

    Adam-What is a reputable Dinar dealer website-to convert my 25,000 dinars-or buy more?-Thanks-the Dong references were hilarious!-Roy

  19. Brian says:

    Adam, I appreciate you addressing this issue. Although the scenario you offer is possible, how likely is it that the CBI would employ this kind of a strategy. There are all kinds of possibilities, but how many are reasonable and likely? I can see them taking the larger bills out of circulation as they receive them on currency exchanges and the like, but at a different rate than the smaller bills, or on a deadline? That is a hard pill to swallow. The value of the currency should be the value of the currency, regardless of the denomination. In the U.S. (maybe a bad example, I don’t know) a $100 bill is the worth the same as 100 $1 dollar bills. – and the $5, $10, $20, $50. How can you penalize individuals who just happen to have a stack of $25,000 bills instead of a stack of $10 bills. It should be the same value per dinar, and if the government wants to remove the larger bills from circulation then they should do it over time, as they are able, at the current rate of exchange per dinar. The size of the bills should not matter at all. I am trying to think about this rationally, but I am sitting on a large stack of 25K notes so it is hard not to be emotional about the possibility of getting stiffed on the RV for holding the wrong denomination. I invested in the Dinar and was sent 25K notes. Let say another guy invested the same amount of money but received 1K notes. We knowingly took the same risk. Why should he get a better pay off than me on the RV. Same investment, same risk, should be same pay off. The size of the notes I hold versus the next guy should not matter. If it is legal tender, it should be exchanged at the same rate as all other legal tender. Anybody else have any thoughts?

  20. Aime says:

    Adam, wouldn’t it be possible to get around the big bill issue by using Forex instead of Warka AFTER the RV? If you exchange your dinar once the RV is announced, take the money that you get from the exchange and immediate use it to purchase dinar on Forex, you would then still have the same value in dinar that you just had, and you wouldn’t have to send it to Iraq to put into Warka. You wouldn’t have the big bills any longer, and you could sit on your dinar until you’re ready to sell. In theory this seems like it would work. Am I missing something?

  21. Teri says:

    Help! I have been on dinarvets forum and chat for quite awhile now. Everything was going along smoothly until this AM when I tried to get on the Chat site. I’m getting a 404 – denied access to this forum message. Sorry to use this method, but the only way I could get to anything was through your email to here. Can you please help – and quick?? On the forum and chat site I am netangel. Thank you in advance.

  22. Adam Montana says:

    Aime, the point is if they RV and then force an exchange on big bills, you are going to be forced to take a lower rate whether you use FOREX or any other method to trade. I’m not saying this will happen – just a possibility.
    Duane H – I agree.
    Roy: Although I do not sell Dinars, I recommend Ali at Dinar Trade. Tell him Adam sent you, he’ll take care of you.

  23. JohnUK says:

    I want this to happen as much as you do,but they
    cannot RV with up to 20 trillion dinar still in circulation.
    If you know better then please explain.

  24. Adam Montana says:

    JohnUK, you are entitled to your opinion. Cheers :)

  25. John Neukum says:

    ADAM–A friend wants to buy some Dinar….The company that I bought from in PHX no longer operates….Who would you recommend as a reputable company to buy from?….Thanks for any info…..John

  26. 34dean says:

    I agree 110% with Brian. I doubt there will be any timeframe one will be forced to exchange the larger notes but rather, once exchanged, the CBI will hold and use for interbank transactions and alike. Exactly what the US did with the $1000 notes. I am hopeful that on Wednesday, the IQD will become a internationally tradeable currency and will revalue on it’s own. At that point, it’ll be like the stock market… watch… and sell once the price hits your “sell” price.

  27. Adam Montana says:

    Teri, look on the 404 page – there is a link to the chat. I’m not sure what’s causing the error, but if you click that link it will take you directly there.
    John see my previous comment.

  28. Aime says:

    Adam, I understand that initially with the big bills you would have to take the lower rate, but then once you did that, could you not then turn around and repurchase through Forex the same amount of dinar you just exchanged, sit on it until the rate goes higher (because you no longer have those big bills), and then cash out a second time at the rate you’re comfortable with?

  29. Joop says:

    One thing is not clear to me. From what you write I understand that larger denominations will have no value after a certain period of time. So why would my bank in Brazil accept these denominations when I want to exchange them after a RV? They don’t want to be stuck with worthless paper. Or do I have to travel to Iraq to exchange them?

