Iraq Dinars & Gold Coins & Guns

[thaistick]

I have been trading forex for a few years which got me interested in investing in undervalued physical currencies.I have about $10,000 in yuan,ringgits,singdollars,etc.,but also have $40,000 invested in 40 million of the new Iraq dinars.They make up a rather large bundle and could I enter Thailand with a large bag of Iraq cash and would customs have problems with it?

Also have about $10,000 in gold and silver bullion pandas,eagles,maple leafs,etc.,

and can I be allowed to bring it in?

I am starting to sell my gun collection and should I forget about shipping in a few of my favorite 9mm Berettas or .380 Walther PPK's?

[thaidreams]

guns bad

gold good

http://www.investorsiraq.com/

if the elections are successful and the dinar is released on the world market its to the moon time.from 1/10 penny per dinar to a penny overnight and up to a dollar in a few years.

[GuestHouse]

I can't imagine why anyone would risk carrying/holding this kind of currency.

And anyway, where are you going to trade it?

Why even hold it, Forex traders tend not to actually hold the currency but move it within currency accounts, of course Walter Mitty might do otherwise.

I find the whole basis of this post - Odd.

[thaistick]

I can't imagine why anyone would risk carrying/holding this kind of currency.

And anyway, where are you going to trade it?

Why even hold it, Forex traders tend not to actually hold the currency but move it within currency accounts, of course Walter Mitty might do otherwise.

I find the whole basis of this post - Odd.

<{POST_SNAPBACK}>

Cash is king.Plus trading forex is trading an ethereal electronic currency on some computers somewhere.

Even though I was against the Iraq invasion and think Bush has screwed America

with the world(I even spent one year at the same New England prep school as him),I know he or any US government can never withdraw from Iraq.It would be disastrous for the US geopolitically and economically.Iraq has the world's second largest proven oil reserves and too many corporations are getting in.So if my 40 million Iraq dinars comes close to what it was worth pre-Saddam,its cruises around the world forever time for me.

[Flummoxed]

I can't imagine why anyone would risk carrying/holding this kind of currency.

And anyway, where are you going to trade it?

Why even hold it, Forex traders tend not to actually hold the currency but move it within currency accounts, of course Walter Mitty might do otherwise.

I find the whole basis of this post - Odd.

<{POST_SNAPBACK}>

On the contrary, there is something to be said for physically holding banknotes... do you think the Bank of England were thinking with their wallets when they sold huge quantities of gold in exchange for foreign banknotes, now sitting in their vaults?

Of course it adds risk and you may well need a large safe but you are at just as much risk from finance houses collapsing etc etc etc.

Myself, I keep a mix of GBP (I'm very lucky in being paid in GBP with it's huge buying power) HKD, PHP (risky but I think I got it right) Now looking at Singapore Dollars eagerly. Note I keep a small percentage in cash and most in my various accounts around the world.

[aqua4]

So if my 40 million Iraq dinars comes close to what it was worth pre-Saddam,its cruises around the world forever time for me.

To many if's and but's for me. I would think the first problem is going to be the ability to sell the physical money. There will be no liquidity in the market. Since Bangkok Bank aint going to take it, you might have to fly to Bad Dad to change your money.

if the elections are successful and the dinar is released on the world market its to the moon time.from 1/10 penny per dinar to a penny overnight and up to a dollar in a few years.

The first thing that will happen is the market will get flooded by everyone else who holds onto the Dinar. They will all want to sell and it will take a dip. But then again, where are you going to sell your physical currency?

I think it is wishfull thinking that you will go X10 overnight.

[OldAsiaHand]

Haven't any of you guys worked out that you're having your leg pulled here? Jeez, can you be so hungry for conversation that you can't even smell BS when someone throws it at you anymore?

[thaistick]

Haven't any of you guys worked out that you're having your leg pulled here? Jeez, can you be so hungry for conversation that you can't even smell BS when someone throws it at you anymore?

<{POST_SNAPBACK}>

Yup.I made it all up and don't have any dinars in crisp 5000,10000,and 25000 notes directly from antiquesrus.net in Jordan.Neither do the 2 people I ordered 100 million dinars for $100,000 each or all the friends,family, doormen,maids,

etc.,I helped get dinars for.

And nobody can order gold or silver coins from apmex.com,goldmasters.com,

kitco.com,etc.

But I'd rather have nothing than imaginary dinars and bullion.

Edited December 23, 2004 by thaistick

[GuestHouse]

I can't imagine why anyone would risk carrying/holding this kind of currency.

And anyway, where are you going to trade it?

Why even hold it, Forex traders tend not to actually hold the currency but move it within currency accounts, of course Walter Mitty might do otherwise.

I find the whole basis of this post - Odd.

I Guess it never occurred to the OP who 'Walter Mitty' is?!

[Mali_in_CM]

I think most would agree that brining in guns is a bad idea. I understand wanting to keep a favorite piece, but it's too dodgy. You can get a piece here.

I fully agree with holding physical. I don't know what the customs hassle would be, but you can bet there is one.

To make matters worse, selling gold here is not like the US or UK. A "bullion" coin like 50 Pesos or Kruggerand will only bring about 12% BELOW melt. Anything that's 24K is better, but not great.

The only thing the gold shops will buy without skinning you alive is "baht gold" chains etc ans .999 bars. I've gotten full value for Thai bars and Credit Suisse bars.

I would leave the guns and gold with a trusted friend in the "first world" so they can be sold on your instructions.

I've got coins here I'd like to sell but FedEx won't ship coins. DHL won't insure them. The Thai post office is BS. And as far as I know there's no ANA / NGC / PCGS dealer here.

So there you have it.

[LivinLOS]

Please advise me of any reliable dealer that has Kruggerands at 12% under gold spot prices..

[Rinrada]

So are you saying that all of my Bank of Cambodia pre-Pol Pot Rials are ...wot

[SeaVisionBurma]

I Guess it never occurred to the OP who 'Walter Mitty' is?!

<{POST_SNAPBACK}>

Well, where I come from "walter mittys" is rhyming slang for, err...

(eg did you get a look at her nice walter mittys)

yeah yeah, I know, off topic....