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.
Right now I have tubes of SAE's and I'm building to a particular number (no rhyme or reason) of 90% coins (halves, quarters and dimes only) and also getting rounds and 1 oz and 5 oz bars from known processors.
I have very, very few 'odd' rounds; they're all .999 but not... "Reply To: Silver Eagles versus Rounds
" I hunted a bit last winter, 50 cent piece's, second roll scored a 1908...NICE. Kind of gotten away from it but need to start again.
If you don't know, open the roll, look for the one or two coins with a full silver band - that's your jackpot coin. Much faster than checking dates. "Reply To: Questions about coin roll hunting in the US
As we know that gold is always in the demand and the price of the Gold is totally depends on the demand and supply. If you are thinking to make an investment in the Gold then this is a very good opportunity because art this time the price of the Gold is very low and a... "Reply To: How much should I invest in gold?
" Since there was no danger of the earth being struck by Comet ISON, and there was nothing saying we would pass through the tail - how can we now pass through the debris path? Is there a link you can point us towards?
I firmly believe that if and when the earth is struck by a large ce... "Reply To: COMET ISON – OCT 7
The analysis and discussion provided on SilverDoctors is for your education and entertainment only, it is not recommended for trading purposes. The Doc is not an investment adviser and information obtained here should not be taken for professional investment advice. The commentary on SilverDoctors reflects the opinions of The Doc and other contributing authors. Your own due diligence is recommended before buying or selling any investments, securities, or precious metals. We do not share in your profits, and thus will not take responsibility for your losses as well.