  30. Kelly says:

    Kuwait did a 45 day mandatory money exchange after the Gulf War. Iraq did a 30 day swap when they printed the new IQD. It is a possibility. It would make good sense for Iraq to handle their buisness that way however it would not help US at all. I am pretty sure they are not to worried about helping us. Iraq has to get the most bang for the buck and that is definatley a way to do it. If they make a mandatory 25K recall and say give you 45 days. In 45 days, they will know exactley where they stand and can make plans from there. That would eliminate all guress work and unknown factors. I cant say I agree with it BUT it does make sense.

  31. Les Scott says:

    Hey Adam
    For some reason I cannot get into the chat room.
    Nothing has changed on my end. Help

  32. Adam Montana says:

    sorry Les, the forum is down at the moment. be back up momentarily

  33. Kelly says:

    I can not get into the Dinar Vets site at all. I am pasting what appears on my screen. If you can help, that would be great.

  34. Adam Montana says:

    Aimee – yes.
    Joop – This is merely speculation, nothing more. I believe we WILL have a window of time to cash in our Dinar, but the rate we get may be less than if we were diversified.

  35. Celia says:


    I’ve checked through your website. Do you have any hints on the best way to travel to Iraq if I would like to deliver my large denomination IQD’s to the Warka account? Thank you.


  36. jmcofield says:

    adam i get this when I go to vetsforum page???help

  37. Les Scott says:

    Thanks for the reply Adam. Information is power. And I really like those chat people.

  38. Marx says:

    Hey Adam, I just read your outline for opening a warka account and after looking at the routing number to the Citibank that’s affiliated with Warka, I realized that it is MY citibank (ie the one I opened my citibank account with.)

    I thought it was pretty cool and figured I’d share. I’m gonna try to head down to the bank sometime this week and see if I can open a Warka account directly from there, and see if I can’t get more details.

  39. Greg Lindstrom says:

    Adam-Lots of questions, everyone wants RV without a hitch. You presented a hitch. Rebaseing was another hitch. Even sending sending 25.000 notes to invest by mail is suspicious. So what happens if you try to open Warka accounts.Is this a safe way to continue to sit on the Dinar investment. Is it done through direct mail. How do you open an account with unrecognized currency? Could you please explane further. Greg

  40. Scott says:


    I would like to thank you for the post…Although I think I’m considered a “nay-sayer” on DinarVets :) I am just trying to get my head around all the possible outcomes, and which of those possible outcomes are more likely to occur. Lately one issue has come to mind that I would like your input about…whether it comes out at $.01, $.10 or $.80 it’s easier to talk about this at the 1:1 RV senario. Let’s use your example of it taking 4,000 IQD to purchase a loaf of bread (that makes it $3.41 USD). If this RV of 1:1 occurs then the Iraqi people would immediately need a Dinar denomination to accomodate this…that loaf of bread would now be worth 3-4 IQD (with inflation maybe a little higher). Currently, the smallest, most widely used, denomination is the 250 IQD note. We all know that smaller notes were printed, but over the last few years the smallest I’ve seen in the hands of the common Iraqi is the 250 IQD. SO, wouldn’t the CBI need to be printing and re-introducing the 1/4, 1/2, 1, 5, & 10 Dinar notes (to include re-introducting the “Fils”)? Although we can guess or assume the CBI is or already has done this and just lying in wait for an RV, nothing happens fast in Iraq…the people as a whole still don’t trust the GOI, MOF or banking system like they should (meaning there are far too few people with bank accounts); and still too few banks for the mass amount of people to start flooding them to get the needed lower denominations if an RV was to occur overnight without these lower denominations already being announced or in circulation. This I would think is a real concern.

    What do you see happening here? How does the Iraqi economy or CBI handle this without inflation increasing so as to match the only denominations in circulation?

  41. jmcofield says:

    Adam if you dont have a passport how long will it take to get a warka acc

  42. JoAnn says:

    Adam first of all thanks for all the upgrades in the chat room. Do you believe that Ali will exchange 25k notes for smaller notes.I will only be doing this the 1 time as I am not a large investor

  43. Larry says:

    I am still confused. If I have 1,000,000 in dianr $25,000 notes and they have a dual RV to get rid of large notes how am I protecting myself by opening a Warka account. If I can figure out someway to get money wired to a Warka account and it RV’s at a .10 are you saying that I wouldn’t have to cash in? I would still have 1,000,000 dinar in my Warka account and could wait for a second RV are for the value to go up before I cashed in and benefit from the increase? Help?

