This morning I received an e-mail from one of our readers with an interesting question. Do today's Iraqi Dinar investors have less reason to invest in the Iraqi Dinar than those of us who got in back in 2004 and 2005 in the early days of the Dinar?
It's an interesting thought. I don't recall exactly how I first heard about the Iraqi Dinar but I heard about the Iraqi Dinar as an investment. I don't think I ever really thought I would be a millionaire, but the thought definately crossed my mind that it's good to get into things on the ground floor and at the beginning. You want to buy low and sell high and at that time the Iraqi Dinar was trading at about $500 per million on eBay if I remember correctly. Talk about buying low it doesn't get much lower than that.
I think I was in so early the Gurus weren't even around to pump me up with lies and promises of riches but none the less I realized if I got in early and Iraq got their act together there potentially was some money to be made. Now granted here we are almost a full 9 years later and not much has changed. Sure I've made a little bit of money if I were to sell. Though going rates or prices to buy from a dealer are currently about $1020 per million, if I wanted to sell mine to an individual or a dealer I'd probably get about $800. Now granted that's a good $300 over what I paid so money was made however making $300 over the course of almost 9 years isn't exactly something to brag about either. My money would have probably grown more in Silver or the stock market for that matter.
This all brings us back to the question of whether early Iraqi Dinar buyers had more reason to buy than those buying today? I suppose the answer to that question could be both yes and no. Maybe they have more reason because gosh darnit the Iraqi DInar is going to revalue, it's been 9 years so we must be close. I can see some people saying now is as good a time to buy as any because it's close.
Overall though I think the attittude towards the Iraqi Dinar has turned into a pessimistic one. I think even the most fervant Dinar believers have grown tired or rumor after un-fullfilled rumor by TNT Tony and the other Gurus. I think some people have looked at the lack of progress over the past 9 years and looked at the amount of Iraqi Dinar in circulation and have come to the realization it can never be worth the $38 they were promised it would be worth let alone even a couple dollars.
I can see why this reader would say early Dinarians had more reason to invest. They got in at the absolute rock bottom price, they were in early before others, and this was all before the Gurus were pumping people up with rumors. Early Dinar buyers were not all that different from those who got into Bitcoin a few years back when it was only 0.06 cents. Both Dinar buyers and Bitcoin buyers got into something in the early stages hoping and speculating it would go up in value. The only difference however is that the Bitcoin buyer, at least those who were patient enough to hold out for a few years became millionaires many times over where as many Dinar buyers have since sold their holdings or are still sitting on something worth a bit more than their origional investment if only by a couple hundred dollars
Nothing especially groundbreaking here but interesting food for thought. When did you get into the Iraqi Dinar? Early on or have you bought in the last couple years? And most importantly are you still buying today?