Iraqi Dinar Suddenly Expensive, Hard-to-Find in U.S., Canada

Iraqi Dinar Suddenly Expensive, Hard-to-Find in U.S., Canada

In the days leading to to Iraq's inaugural Independence Day, which was celebrated for the very first time in history on October 03, 2023, something peculiar happened. Iraqi dinar (IQD), Iraq's native currency, saw a dramatic reduction in supply and increase in demand in the days leading up to the national holiday.

While this may turn out to be completely unrelated and irrelevant to the exchange rate between between the dinar and dollar, Euro, Yuan, Yen and other major world currencies; at least on paper, Iraqi Independence Day implies Iraq is independent. That is significant because without being independent (for example, if a foreign country's troops still occupy a foreign state, that country is under occupation and not sovereign. In order to have a sovereign currency, one must have a sovereign state.

Iraq celebrating Independence Day implies that the war is over, US troops are leaving or have left, and the conditions for the removal of sanctions are all present, meaning there should be a massive influx of demand for the IQD. If that happens without a proportional increase in supply, the market dictates the value of the dinar will increase immensely. When the dinar will revalue is still anyone's guess, but all signs are increasingly pointing to it happening if not already happened and just not announced publicly.

Question: Do You Sell Banknotes from the Iranian Rial Currency? | Egan Store Blog

Question: Do You Sell Banknotes from the Iranian Rial Currency?

Egan Store Blog

One question we at Egan Shop (formerly Egan Store) are often asked is whether or not we sell (or have the capacity to procure) Iran's currency, the Rial. The short answer is an unequivocal "no", although it's a bit more nuanced than our simply lacking desire to offer that particular line of products, or a perceived inability or unwillingness to obtain and/or sell them.

The reason we at Egan Shop / Egan Store DO NOT sell Iran Rials is rather simple: it's illegal in the United States for an American citizen to do so. Our opinion about this and all laws is irrelevant. Same reason we don't sell banknotes from North Korea.

From a business standpoint, were it not for that it would make all the sense in the world due to its regional relevance to some of our other top-sellers, not to mention its relative scarcity in the U.S. Additionally, I have a friend in a Middle East country that is friendly with the United States, but who is all about numismatics and banknotes in particular. Rials were his top-selling line of products until western payment processing companies demanded he cease selling them or they'd stop processing his payments, so I don't envy the catch-22 he's in. But if I hypothetically wanted to buy it, I easily could through him (he can sell it legally, and I could probably sell it for double if not triple what I'd be paying for it, but for someone who isn't known for being particularly risk averse, the government is the one entity I want no trouble from under any circumstances, and ideally there'd be no communication between they and I at all.

All that being said, while my friend over at Numismatics.shop is not able to get you Rials either, but he's an awesome guy, and I'm blessed to have such a friend. I'd encourage our customers and any readers passing through who may not yet be EganShop.com customers to pay him a visit, and if you see something you like please buy consider buying it. He's one of the real good guys in this business, and I know Mellenia and I might have lasted this long regardless, but the odds of that are pretty slim. So if you like us, please take a moment to thank this man and express to him your gratitude, because had the two paths not crossed, I'm not sure we survive as long as we have.