XChange Of America First Ever Confrence Call - Regarding Dinar Industry & Sterling Currency Group FBI Raid

Yesterday June 9, 2015 XChange of America who operates the websites and brands Dinar Inc and Tampa Dinar held their first ever confrence call. The purpose of the call was to address the current status of the Dinar industry as a whole. Address the recent Sterling Currency Group FBI Raid, and welcome Sterling Currency Group customers into the XChange of America family.

Below we'll have some bullet points from the call for those of you who missed the call. Should the call become available on a replay online we'll update this post so you can listen for yourself.

XChange Of America Call Notes / Bullet Points

  • Call began with them discussing XChange of America, their growth and where they are going in the future. They put a heavy emphasis on their transparency, accountability, and the fact that they had many brick and mortar locations. They view themselves as a brick and mortar company with a heavy internet presence, but at the heart of their company they are a brick and mortar company.
  • They discussed how they are an industry leader and in another league from most Iraqi Dinar dealers or exotic currency dealers. They have expanded their product line to include not only precious metals but money transfer services like most other brick and mortar currency exchange. They are really excited about their growth, opening up new locations, and offering new lines of products and services to assist their customers. 
  • The reason I tuned in and I'm assuming many of you was for an update on the Sterling Currency Group situation regarding the FBI Raid. Not surprisingly XChange of America said they didn't know anything more than anyone else and that they wouldn't speculate on what the reason for the raid was. XChange of America is a large professional company so it's no surprise they weren't going to speculate or trash Sterling Currency Group and kick them while they are down. None the less many callers called up asking about this once the Q & A session was opened up but XChange of America maintained they coudln't comment on the situation.
  • Early in the call they discussed the entire Money Services Business Industry. They said this is the shakiest they have seen the industry in all their 8 years. They commented on how difficult it is to find and maintain banking relationships as has been seen with many customers of other companies who are unable to get payment for their Dinar selloffs due to banking problems which have been highlighted on forums and social media. XChange of America said because of their brick and mortar approach, transparency, and accountability they have stable banking relationships and their customers can rest assured.

