Beware of the Iraqi Dinar Scam! Did you know that at least one state lists Iraq Money as one of the biggest scams on the internet? In fact, the State of Utah lists Iraqi Currency as the #2 scam on the internet!
'Advertisements in local newspapers promise great wealth by purchasing the new Iraqi dinar. Promoters explain that as democracy comes to Iraq, the expected peace will stimulate the Iraqi economy and the value of the dinar. What investors are not told is that the dinars can be redeemed only in Iraq and that the sellers already have doubled their money. Thus, the dinar would have to more than double in value and you would have to take a trip to Iraq to collect any profit.'
Try this - the next time you visit a site selling dinar, take a look at the disclaimer located at the bottom of their site; it's absolutely shocking! (the shocking stuff is usually in the first few lines of the disclaimer).
The new Iraqi Dinar is real and not a scam itself, it's the selling of the Dinar without telling the buyer that they are doubling the price and that it can only be redeemed in Iraq that is wrong. In fact, the central bank is reported to state that it's illegal to remove dinar from Iraq.
The only people making money on the Iraqi Dinar are internet dealers. They make a ton of money as soon as you buy dinar, may sell you fakes and will NOT buy back the currency. Once you buy the Dinar, you'll find it almost impossible to sell it back!
I should say that there is a remote possibility that you could buy Iraqi Dinar and make a good profit, but that possibility is so small, it's almost impossible to measure it; State government considers it risky enough to list, so why in the world would you consider it any different?
Oh, and if you see a site that is registered to sell Iraqi Dinar, don't be impressed. What they are not telling you is that they have registered with the government as a company dealing with money. It has NOTHING to do with the Iraqi Currency and does not mean they are trusted in any way. It simply says they filed a form informing the government that they are dealing with money. In fact, ANYONE can fill out this form and send it in and you'll get a statement saying you filed the form. Iraqi Dinar sellers use this to make themselves look legitimate so do not be mislead!
Remember, if you're going to look at the dinar as an investment, look at the disclaimer found on sites selling the dinar. Shocking!