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Buying Iraqi Dinars – Trust is Essential

Investing in the Iraqi Dinar has been a hot topic since the fall of Saddam Hussein's tenure in 2003. There are many sites that buy and sell Iraqi Dinars, some vary in price, payment options and shipping options. In addition, there are hundreds of blogs and forums dedicated to talking about the revaluation of the dinar – some filled with reliable insights, but many are just rumor mills. With all of this noise out on the web combined with the fact that you can not buy and sell Iraqi Dinars at most established banks in the United States, it's hard to know who and what to believe when it comes to the Iraqi Dinar, especially when you're trying to buy dinars off a website.

1. Make sure the site is registered with the US Treasury as a money service business (MSB). A US Treasury registered dealer must comply with all rules and regulations issued by the US Treasury and comply with applicable US Patriot Act Regulations and OFAC sanctions. Failure to do so may result in the dealer being revoked of his privileges to buy and sell the dinar in which any of his customers will have bought dinars from an illegal broker.

2. Clean record with the Better Business Bureau. BBB ratings are based on, among other things, industry experience and customer satisfaction. Only do business with dealers who have an excellent record.

3. Speak to a representative. Get a feel for yourself in how a representative answers your questions. Is he respectful and does he directly answer your questions? Be wary of representatives who say that the Iraqi Dinar is a fail proof investment and will dramatically increase its value very soon, pressuring you to buy now. Ask the representative for proof of registration with the US Treasury and its rating with the BBB (normally a link on the site). You are bound to have questions about the Iraqi Dinar, it is imperative you trust your sources.

Whoever you buy dinars from, make sure it is from a trusted source – registered with the US Treasury, great record with the BBB and someone that frankly answers your questions.


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