When you’re ready to sell your currency, it can be daunting to know where to begin, who to trust, and how to proceed. In fact, the most common questions we receive have to do with redemption transactions:
- How do I get started?
- What do I need to make it happen?
- How long will it take?
- How does shipping work?
Although we answer popular questions in our FAQ and provide a simple video walkthrough, it may be helpful to have a comprehensive guide at your fingertips. If you approach the process step by step, we believe you will find it straightforward; if not, we are usually available on live chat should you need help.
Note: while this process applies to all our accepted currencies, we will label information specific to the Iraqi Dinar with “IQD”.
Day 1—Ready to Sell!
The Decision to Sell...
It begins with the decision: You’re ready to sell your currency, whether it be Iraqi Dinar, Vietnamese Dong, Indonesian Rupiah, or many others. You did your research to be sure you are working with a reputable dealer, and that brought you to us. Great! Let’s proceed.
The Website Basics
From our homepage, select “I would like to sell currency”, pick your currency, and enter your denomination. You will immediately see a range in redemption value, updated daily based on current exchange rates, demands, and circulation.
You will need to either create an account, or sign in if you already have an account. If you’re a returning customer, your basic information will be conveniently (and safely) saved from your last transaction.
Picking a Shipping Method
After entering your basic shipping information, you arrive at your first major decision: how to ship your currency.
Historically, the only option was to visit your carrier of choice, buy a shipping label at the expensive “rack rate”, and mail your package through that carrier. While that option is still available, we now offer a solution that’s better for you in virtually every way: cost-savings, time-savings, reliable delivery, and superior tracking.
With this new solution, we create your FedEx shipping label at our reduced vendor rates, yielding an average customer savings of about 15% over the standard walk-in FedEx rate.
You then print the label from the comfort of your home, tape it to your package, and drop it off at any FedEx store or drop-off location. We can then provide shipping updates throughout your order without you having to lift a finger, and the label cost is added transparently to your redemption total for maximum convenience.
For most customers, this approach is the best option. Whatever the case, make your Shipping Method selection, and move onto Payment Method...
Picking a Payment Method
You are welcome to receive their check by mail, but most prefer direct deposit. Direct deposit is easier, faster, and cheaper than a physical check, arriving in your bank account the business day after your notes have been processed. It also eliminates the risk of extreme weather interference or lost packages while saving you the trouble of depositing the check.
We pride ourselves on offering the fastest redemption payment in the industry, and our direct deposit option takes this to another level. Whatever you select, choose your payment option, review your order details one last time, and click “Place Order”.
“Place Order”—Now What?
You’ve confirmed shipping and payments, reviewed your order, and clicked “Place Order”. But your currency is still sitting on your shelf, or perhaps in a shoebox under the bed. So what happens next?
The Important Thing We Need Before You Ship
Before you begin the process of packaging and shipping your currency, there’s one important thing we need: proof of a valid government-issued ID in the seller’s name. By far your easiest option is to take a picture of your driver’s license or passport on your phone, then text or email it to us. Once we have this on file, you won’t need to resubmit it for future orders.
Call it a Day (or Continue)
Provided the ID is valid, submitted before 4pm ET, and there are no other issues with the order, your order will be processed on the same business day. Let’s presume your order was placed after 4pm and continue onto “day 2”.
Day 2—Pack and Ship.
Your Return Authorization (RA)
Once we receive and verify your ID, we will email you a Return Authorization (RA). Your RA is a unique identifier of your order, allowing us to be certain the ID you provided is the source of the currency we receive.
Your RA is important for another reason: once you receive it, you have 5 days to get your currency to us. If you used our FedEx labels, this gives you three days to pack and ship your currency under our 2-day option, and four days if you selected standard overnight. We will assume you chose “standard delivery”.
Assemble your Packing Supplies
It’s time to assemble your package like a pro. To begin, you will need:
- Your redemption currency (of course!)
- Your printed RA
- 1 plastic bag
- 1 shipping envelope
- 1 secure shipping box
- Packing tape
- Packing material (bubble wrap, newspaper, etc.)
- Your shipping label
IQD: Handling your Currency
We can’t overstate the importance of delicacy in handling your currency. The standard for “uncirculated” Iraqi Dinar notes is stringent:
- Immaculately clean
- Perfectly flat when stacked, with a clean edge
- Free of bends, creases, or folds
- Untouched by paper clips, rubber bands
- Unharmed by extreme temperature, light or humidity
Unless your notes have been handled with great care, you should expect them to be graded as circulated. Just because you purchased your notes as “uncirculated” from a dealer offers no guarantee they will be treated as such in our grading system (we’ll tackle counting and grading in depth below). Thankfully, once a note is circulated, it does not significantly depreciate with normal wear and tear (except in the extreme).
Finally, it’s worth noting that despite some erroneous reports that pre-2014 Dinar are devoid of value, this is absolutely not the case.
Securing your Currency
If your notes aren’t already secured within a plastic bag, do this first. If you are aiming to redeem your notes as uncirculated, it is impossible to be too careful.
At the same time, we recommend counting your notes to be positive you ship the amount indicated on your order.
Packing your Currency
With your currency in a secure plastic bag, transfer the bag into a shipping envelope. This envelope is the ideal place to store your RA. Failing to include the RA with your shipment will require you to pay the return freight on your package and restart the whole process, so be certain your printed RA is in that envelope!
Next, put the shipping envelope into a shipping box—any sufficiently sized cardboard box will do—pack it securely with packing material, and secure the box with tape.
Taping up your Box
If you opted for our FedEx shipping label, you will need to print out and tape it onto your box. Be sure to apply packing tape over the entire label so it adheres completely to the box.
You did include your printed RA, right?
Time to Ship!
With our FedEx options, all you need to do now is deliver your package to the closest FedEx store or drop-off location.
Congratulations! Your part of the redemption is done. It’s time to let FedEx do what they do best: transport your package safely to our armored service grading site.
Day 3—Counting, Grading and Payment Confirmation.
With overnight shipping, your notes will have arrived. What happens next?
From the moment your notes transfer from the care of FedEx to our armored carrier, your package’s safety is ensured by video surveillance. A trained, experienced note grader will expertly review your order, confirm quantity on a counting machine, and grade the quality of notes. As mentioned, the grading process is binary—your notes are either considered circulated or uncirculated. In the rare instance that certain notes are too damaged for resale, they will be returned to you, with shipping costs deducted from your redemption payment.
The grader’s assessment of the note value is final, so if you’re still concerned about getting a fair deal on a large supply of notes, we recommend starting with a small test order.
Once counting and grading is complete—all orders received before 2pm are counted and graded the same day—you will receive an email notifying you of payment, which you will receive the following day by check or direct deposit.
- On day 1, you placed your initial order. If you placed the order before 4pm EST, then it is possible to actually combine day 1 and day 2’s activities into one, getting paid a day faster.
- On day 2, you received your RA, carefully packed your currency, and dropped it off with FedEx.
- On day 3 (with overnight shipping), your notes were counted and graded.
- On day 4, you received your payment directly in your bank account (with direct deposit) or by check.
That’s it! If you initiate your order on a typical Monday and follow these steps, you should receive payment by Thursday—just 4 days from start to finish.