Ok, so im cleaning out a closet last night and what do i come across?? 2 Million in iraqi Dinar..LOL…I bought them 7 years ago thinking i would become a millionaire…Yes, pathetic i know….Anyway, the website i bought them from, safedinar.com, currently has a buy price of about $850 per million so i can sell them right now for about $1700…Should i sell them and grab 50 oz’s of silver, invest it elsewhere…etc.. or just hold on to it?? Of course i know the chances of the dinar getting revalued is about a gazillion to 1 but Im thinking since they were sitting in a closet for 7 years and i had forgotton about them anyway, i mind as well just throw them back in the closet for another 7 years and see what happens…Any thoughts?? As always, your input is greatly appreciated…Thanks in advance
If I were you, then I would use them to buy some gold since buying an ounce of it at once is very hard because it is expensive. As for silver, it is very easy to buy it fast especially when it is at about 32.25$ per ounce. So, I would recommend you to get rid of all paper currencies because they will lose values overtime due to inflation. Also, congratulation at finding two millions lol!
After the re-Val, your 2 million becomes 2 Thousand, but SAME VALUE ($1700 USD) Provided the currencies do not move relative to one another. Further obstacles to a big gain, is that the IQD is currently 100% backed by ~$67Billion USD. So, appreciation against the USD is unlikely, until other “world monies” start pouring into Iraq.
If it went back near where it was before, relative to USD, you might get about $5000 for your 2 Million IQD.
And, I also predict that there will be a “window of opportunity” to redeem the Big Zeros (IQD) for the No Zeros (IQD) so I would sell them now, and buy Silver or something else of value. Like (G&A) lol! Guns and Ammunition.
Here’s an idea for you. If it really is found money and you really don’t care, buy a 3X levered ETN like USLV. Catch the silver moonshot and before the system crashes cash out and get into a hard asset. Don’t try to catch the entire moonshot. Get out 80% from the top while the getting is good. Timing will be tricky. But, since it’s found money what’s the worse that can happen. Just a crazy thought from an old dog.
Currently, I have no more cash to spend on enhancing my stack. However, if I happened to find a ‘windfall’ at the back of a wardrobe, I would spend it on a readymade portfolio of junior miners, such as one of the mining ETFs that have been lagging of late. When gold and silver do take off, I would expect the junior miners to go crazy. Rick Rule isn’t an idiot.
Buying an ETF spreads the risk over a number of junior producers in a number of different countries. If I had a couple of grand right now to play with, that’s where I would be playing.
Hardcore stackers may disagree with me, but I believe it doesn’t hurt to diversify a little.
" To see if someone else posted about it already so I wouldn't be double posting.
I'm not polluting the forums. I didn't threadjack and I'm not thread spamming. I wrote my own thoughts and included relevant information in my own thread.
How about taking an objective look at your ... "Reply To: Welcome To The Silver Forum
" Why I like dimes and quarters, not many counterfeits showing up yet. The few that are here tend to be key date in a slab coins that I have zero interest in. And a fake dime rings wrong when dropped "Reply To: How off the mark am I? Or am I?
" I'm curious if anybody thinks the fact that mint coins have a face value is a benefit when transporting them across borders? (eg: Are you transporting more than $10,000 in currency? Nope, currency value is xxx)
I also find the idea that the mint should defend against counterfeiters since it ... "Reply To: How off the mark am I? Or am I?
" Xizang, that's why I included the word 'circulated.' Every single circulated coin has its own unique wear, while the chinese fakes are new.
I would not trust any graded coin in an NGC, PCGS or other holder - THESE are being faked in china also. At least with a loose coin you can weigh it and... "Reply To: How off the mark am I? Or am I?
" hi KLAMMERN!
Welcome to SD.
Tons of good advice in here, but I'd just add this:
Don't get too caught up in SELLING Silver, as in move a large amount of stack in hopes of buying
more, as the price could jump in the interim. But trading up is a safe deal. It can be done as oth... "Reply To: How off the mark am I? Or am I?
She does deserve it, thats a fact. I have come up with a plan. Ordinarily I wouldnt discuss this, but I think i hit on a good one. A new bathroom vanity has about 3" of space under the interior of the... "Reply To: What the hell do I do with it
" "Which is the better deal? One full ounce of pure silver – or only .77 ounce of silver mixed with copper? Gee, don’t take too long thinking on that one."
I would be suspicious of fake Mint coins and would have more faith in a circu... "Reply To: How off the mark am I? Or am I?
" Use a core drill to make holes in your wooden bedposts. Fill the holes using part of your silver stash, and then put a stained wooden plug in the opening. No burglar would even think of looking there.
And as an added benefit, when you are giving the Missus the nightly pounding she ... "Reply To: What the hell do I do with it
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