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When you sell back Iraqi Dinar, you’ll notice that your quoted payment amount is presented in a range. We pay more for uncirculated notes, so depending on the quality of your currency, your final payment amount will fall somewhere in this range (assuming your send the exact denominations and count that you specified in your redemption request).
The payment amount is determined precisely based on the number of uncirculated and circulated notes we receive. Here are a couple examples that demonstrate how the calculation is performed. For simplicity, let’s assume you’re selling 100 x 10,000 notes that have a circulated exchange rate of $600 / M and an uncirculated exchange rate of $700 / M. In our example, you’re selling 1,000,000 (or 1M) in foreign currency and the range presented is $600 - $700 before shipping.
To see the difference between uncirculated and circulated notes, please see our note quality page .
We accept a maximum of $5,000 US dollars’ worth of currency per transaction when checking out online. However, we can accommodate orders of any size, so please contact us at 877-723-3391 for help with setting up a larger request. The $5,000 maximum is imposed to limit your outstanding liability while your currency is in the mail because you are responsible for the package until we receive it.
Once your initial transaction is complete you may request another RA. You may repeat the process as many times as you like until all of your currency has been redeemed.
We have received a number of inquiries about exchanging currency, including Iraqi Dinar, for gold or silver. We do not currently exchange dinar for gold or silver; however we will continue to research the possibility of of offering exchange services for gold and silver, and should the opportunity arise, we will make that available on the web site.
The exchange rates that determine how much we charge (if you're buying) and pay (if you're selling) for foreign currency in USD is updated automatically throughout the day based on factors including supply, demand, current market rates and inventory levels, etc.
As the exchange rate increases, the USD price for currency will also increase. Conversely, if the exchange rate decreases, the USD price will also decrease. When you place your order, the quoted rate is locked in until 5pm ET of the next business day.
As the exchange rate increases, you may receive more for your currency. Conversely, if the exchange rate decreases, you may receive less for your currency. The exchange rate and order totals quoted will be locked at the time you place your redemption if your RA (return authorization) is approved. The locked-in rate is contingent upon us receiving your redemption within the 5 business-day lifetime of the RA.