Iraqi dinar is now selling at 1,460 to $1; the good news is the trade in dinars is thriving on the Internet:
Internet auctioneer eBay, for example, lists 622 auctions of new Iraqi dinars, in lots from 1,000 to 5 million. Dozens of Web sites, such as www.BuyDinarsHere.com, www.DinarTrade.com and www.InvestInDinar.com, sell dinars to U.S. investors."
The lure: Investors remember that the Kuwaiti dinar plunged to 10 cents after Iraq invaded Kuwait. It's worth $3.39 now. The Iraqi dinar sold for as much as $3 before the first Gulf War.
And Iraq sits on the world's second-largest oil reserves, an enormous asset. "Even if it goes up to one penny per dinar, that's a lot of money," says Mahmoud Shalabi, president of SilverDinar.com. Currently, a 250,000-dinar note is worth about $171. At a penny per dinar, the same note would be worth $2,500.
Sounds like a good investment to me!
Update: Truck and Barter has an excellent series on this.