Question & Answer Session


  •  Hats off to XChange of America for fielding customer calls, questions and inquiries. Not surprisingly some people called up with some crazy off the wall questions. Think of the craziest conspiracy theories and the craziest Dinarians out there having the ability to ask whatever crazy question pops into their head and Xchange of America having to field these questions. Was very impressed with how they fielded all questions.
  • Early on in the call I believe the first caller if not the first one of the first 2 or 3 callers said at the end of the call what sounded like "Randy asked me to call in so I asked you an easy question." This made me think the call and callers were all setup or staged. It could have just been a fluke or I could have mis-heard but after listening to all the callers call up I have to say this call was definately not staged or fake. Some of the callers were just too crazy to have made up. Also, XChange of America was asked some tough questions and fielded all the questions wonderfully.
  • Many callers asked XChange of America to speculate on a variety of issues from the Sterling Currency Group FBI Raids to the future of the Dinar and other currencies and as they said at the beginning of the call "we will not speculate." So it was almost comical to hear caller after caller say..."could you speculate on when an RV will occur?" Or "could you speculate on what's really going on with Sterling?"
  • A consistant theme throughout the call was callers who had either purchased physical currency around the time of Sterlings raid or those who had open layaways. Many people were concerned if they will get their money or their currency. These callers were all frustrated that Sterling was not answering any questions or giving any insight into whether they would be back in business, whether these customers would get their money back, etc.. Customers were understandably upset about this and unhappy about the lack of news or updates.
  • Going along with the previous point a common question asked during the call was essentially asking XChange of America "if you were to be raided by the FBI, what assurance do I have that my reserve or layway is still good? One particular caller asked if there was any rule or regulation protecting their purchase. This is not a fair question to ask, asking XChange of AMerica to speculate on IF they will be raided by the FBI in the future. The point is there is no assurances in business or anything so how can they possibly comment on a hypothetical and very unlikely scenario happening in the future. I would also highly doubt there's any rules or laws on the books regarding what happens after a currency seller is raided by the FBI. None the less a couple callers got upset and hungup when XChange of America coulnd't answer this question which really has no answer and would require speculation. It's understandable after the recent events with Sterling that customers would have this concern but XChange of America is not Sterling. They stressed how they have brick and mortar locations, they are more transparent and seem to insinuate they have higher ethical, moral, and compliance standards than others and though they cannot predict the future don't see themselves being involved with something like this down the road.
  • The topic of counterfeit Dinar came up as well. Some callers questioning whether their currency from Sterling Currency Group was legitimate. XChange of America stated that in all their 8 years and all the Dinar they have moved they have not yet come across a counterfeit note. The reason given being for a counterfeiter to make money they need to move large amounts of their counterfeit product. Because banks don't deal with Dinar, there's a very limited market and only a handful of sellers and it would be too difficult to move large amounts of counterfeit currency. Add to that why would a counterfeiter counterfeit such a difficult curreency and one that is worth almost nothing at current value.
  • Along with the previous point something else new we learned is that De la Rue machines are no longer used. I would image they still work but XChange of America stated De La Rue machines are no longer in use and have not been for several years. They were bought out by a company called Telaris I believe. 
  • Many questoins regarding layaways and specific questions regarding layaways such as if my layaway expires on a Sunday and the Dinar goes up, will I be able to pay my layaway off on a weekend. Most of these quesitons people were either referred to the website or told to call back for a one on one discussion the next day as they had a lot of callers and wanted to answer more questions. One interesting thing is XChange of America is unique in that their layaway is 100% refundable at any time unlike other dealers selling layaways where if you don't complete it you lose all deposits made up til that point. 
  • Regarding layaways, one caller called up stating that any sellers selling layaways without a 100% money back refund are selling unlicensed securities which should be licensed and registered with the SEC. I believe the word he used was naked calls or naked puts. This has long been a concern of many out there regarding options. Xchange of America could not comment on this but did state at any time during your layaway you can either get a full USD cash refund or a currency of your choice. 

That is a brief wrapup of the XChange of America confrence call and what was discussed for those of you who couldn't call in and listen. There will most likely be a replay or tape of the call posted at a later date so should it be posted online we'll edit this post and add the link so you can give it a listen for yourselves.

It's definately worth giving a listen. Not only was it informative, but it was also quite entertaining as well. 

Iraqi Dinar 50 Notes Being Called Back... Now That's Irony - Are 50 Notes Going To Become Worthless?

Over the weekend and potentially even the last week we have been hearing a lot of rumors about Iraqi Dinar 50 denomination notes being cancelled or called back or made worthless. We recently did an article about this sharing the limited bit of information we know and  you can read it HERE.

So why is this situation somewhat ironic? People buy small notes for a variety of reasons but years ago there were rumors that large notes may be taken out of circulation and would need to be swapped out. The rumors surrounded mainly the 25,000 note but also in some instances the 10,000 notes as well.
iraqi dinar 50 denomination note worthless
Iraqi Dinar 50 Notes Being Removed?
The story was that potentially Iraq would do away with larger denomination notes as the currency got stronger and people holding large notes would be left holding the bag. Because of these rumors many people ran out and purchased 50 denomination Iraqi Dinar notes at a very steep premium, oftentimes to the tune of $6,000 or $7,000 per million where as they could have bought the same notes in 25,000 denominations for about $980.

The irony is that people who bought 50 notes to protect against having their notes called back are finding that by doing so they are still finding themselves in that very same situation and would have been better off buying 25,000 notes.

To date however concrete or from credible sources has really come out about if the 50 notes really are being called back and if so will they just stop printing them and allow them to retain the value or will they call them back and make them worthless if not swapped out at an Iraqi bank by March? Only time will tell. Stay tuned and check back for updates on this breaking situation.

