Dinar Scam? Is The Iraqi Dinar A Scam?

One of the most common searched terms on the internet in relation to the Iraqi Dinar is the terms "Dinar Scam" or "Is The Iraqi Dinar A Scam?"

Today this issue is going to be addressed and this question is going to be answered. The question of is the Iraqi Dinar a scam is far to vague of a question. The Iraqi Dinar is not a scam, the Iraqi Dinar is the currency of the country of Iraq.
Is The Iraqi Dinar A Scam?
Is The Iraqi Dinar A Scam?

A broader question and a better question to ask is whether a particular dealer is running a scam or is the industry as a whole a scam. The answer to that question is a bit more complicated.

As we stated earlier, the Iraqi Dinar in itself is not a scam, it's a currency. If you purchase Iraqi Dinar and you receive the correct amount you ordered and the Dinar is legitimate non-counterfeit Dinar you have not been scammed, you got exactly what you paid for.

Some people may claim the margin was high or there are better prices out there after buying but that's people's own fault for not shopping around before buying.

As for whether a particular Dinar dealer or Dinar seller is a scam artist that's a totally different discussion. Most of the big names in the Dinar industry are Treasury Registered, offer good customer service and run an honest business.

Now being Treasury Registered doesn't mean someone's notes are legit, nor does it mean they are a good person to buy from. The Treasury Registry is basically just a tax form filled out with the US Treasury, Fincen, and the IRS. There's really no approval process of checking out of the dealer it's simply a form so don't be lulled into a sense of security just because a dealer is Treasury Registered. YOu can aslo check online via the Fincen website and check if a dealer truly is Treasury Registered. Most dealers are happy to provide you with their registry number or form.

Treasury Registration doesn't gurantee a good experience with a dealer though it does make it more likely. A dealer who is following the rules is more likely to be on the up and up. It's also fairly easy to do a google search on a dealer and find out if others who have used them were happy with their service. There's a number of blogs, forums, and websites which rate and review Iraqi Dinar dealers.

The BH Group out of Ohio and Florida is an example of an Iraqi Dinar scam. Do a quick Google search and you can read the stories and news for yourself but apparently not only were they selling DInar and not sending Dinar but they were selling hedgefunds and other investments in the Iraqi Dinar that never existed. That's an example of a scam.

Other examples of scams would be Iraqi Dinar dealers selling counterfeit notes or taking your money and not sending Dinar. These things do happen but it's generally the very small dealers you've never heard of who are selling at unvelievably low prices. We all know the saying if it's too good to be true it probably is.

Now if you're talking about the industry as a whole being a scam, that's a much more complicated question to answer because your attempting to lump all dealers, forum operators, writers, and basically anyone related to the Iraqi Dinar into one group.

As we stated earlier, the Iraqi Dinar in itself is nota  scam, however if dealers are promising people riches or that the Dinar will go up in value that does border on being a scam.

Hope that answers the question of whether or not the Iraqi Dinar is a scam.