Thread: Cashing in, please read.

Let's say it will be announced on Sunday, and I believe it will, how quickly do we think it will start to rise in value? Within hours, days, weeks, months? I will probably sit on it for at least a week before cashing in more that 5K. That is if I can contain myself.

Originally Posted by readytogo

Let's say it will be announced on Sunday, and I believe it will, how quickly do we think it will start to rise in value? Within hours, days, weeks, months? I will probably sit on it for at least a week before cashing in more that 5K. That is if I can contain myself.

I am so with you!! I will most definatley be using a sick day on Monday if there is confirmation on Sunday. And it will be VERY hard to not go and get at least a little cash to play with

Originally Posted by jsfletcher

I am so with you!! I will most definatley be using a sick day on Monday if there is confirmation on Sunday. And it will be VERY hard to not go and get at least a little cash to play with

Thats' gonna be a tough call . . . it could actually go down depending how much cash *floods-in* . . .

Depending on your tax situation I would recommend that you cash in a bit more than 25 - or 50K . . . best bet is to use a bit of your new wealth to hire a *savy* accountant & a savy financial advisor . . .

i cant believe that this is possibly happening, my heart has been racing all day long! Ok if this thing does RV on sunday, should we first before cashing at the bank go to a tax professional or can that wait until afterward we've cashed out, i only plan on cashing out enough to buy a decent house and stashing some in savings acct then i'm sitting on rest of my dinars.

krissy

Originally Posted by krissy72

i cant believe that this is possibly happening, my heart has been racing all day long! Ok if this thing does RV on sunday, should we first before cashing at the bank go to a tax professional or can that wait until afterward we've cashed out, i only plan on cashing out enough to buy a decent house and stashing some in savings acct then i'm sitting on rest of my dinars.

krissy

No, No definitely check with an accountant & a financial advisor before you cash in . . . you can now afford them . . .

You've gotta shop around to several banks for the best rate [ a penny difference on a million = $20,000.00 ] , and you'll have tax issues . . . if you've only held your notes for under a yr the capital gains tax is approx. 35% / over a year its approx. 15% . . .

Adster has a good piece on this under *cashing-in* page one with a bit of humr . . .

Take my advise . . . get advise first . . .

Originally Posted by RollsRoyce

No, No definitely check with an accountant & a financial advisor before you cash in . . . you can now afford them . . .

You've gotta shop around to several banks for the best rate [ a penny difference on a million = $20,000.00 ] , and you'll have tax issues . . . if you've only held your notes for under a yr the capital gains tax is approx. 35% / over a year its approx. 15% . . .

Adster has a good piece on this under *cashing-in* page one with a bit of humr . . .

Take my advise . . . get advise first . . .

RollsRoyce.. getting the prioritys lined up is tricky... we"ll need legal advisors,
but also as its been stated.. it could flucuate up and down.. one thought has been it might float up quickly but another that it might go down after the initial opening due to exchanging.. so what do you think is the wisest move.. exchange abit and sit and wait for it to level out to exchange more? I know everyone will have their own plan... I just am trying to figure out what is the most logical thing we could do.. please don't hesitate (anyone) to give personal opinons I would just like to see other peoples reasoning on this?
thanks ez

Hey Monica,

It won't take long at all for the floating dinar (if that's how they do it) to increase in value..probably it would show a daily increase, I think Adster once stated that if they brought it in low it could realistically go up to 1.60 within just a few days. I guess we'll find out!

Most of the advice has been for those in the USA, is there any advice on cashing in & banking here in Europe ?

eg: Off Shore etc.

Originally Posted by laurenr

Most of the advice has been for those in the USA, is there any advice on cashing in & banking here in Europe ?

eg: Off Shore etc.

That's what I would like to know, too. Malta is a very small country, though part of the EU. I have checked the website of all major banks over here, including HSBC, and they don't list the Dinar yet. I hope that is going to change on Monday. Maybe I will have to go to the Central Bank of Malta.

But if neccessary I am also prepared to take a little trip to cash in. I love travelling anyway...

To those who have purchased dinar from Chase banks - What exactly is the process? Do I go up to the regular ol' tellers to place my order, or do I need to speak to someone who specifically handles foreign currency?

I sold my electric guitar and my bass guitar for some extra dough yesterday, and want to go ahead and place an order today for Dinar through Chase, but not sure who I need to talk to.

Thanks in advance for all who answer...