  44. Robyn says:

    What is wrong with Dinarvets? keep getting error message see below…………

    You don’t have permission to access /forums/showthread.php on this server.

  45. Adam Montana says:

    Celia: I know you can mail your Dinar to Warka. Be careful to make the package appear to be a standard package of papers, and I would contact Mr I prior to sending them.
    Everyone: The easiest way to get money into your Warka account is to do a wire transfer, as decribed on the article I wrote for opening an account.
    Greg: See above.
    Scott: Nice post! To answer your main question, I’ve heard rumor that the smaller denoms are already printed. You are correct, nothing happens fast… so far it’s taken years. I wouldn’t be surprised to learn that CBI is already sitting on huge piles of smaller bills.
    To follow up on that last statement, I would be willing to bet that Iraq will treat the large bills much like the US did – once you let go of a 25k and cash it in for a smaller denomination, you’ll never see it again.

  46. james neff says:

    i just joined the group,glad to be here,enjoy reading the blog,adam my question is this i just started buying dinars off ebay,do i have to have a receipt from each ebay seller or any place i buy dinars so if and when i get to cash them in will the banks need receips,please let me know thanks..james neff

  47. Tyates says:

    I do not have a passport. Can you still open the ISX without one?

    Or can you open up any account without the passport?

    Thank you

  48. james neff says:

    all so adam since i am new at buying dinars,?what denomination should i start off buying,since all the talk about the 25,000 notes,please let me know ..thanks again..james neff

  49. James O'Connor says:

    I read the article about opening a Warka account. What I don’t understand is how do I wire my Dinar to the account and do I have to use USD to open the account?

  50. dean says:

    Adam, seems true that the CBI would make a window for speculators to send back there 25k notes with a small RV. After that basically destroy them and lop 3 zero’s off the dinar. While IRAQ may not be there yet! No economically advanced country uses notes for everyday purchases larger than 100.00. Most just 50.00

  51. Scott says:

    Adam, Thanks for the reply…much appreciated!

  52. Norm says:


    How long does it take to set up a Warka account? If it revalues, will you have time to open an account deposit your big bills int he 30 day window?

  53. whiskey bob says:

    Nov 22, 2009 (Al-Bawaba via COMTEX) — MEDIA INVITATION: Thomson Reuters and Trade Bank of Iraq press briefing and photocall Subject: Iraq and the international financial community Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, cordially invites you to attend a Press briefing and photocall for the announcement of a significant new development regarding the Trade Bank of Iraq and the international financial community.

    Present at the briefing will be Niall Fitzgerald KBE, the Deputy Chairman of Thomson Reuters, Basil Moftah, Managing Director Middle East and Africa, of Thomson Reuters and Hussein Al-Uzri, the Chairman of the Trade Bank of Iraq.

    Event information:Time: Wednesday 25th November 2009 at 11.30 a.m. Place: Congress Room 2, 4th Floor, Emirates Towers Hotel, Dubai. We look forward to seeing you there.

    For more information, please call: Nathalie ViseleDirectorShamal Marketing CommunicationsPO Box 502701Office 106Al Sufouh TowerDubai Media CityDubai, United Arab EmiratesOffice: +971 4 3652711Direct : +971 4 3652712Mobile : +971 50 4576525Fax:+971 4 4278703E-mail: nathalie@smc-pr.comWeb site: 2009 Al Bawaba (

  54. WDMCB says:

    Adam: Print the instructions/procedures for opening a WARKA account again! And, Thank you. It does seem that you are trying to lead the horse to water and you are quite aware that you can’t make anybody drink. Just continue to put it out there. Those who can, will, those who can’t, are right! What?

  55. John says:


    You said that iraq may make you cash in at a lower rate if you have 25k bills, so if so if you deposit it into a Warka account as iraq currency at the lower rate will you be able to wait until it goes up higher in a rate can you then withdraw it and get more money or do you need to put it into ISX or forex for it to go up.

    please let me know at my e-mail


  56. TIM B says:


  57. Trent says:

    A question comes to mind about the Warka Bank in Iraq. Do I really wnat to send my Dinar to the other side of the world were I’ve never been, to a place were I know no one? Can I trust these people I’ve never met? Maybe some of the readers here have actually been there, not me.
    What is to keep a bank employee from confiscating my dinar claiming that it is counterfeit and puting it in his own pocket? What is your or my recourse if this happens? I’ve been following this blog for over two months now but in reality I don’t know anyone here, or there. Respectfully, who do I trust?

