Thread: Cashing in, please read.

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

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!

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

Originally Posted by Lunar

Banks will issue a receipt but most don't list serial numbers on the receipts, just denominations, amounts and totals.
The BoL is a shipping document and provides space for itemized listing (for serial numbers, amounts, etc) and it can be completed before you go into the bank.
This way you have protection against theft and the itemized serial numbers will discourage anyone from trying to switch your IQD for counterfeit bills.

So, does anyone have an arabic serial number to english translator? Or would making copies of your dinar be enough to cya?

I'm a Realtor. We routinely photocopy the bills of a cash deposit. We copy them a few bills at a time, fanned out so that the serial numbers show. I'm sure that would do for your purposes.

Originally Posted by greatstuff

I'm a Realtor. We routinely photocopy the bills of a cash deposit. We copy them a few bills at a time, fanned out so that the serial numbers show. I'm sure that would do for your purposes.

That too is sound advice. Anything that can be done to protect yourself is a safe move...I'd rather do too much than not enough. No time for regrets later...

Hi,

What I will do when it comes to cashing in my dinar would be easy for me to live with I guess. I hold 500,000 in dinar, given the price I paid for my investment it wouldn't take much to be in the profit. (my well duh statement lol) I will cash in no more than half of my holding depending on the price and such and hold the rest to see where it goes in the future. I would really hate to cash it all out and have it float up to say $3.00 and have none to cash in then. Most of my dinar falls in the long term investment so I will figure out the taxs as needed.

I read a post some where here that "normal" people like us will not hurt the value and they can cover things now. Now when it comes to a counrty cashing out like USA or China would be what causes the value to crash.

kevin