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.
If those beams are tight grained Douglas Fir, old growth, they are excellent for musical insturments and worth far more than my previous estimate. A cabnit maker will also pay top dollar for them, as will a woo... "Reply To: All my generic….gone.
" Mammoth - buying online for all my SAE's. Ebay for 90% when it's a REALLY good deal. About the only FTF stuff I can find around me is Craigslist and I found that to a real P.I.T.A. (they say they want to sell but then have no desire to meet with you or the want spot and then some) so I've been... "Reply To: All my generic….gone.
" PMG - I am a big fan of Peace & Morgan silver dollars. Yes their premium is high for the amount of silver they contain, but they are very desirable among both collectors as well as many stackers.
In a SHTF scenario, I believe that a silver dollar will purchase far more than say, four pre-... "Reply To: All my generic….gone.
" @ Mammoth
Get those beams, paint or no paint. estimated value $300.00 each
In my opinion Silver dollars sell for way too much over spot, at least around here.
In the general market place, Morgans are collected by more people. yet they out number Peac... "Reply To: All my generic….gone.
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