Want to buy a large amount of iraqi dinar but don’t have the cash right now? Iraqi dinar buy options allow you to pay a small fee now for the right to buy dinar at a later date, it’s like dinar on reserve.
Here is how it works, you pay a fee of $10 which buys you the right to pay $380 for 200,000 dinar within 60 days. The idea is that should the iraqi dinar go up way up in value, you never have to pay more than $380. However, should it go down, you can simply choose not to buy it and let your option expire.
You don’t receive any dinar for the $10, instead, you are given a contract that grants you the option to buy dinars.
This works best for people that feel the pressure to buy now, those that believe the dinar is going to have a major increase in value and want to secure their option without making a big investment.
Take the real life example I just gave you. Right now, the going rate to buy 200,000 dinars is $320 total (even though the exchange rate doesn’t equal this), no extra fees and free shipping, see our Buy Iraqi Dinar page. When you pay that $9, you are really paying $419 (9+30+380) (they don’t tell you about the $30 shipping and handling fees) – that’s about $100 more than what it’s worth!
Worse, the company that sold you the option may claim they buy back dinar, but fail to mention the $150 buy back fee which you don’t discover until it’s too late.
What you really did by paying that $9 was mentally committing yourself to buying dinar at an incredibly inflated price!
You’ll notice on most of these iraqi dinar buyback sites the misleading mention of pre-war values set by Saddam. It’s all designed to turn up the pressure and get money from cash strapped buyers looking to get in on the new currency.
Still think the iraqi dinar call options are a good deal? Then consider this before you buy:
- A reputable source that has a positive history.
- See the options contract BEFORE you buy – if they make an excuse why they can’t show it to you, then find someone else!
- Call options should be at today’s price, not more!
- Check for hidden fees, such as shipping, processing and buy back fees.
- If the Dinar RV does happen, what guarantees do you have that the website will honor your CALL options?
Whatever you decide, take care not to be pressured. If you read through all the comments on this site, you’ll find that plenty of dates set where the dinar was set to revalue; every single one of those dates have come and gone! To top it off, most claimed to be by experts with inside or privileged information.
Take your time and be a wise investor!
Comment to Dit, while most of what you say is true, I have to disagree with an RV not happening. I have been doing a lot of research and their is a lot of political games at play here. It will go through the RV/re-denomination process and, most likely increase it’s worth, that being said, no one really knows how much, although I strongly agree with you, it will not be 3500%.
All of the political indicators and the fact that Iraq will have to RV the dinar value are there, the US in heavily invested although, not in terms of equal dollar to dollar value but, I remember when Pres Bush said Iraq would pay for the war, and I can’t help but see the facts are just that, the US knows the dinar will re-evaluate, and have known for years.
Now, my most curious thoughts are, Will Obama try to use some pull in getting this done during his re-election year? Understanding he does not have a say in it, still it begs a question to float around out there, what if he is entertaining this idea? What better way to boost the US economy overnight, and getting the boost he badly needs in the polls to win re-election, so he can continue his personal goal to change the US to the vision he see’s, without of course the full votes of both parties? Makes one wonder, does it not? Sorry about the political dig, that parts just personal thinking out loud, or on the
keyboard.
Could these options themselves be sold? In other words could they be used to leverage your control the same way a stock option can?
It’s all correct. It’s a shell game using smoke and mirrors. My guess is the converter just gives you the spot rate. When you buy from a broker their fees are added in, when you sell their fees are added in again. If you buy you pay $320.00. including fees and if you sold they would probable only give you something in the $195.00 range. Yea so you are an immediate $125.00 looser. Kind of like buying a new car. You pay a premium to the dealer (his profit) to buy the car. Drive it around the block and then try and sell it back and you will get less than you paid (his profit again) Only ones who are going to win at this game are the brokers. RV isn’t going to happen without a redenomination. At the end of the day you will loose any and all broker fees while the dinar will most likely remain a wash through the RV/redenomination process (if it ever really happens). Brokers will continue to clip you for 20% to 30% each time you deal with them. Some say BUY BUY BUY because you will become a multimillionaire overnight with your $300.00 investment, yielding over 3500%. They are Dreamers. Common sense and a realistic understanding of basic finance will tell you otherwise. 3500% ROI’s are dreams for the desperate. Pump and Dump brokers is the real deal here. Good Luck!
Hi Chi,
No, the math is not off. Here is how it goes…
If I use my tool to figure out the rate for 200,000 dinar right now, it’s equal to $171 dollars. However, if you’re not in Iraq and want to buy it from a dealer, the going rate is $320. Some tack on additional amounts, like shipping and handling fees, etc. The exchange rate is NOT the same as the going rate. When you buy dinar on reserve or any other method, you want the amount to be as close to the exchange rate as possible which is what my tool give you.
For example, when you call a local bank here in the us to buy dinar, you are NOT going to get the exchange rate listed at the Central Bank of Iraq…
Thanks for giving me the opportunity to clear this up – dinar on reserve is tricky enough let alone trying to figure out the additional fees!
I am confused. I used your Iraqi dinar converter on the previous page. It converted $220.00 US dollars = 257,180 dinars. $200.00 US dollars = 233,800 dinars. But on this page it states 200,000 dinar goes for $320. The math is off right, so which is correct?