  58. Jason says:

    The scenario presented would make allot of sense. It sounds a bit unfortunate, but you still win I suppose. I have about 200,000,000 dinar right now, but only a portion of it is in the larger bills. I suppose i would have to cash in that portion and then hopefully sit on the rest and let it go up. (fingers crossed)

    Thanks Adam..u da man!

  59. Donna Vaughn says:

    Everyday you keep hearing all these rumors that the dinar is going to revalue in 2 days then 3 days. I wonder does anyone really know. I enjoy reading your messages.

  60. Derek says:

    I am amazed and bewildered at the same time. I feel I need to get my eight ball out …and check it regularly. Living like a turtle is not a bad thing…but, and this is pure speculation and a genuine question….if large bills are the issue…why aren’t we jusat dealing in smaller bils as an immediate fix beyond diversification.

    Is that too simple a plan?

  61. jmcofield says:

    Adam there was a contact you sent out to a james from iqdme do you know this person and will i be able to do iraq stock with him send me an email when you get time thanks for all you do

  62. tyates56 says:

    Where’s the answers?

  63. admin says:

    jmcofield – James will be handling my ISX operations shortly, I’ve seen what he has in the works. If you’re not on his list, go here:
    Trent – this is true, which is why I do not suggest using FEDEX to send your DINAR to Iraq. Your safest bet is to use a wire transfer and then convert your USD to IQD in your new Warka account.

  64. Slick says:

    I got an email last night announcing a press briefing from Thomson Reuters and Trade Bank of Iraq to be made on Wednesday 11-25-09 at 11:30 a.m. regarding a “significant new development”. Just wondered if you have heard about this announcement.

  65. evelyn says:

    Hi Adam, I’m new to Dinar investing. After this article, I am interested in opening an account in the Warka Bank. Interest rates on Dinars are up to 10%. Would it be safe to invest in a one year CD @ 10%, let the RV settle out (if it does in the next year) then convert it after all the mad rush and confusion. Do you see any problems with this idea?
    Also, can you make suggestions on how to deposit dinars into this account which I presently hold? Do they have a bank branch in the US? Or is there a protocol to certify cash dinars when you send it from the US? Thanks, Evelyn

    • admin says:

      Evelyn, I think your CD idea is sound. They *could* convert the value to be par with what you invested, but that’s part of the game. I think you are on the right track. There is no bank in the US to deposit, you must wire to Warka from your bank.

  66. marcus5 says:

    if it does rv/ will it be a bank in the US that i can changed for USDOLLARS.

  67. Greg Lindstrom says:

    To open your USD and IQD savings account we require a colored copy of your id containing your picture, signature and address sending it by e-mail to our customer accounts department
    Once your account has been established my department will send by email your USD and IQD account number including the wire transfer instructions.
    Warka Account Number at Citibank: 36908969

  68. jmcofield says:

    adam i have joined the isxme anthanks for the good infowe keep getting from each of you .will we be able to invest through james in isx or still need a warka acc.james has not gave much info yet

  69. Jason says:

    Hi, everyone
    There is a simple solution,
    You can exchange your larger denominations with a
    Dinar Dealer with a small fee, You do not need to open any bank account across the globe,
    IF you have a Dealer you are confident in then use them, if not… Do your research before mailing your Dinar off.

  70. George says:

    I purchased $5000.00 us worth of Iraqi dinar when I was in Iraq in 2004. It is large denominations. What should I do with it?

  71. james neff says:

    happy hollidays!!!
    peace and rv to all of us !!!

  72. Jason says:

    @Adam, I hope my post was not out of line
    It seems to be awaiting Moderation.
    Just so you know this was a suggestion from my Dealer and not solution for everyone of course.

    Thank you

  73. scott says:

    I still don’t understand the difference between a person cashing in one $25,000 IQD note or five $5,000 IQD notes. Either way $25,000 has to be covered.

  74. Brian says:

    breaking news @ – Vietnam just devalued the Dong to protect their reserves.

    also on WSJ – Wall Steeet Journal online:

    just thought I would post because we’ve had recent comments about the Dong.

