Iraqi Currency Hot on EBay

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Iraqi Currency Hot on EBay

By Joanna Glasner

02:00 AM Apr. 10, 2003 PT

The Iraqi dinar -- a currency so hyper-inflated as to be virtually worthless in the real world -- is gaining fresh value among collectors.

In the three weeks since the start of war in Iraq, sellers of bank notes have seen a surge in demand from collectors for currency containing images of Saddam Hussein.

On websites of currency dealers and on eBay, merchants say prices, particularly for higher-denomination bank notes, have increased appreciably even as the actual buying power of the dinar continues to decline.

George Lindgren, who sells bank notes on eBay, calls it the Saddam dinar bubble.

"The day I saw President Bush announce they would be sending in the troops, the bids on my dinars went ballistic," said Lindgren, who runs multiple auctions each day on eBay. Over the last three weeks, Lindgren said he has been receiving more than 1,000 dinar-related e-mails a day and has slept no more than a few hours each night.

Hmm maybe I should buy some dinar on ebay... I bet more stuff from Iraq will be selling soon too. The things people sell on ebay these days.

How much do you think Saddams statues would go for ?

I am going to sell $1 on ebay and see what i can get for it

They will anything on ebay these days. Although I agree that the currency will probably be worth something to collectors since its about to be extinct.

I wonder how much Saddams dna will go for?

Where you will find some economic interest is in the purchase of Iraqi Govt. debt.
There is a very strong rumour (based on what, I do not know) to the effect that Iraqi oil revenues will be used to pay off the many debts of Saddam ( or some of the many debts: US and UK creditors first in line, I think)