The question about such a huge purchase is, why would Iraq be buying that much gold? There is a line item in the Central Bank Of Iraq's report on Key Financial Indicators that indicates the purchase of gold and SDR's. They're adding this amount to an already large stash of 726 billion Dinars worth of gold. With gold coming in at $1210 an ounce at the time of this post, that would give Iraq a handsome $223 million in profit. But the bigger question is, what are they doing with that much gold?

The speculation is that they may be doing it to distance themselves from the ever unstable and at the present time, falling value of the dollar. We know that last year, Iraq wanted to switch all of its gold reserves held in Federal Reserve Banks in the United States from what is based on US dollars to Euros. However, the Fed wouldn't let them, more than likely because of the show of a perceived lack of confidence in the US dollar.

Isn't that funny, the US dollar is tanking because of the completely irresponsible spending by government leaders, both Democrat and Republican for decades and financial institutions in the United States, and they have the audacity to tell Iraq it can't do what it wants with its own money.

Another irony is that while the country of Iraq is still struggling to have some sort of a lasting peace and get rid of radicals it is trying financially to create more stability by investing in gold and we won't let them. What an arrogant policy the US has against a country trying to come to grips with stability.

Do we want Iraq to be stable financially or not. I wonder how much more gold Iraq will try to buy as the dollar slips further?

However, after scouring eBay and other sources, there seems to be little Iraq gold available anywhere. Maybe that's due to the fact that it is extremely hard to get it out of the country because Iraq itself obviously needs the gold or maybe there are other factors I'm not aware of.

As far as old Iraqi coins or even modern Iraq coins, they are equally hard to find. There are a few Iraq 25, 50 and 250 FILS coins available, but they are in quite limited quantities. At the present time of this posting there are only 45 listings for Iraqi coins that include silver dinars, 25 FILS Palm Tree coins, and a few coins left over from the era of Saddam Hussein.

Gold Coin Investing

If you are interested in buying Iraq gold maybe you should consider buying other gold coins since they are in a much bigger supply. There are many thousands of US gold coins available on eBay, from local dealer shows and from many different websites in the net. One of he more popular investment coins that people like is the St Gaudens $20 Double Eagle minted from 1907 to 1933. These cons contain one ounce of high quality gold plus they have a numismatic value above that of the price of gold. Some rarer specimens bring exceedingly high prices fr enough above the current gold price that it is not even a factor in their value.

You can also find gold bullion examples such as the Gold Krugerrand from South Africa that are much more in line with the current value of gold. They are a great investment for those that want something which closely follows the current markets. And since they are so popular, they are easy to sell when you are ready to cash your in.