Iraqi Dinar 50 Denomination Notes... What's Going On? Are 50 Notes Going To Become Worthless?

There's been a lot of buzz lately on message boards, forums, blogs, and Youtube about the Iraqi Dinar 50 denomination notes being taken out of circulation and made worthless comming here in March. So what's the real story and what's really happening with the 50 notes?

Despite doing a lot of research we really don't have a concrete answer for you. I've heard many people saying you have until March to swap them out and if you don't they become worth $0 and you're holding nothing more than a fancy piece of paper.

iraqi dinar 50 denomination note going away
Are Iraqi Dinar 50 Notes Being Recalled?

That said I've also heard from several different people Iraq is actually planning on rolling out a new 50 denomination note which will be "polymer" or plastic, similar to the Vietnam Dong.

To date however we have yet to hear from a credible source one way or the other about the 50 notes. Here is something interesting however. Despite all our searching we could only find one example of a country doing away with a single note and not the entire currency. This example is the Canadian Dollar. What Canada did is stop printing pennies or 1 cent denominations. If you could like to read the article for yourself you can so so HERE.

One interesting distinction to make between the Canadian example and potential Iraqi Dinar 50 note scenario is that at least initial reports of the Dinar are not that they are just discontinuing the printing of 50 notes, but more importantly that the 50 notes if not turned in by the deadline will become worthless.

The Canadian Dollar however is a completely different story. The Canadian Penny as that article states will still be legal tender. Pennies will still be foating around, you can still spend pennies at the store, they just won't be printing anymore. That differs from what's being reported about the Dinar in that the Penny though discontinued still retains it's value where as the Dinar, at least as far as initial reports are saying will become worthless.

So is this 50 note ordeal really true? Maybe, maybe not, I'm still not yet sold on the story. Here are a couple issues I have with the story as told.

First, the deadline to turn notes in is sometime in March. Not saying this isn't true but typically when a note or currency is outmoded you are generally given about two years to swap out your notes. This seems odd they would only give a matter of months.

Secondly, in the example we gave above of the Canadian penny, a currency being outmoded is different than just geting rid of hte lowest denomination offered which doesn't make financial sense to produce. It seems odd they would make the 50 notes worthless versus just stopping making them and allowing the current ones to circulated.

Lastly on a totally seperate note, what does getting rid of 50 notes mean for the future of the Iraqi Dinar? Well potentially it could mean nothing. It could be that now that they have coins out in the denominations of 25, 50, and 100 there really isn't a need for a 50 note. One thing that it may mean is if the Iraqi Dinar were going to get stronger in value there would be a reason and incentive to keep small notes because they would be more usable in trade than at the current value of 4 cents. If Iraq planned on having a more valuable currency they would probably keep issuing new smaller notes, not taking out of circulation existing small notes.

To date we've yet to see any Dinar dealers roll out a buy back program for 50 notes and honestly, even if one did, unless you have a significant amount of 50 notes it's probably not even worth trying to swap them out. At a value of 4 cents per note, which a dealer will want to take a cut on you'll be lucky to get a penny or two per note.

As soon as some news which is more concrete and more credible comes out we'll update you but this is what we know for now.

Zimbabweans To Be Compensated As Local Currency Is Demonetized - What Does This Mean?

A reader of ours forwarded this article along to us. This article seems to come from a legitimate news organization and some some Guru site. That said what does this mean? Of that we are unsure. Give the article a read yourself and if you have any thoughts or opinions feel free to post in the comments section below...

Image result for zimbabwe
Zimbabweans To Be Compensated Fully

Zimbabweans to be compensated fully as local currency is demonetized

HARARE, Feb. 23 (Xinhua) -- The Reserve Bank of Zimbabwe (RBZ) will use the rate of one U.S. dollar to 35,000 Zimbabwe dollars as it moves to demonetize the local currency and compensate account holders who lost their savings when the government introduced multi-currencies in 2009.

