What denomination of dinar should i buy

When it comes to the Iraqi dinar, caveat emptor or buyer beware should be the watchword. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data. We and our partners process data to: Actively scan device characteristics for identification.

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Please be safe. We receive many questions from clients about the condition and denomination of the bank notes we buy and sell, so in this edition of Money Talks, we'd like to take a moment to address some of the most common questions we receive.

Many of our questions come from consumers who want to make sure they're getting the best exchange rate for the notes they purchase or sell; we'd like to provide some clear information on the visual references we use to categorize a note as either circulated or uncirculated, and the effect if any condition may have on the value of an individual banknote.

While there are certain quality differences in the presentation of uncirculated notes versus circulated, it is important to understand: there is no change in the intrinsic value of a note based on its circulation status. An uncirculated note offers the same spending power as a note already in circulation. You should know that buying circulated notes from SafeDinar.

Circulated notes may have minimal creasing or wear due to normal use this could include writing, folds, worn edges or other minor imperfections , however we take pride in buying and selling quality currency without rips, tears, or other damage that would render the note unusable. There are many reasons why someone might choose uncirculated notes, though not for reasons of intrinsic value.

In some cases, a client may care about the visual presentation of the note, for example when the money will be given as a gift. Although prices for dinars vary markedly from auction to auction, one constant is that collectors are willing to pay substantially more than market value. On the black market, he estimated that dinars would be worth around 7 cents. Dinar values also bear little correlation to published exchange rates. Lindgren says these posted rates are meaningless, since major exchanges halted trading in dinars months ago.

The U. Treasury lists the dinar as worth nothing. While low-denomination Saddam notes have some souvenir value, prices are far higher for older Iraqi currency, said Audrius Tomonis, a currency collector who runs the website Banknotes. Still, it's hard to get away from Saddam currency, largely because there's so much of it. On the Iraq section of his website, Tomonis has nine samples of currency with Saddam pictures, and only four without them.