We’ve had a number of inquiries from investors asking us if we can help them buy Iraqi Dinars. The answer is: NO.

There’s an urban myth floating around that buying Dinars now will make you wealthy once the country has reconstituted itself and joined the international economy. After all, Iraq has the third largest oil reserves in the world.

It’s economy is growing at an astounding rate. Dinar sellers are suggesting returns of 1,000% in just a few years.

BUT: You cannot redeem the money. Try calling any currency exchange broker and ask them if they’ll buy Dinars. Try calling any bank. And think reasonably: Does it make sense that every Iraqi citizen who has some cash hidden away will suddenly become 100 times richer when the country becomes a member of the Arab or some other Economic Union?

The idea sound sexy, but it doesn’t work legally, and it fails the common sense test.

Stay with currencies you can trade with your broker or bank!