  75. Atta Khalil says:

    The possible scenario will be:

    1. Iraq will introduce smaller denoms and announce a timeframe to exchange the bigger denoms against smaller ones like 25 Dinar to 25000 Dinar.
    2. Upon completion of the exchange period, a revaluation will be done on a percentagewise. May be 10, 15 or 20%.
    There is no point in dreaming for an illogic figure of RV. It is simply not possible.

  76. MoneyChanger says:

    All this dialogue relative to Dinar denominations is not supported by facts. As an example, does anyone really believe that the US and China hold anything other than the largest denominations? Of course not. Does anyone believe either of these countries will take less than the prevailing exchange rates over time? No . The real reality check is for everyone to realize that a RV is not necessary to establish a basis for currency exchange. It is almost always a simple supply/demand equation.

  77. johnny martin says:

    Ok, so I am confused. I bought 3,000,000 IQD back in 2005 and want to protect my investment. How do you suggest I diversify.

  78. Jimmy says:

    If for some reason you have only a 30 – 45 day time frame to turn in your dinars, could you sell them on ebay during that time to someone who is able to cash them in Iraq?
    You might not get the full value, but at least you would get something.

    Good Luck.

  79. Jo Ellen says:

    Adam I agree that many of us can sometimes become confused with the mixed information we receive and the resulting myriad of interpratations that are then perpetrated about different aspects of the Iraqi Dinar investment.

    The great news about the TBI joining Thompson Reuters is another indication of the continued economic and physical stability that is increasing in Iraq. While we wait and watch our investments in Iraq, we gladly watch the country’s positive progression.

    The two go hand in hand. What a great journey…

    • Adam Montana says:

      Jo Ellen – well said!
      Jimmy – join the newsletter, there will be better options than ebay.
      Johnny Martin – take a look at the right column, look for my articles on how to open a Warka account and invest in the ISX
      Happy Thanksgiving everyone!

  80. Steve says:

    Some people seem to go out of their way to make life as diffecult as possible, to open an account with Warks is one Email
    Print of a copy of your passport or Drivers lisence, open to where it shows your picture with your address and your signature
    Print off a copy
    Sign and date it
    Scan it in as an attachment to a Email to
    Your Email, Dear Sir, I would like to open an account with Warka bank, please find the info you require on the attachment to this Email
    Thats all you need to do, you should get your account number and the info on funding your account in a few days
    Once you have the account number there is no rush to fund it as it is good for six months, if not funded by then it is binned, so you just send the first Emaail again to get a new number
    Unless you are going into the ISX then you will want to fund it ASAP

    And as for there being small denomination Iraqi dinars all ready in Iraq, LMAO do you think they can keep that quiet, it would have to go throught the Iraq government for one
    They will have to make thier minds up as to what each note will look like
    Then orders and funds to get it done
    Any amount of people will know all about them before they were printed by the De La Rue printing comp who’s HQ is in the UK
    It cost £150,000,000 to print the new Iraqi dinar and another £50,000,000 to do the exchange for them

    We all know the big denominations will be the first one’s taken out of use, so if you are only holding the big notes thats the end of the dinar ride for you and at a low exchange rate for your big notes, you will still make a load of money from them, but then the people with some of the smaller denominations will be getting a lot more per dinar than you got from the big notes as they will be in use a lot longer
    You may be able to get a dinar account in your home town bank when it is on the forex, it will cost you naff all to ask at your bank

    No one knows when the dinar will RV its just attention seeking wantabies, all a load of BS

    When you can see it on the CBI site then its done untill then dont believe anything you read from these wally brain numptys as they know naff all

    For the ISX, comps that have to be good are the ones that are part state owened, they are on this site,

    Have a read on these sites lots of up to date info

    I have cash dinar/Warka account/Shares in ISX

    On the ISX there is a Chemical comp with shares at 60 each, this is a very small comp so I have a load in the Chemical and plastics comp as their shares are low and I think they will take over the small one sometime

    I have shares in many of the Irai banks as I also think some of the smaller ones will join together and any one with shares should get a load of free ones if it happens, I cannot see any reason to sell any shares just yet, more like keep buying into as many comps as you can, some may go tits up but the others will be OK, this and the above is just the way I see things happening from the info I have read so far, we are in at the ground floor with the ISX, we will make it large in time

  81. Tracey says:

    So is thee a way to exchange large demonination notes for smaller ones? If so what is it?

  82. Brett says:

    Adam, i read on a site that you could open a warka account at citi bank is that true?

