How to Purchase Iraqi Dinars

How to Purchase Iraqi Dinars
Most people in the world are pulling for economic growth and recovery in Iraq. One way to measure this growth is through the valuation of the currency, the Iraqi dinar. Unlike other currencies, the dinar cannot be purchased through a currency exchange, and though the United States Secretary of Commerce has set up a special task force to oversee the growth of the currency, there are still issues with counterfeit copy and authenticity. At this point in time there are two methods for purchasing dinars: travel to Iraq or work with a reputable dealer.

Instructions

Difficulty: Moderately Easy

Step 1
Find a dealer. There are many dealers claiming to be reputable. Verify the seller is registered with the U.S. Treasury as a money service business (MSB). Use the Treasury's Financial Crimes Enforcement Network Web site at fincen.gov to verify registration.
Step 2
Ask the dealer for the current exchange rate. The exchange rate in the fall of 2009 was 1,170 new Iraqi dinars for $1 US. A falling rate indicates an increase in the value of the Iraqi dinar; that is, one U.S. dollar buys less Iraqi dinars.
Step 3
Place your order with the dealer. Note the number of Iraqi dinars you will need to purchase and the denominations you would like to receive them in. You can usually pay the dealer with a credit card, check or money order. Some dealers will also allow COD orders.
Step 4
Learn to spot counterfeit dinars. Hold the dinar up to a bright light source and look for the image of a horse head embedded (not printed) into the paper. The eight-sided symbol in the bottom left hand corner should change from purple to green when viewed from different angles. Use an ultra-violet lamp to see a UV box with writing inside -- this is located on the back side of the dinar. Finally, check for the image of a dove in metallic ink on the top left hand corner -- this is also located on the backside of the dinar.

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