RBZ Governor John Mangudya told Xinhua in an interview Monday that everybody who had an account as of December 2008 would be awarded a blanket five U.S. dollars per account regardless of whether or not there was any credit in their bank balances.

Mangudya's comments allay fears that had beset the banking public which suspected that the RBZ wanted to credit the accounts with only five U.S. dollars and disregard the balances in the accounts at the time of the introduction of the multi-currencies.

The Confederation of Zimbabwe Industries also issued a statement recently urging the RBZ to fully compensate account holders.


Who Is Cash For Dinars? Should You Sell To Them?

I've gotten a number of comments as well as e-mails from readers asking questions about the company "Cash For Dinars" who operate the website CashForDinars.Com. Most people are asking if it's a trustworthy place to sell Dinar, as well as if I have had any experience with them.

I did however find a review from a customer of theirs on Youtube which you can view below...

Though I have not had any personal experience with Cash For Dinars, I am aware of them and have seen numerous ads of theirs on Google as well as Dinar forums and websites. Below is an image of one of their Google Ads which come up on almost any search regarding the Iraqi Dinar.

As you can see in the Google ad, Cash For Dinars is advertising that they pay $875 per million Dinar. That's a pretty attractive price considering most Dinar dealers are only paying around $780 per million for Dinar. Not only is this above what most other dealers are paying, Cash For Dinars is actually paying more than the Dinar is even officially worth; as the Iraqi Dinar is currently trading between $864 per million and $866 per million. So what's the catch? There has to be a catch right?

After doing a bit of research and calling Cash For Dinars to inquire about their buyin process and what's required to get the full advertised price here is what we've found...

Cash For Dinars Requirements To Get Paid $875

  1. Iraqi Dinar must be in uncirculated condition.
  2. Iraqi Dinar notes must all be in sequential serial numbered order or it will be considered circulated
  3. Must have origional receipts
  4. Must have certificate of authenticity

Again, I cannot personally attest to the service and reliability of this company, it does seem they have plenty of Facebook fans and positive reviews on the internet. It seems as if they are a reliable source to sell your Iraqi Dinar to. That being said they also seem to be stricter than many other dealers in terms of what is required to get their full asking price.

If you have personally dealt with Cash For Dinars feel free to leave a comment below detailing your experience to help other potential Dinar sellers decide where to sell their Dinar. 

Is The Iraqi Dinar Going To Revalue February 1, 2015?

Is The Iraqi Dinar Going To Revalue This Sunday?

The internet is a buzz with rumors that the Iraqi Dinar is set to revalue February 1, 2015 which is just a few days away. The rumor is Iraq has passed their budget, though it's officially not going to be released for a few more days and then the Iraqi Dinar will be reset to it's previous value when Saddam Hussein was taken out of power.

So You Wanna Know About The ZIM? ZImbabwe Dollar Data Sheet

Okay so Zimbabwe currency seems to be all the rave these days but there's very little information online about the Zimbabwe currency so here's a quick data sheet giving you some info regarding the Zimbabwe Dollar.

The Zimbabwean Dollar was the offical currency of the country of ZImbabwe from 1980 to 2009. Because of political turmoil and the collapse of the economy as well as hyperinflation the Zimbabwe Dollar whose ticker symbol is/was ZWD is no longer in circulated.
Zimbabe Dollar Currency 100 Trillion Note
Zimbabe Dollar Currency 100 Trillion Note

Typically the standard trading currency used and accepted is either US Dollars or South African Rand. Though not as favored the British Pound, Euro, and the Botswana Pula are also typically accepted fairly easily. In countries like this they often require notes of certain mint years only and sometimes only in crisp new condition so if traveling to this area find this out. Many African countires will only accept US Dollars for example 2008 and newer and in crisp mint condition.