  83. Donna says:

    So…I’m a total novice…I don’t know as much as you guys & I need a little help.

    1. I understand that the Warka accounts are not insured…so even if we open an account – there’s no guarantees as to what will happen with our money

    2. Chase, Bank of America, Wells Fargo…no one in Houston, TX will exchange the Iraqi Dinar

    3. I have been told by a foreign exchange company that even if the dinar revalues – the old currency will only be worth the 1153…only the NEW currency will be worth $2.47 or whatever the RV rate is. He said companies don’t want to deal with the dinar because it’s revalued twice and it’s still considered to be unstable. Companies won’t touch the dinar until it shows some stability in the marketplace.

    I have no clue what to think here – I don’t think we are all going to be living it up after the RV…

    Any wisdom here? My hopes have been shot down a bit.

  84. Lance says:

    Hi Adam. First, thanks for all the hard work. Second, a two fold ?: Is it possible for the IQD to RV while under UN Chapter VII sanctions? This subject of concern has seem to have fallen by the way side… And what part does Kuwait play, if any, in both the Chapter VII (release of sanctions or not) and the Revaluation of the IQD?
    Thanks in advance

  85. BILL KIRKDEY says:

    bill kirksey

  86. Ben says:

    So why wouldn’t the government do what Venezuela did and just change the currency? What do they stand to gain by revaluing my 25,000 IQD ($50) into $50,000? Not trying to sound cynical, I just cant figure it out.

  87. dooniew35 says:

    you make more sense than any other person i’ve heard thus far…..please keep us posted as my job does not allow me to much time researching the web for answers.

  88. Matthew says:

    You people are killig yourself!!! Live, work, love, and go on with your lives. I hold 1,500,000.00 Dinar since 2005 and havent’t checked or freaked out or rumor mongered. If it Rv’s it will RV if it doesn’t it doesn’t. All this talk about….How do I get a different account to make sure my Dinar is safe??? Why won’ they cash larger bills??? This thing isn’t even on FOREX yet and everyone is worried about how they will be getting screwed if it does happen. Save your self the agony people put it away, buy a little more if you want, or sell it now, but reading these blogs is like listening to my father talk about if his numbers came up in the lottery and how much tax he would have to pay. Let’s all hope for the RV but don’t let this control your lives. My first and last response. Good Luck

  89. Carla says:

    Mathew so right so right!!!

  90. Canron says:

    I agree with Matthew. You can not let the possibility of RV rule your life. If it happens, it happens. I do however like to check in periodically to this and other sites to see what the latest info is. It’s like what I teach my 5th graders, my job is to teach you where to find the information and the ways to use it. It is up to you get all the possible information, both sides, and figure out what you believe. That is why I love this site. It gives me additional information that I can use along with my own research so I can make up my own mind. I can tell you I am not losing sleep over how and when. I agree with Aime. Those of us with larger bills don’t have to worry. If and when the time comes, exchange those in for US and re-buy at the new rate on the FOREX. At this point it will be traded on the FOREX. Or maybe, at that point, you can get a Warka account with the money traded in. I don’t see a lose in this scenario accept for a few trading fees.


  92. harry says:

    Hello Adam and everyone here. I just heard that some people buy vietnam dong and wish there will be RV. But, I am still very confused and don’t understand how come there will be RV in Vietnam Dong?anyone here know the answer….. does everyone think that vietnam has abundant natural resources , like Iraq or Saudi Arabia?anyone has opinion about this….It is true that Iraq has abundant natural resources: Oil and Gas that can pay off their debts and make iraqi people more prosperous one day. But, look Vietnam is different from Iraq or Saudi Arabia , isn’t it. Therefore I am very curious based on what conditions there will be RV on Vietnam Dong one day?any suggestion will be appreciated.

  93. Deli says:

    I don`t see a devaluing happening,I think that the market will open low,say 0.01 or 0.02 Even at that low rate SOME people will cash in at least some of their dinar simply because times are tough and people need to survive.As the rate slowly climbs MORE will cash in.Those that hold onto what they have will benefit the most.I worry MORE that Iraq will revamp their money making them billions and all of us losers!

  94. DJ says:

    Thank you Adam,my question that has come from our group here is as follows they want to know if they should hold back on some of the notes and turn in at a latter time thinking that the IQD should RV again in say 3 weeks or 3 moths? whatever the case… would you have any wisdom on what or what not to do, thank you again for all your help DJ.

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