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.
" Store a radio in a steel container, make sure to bubble wrap it for insulation. Stick it in the attic, garage, wherever as a spare in case of confiscation. I have an old Drake tube rig I am restoring that will be mostly EMP proof "Reply To: Ham radio
" Nice Shootin' TEX!
I am thinking avoid the ASE's (I have some) as they are prolly tracked by Big Bro... at least the bulk purchases, as I started out with. But that went down in Lake Monroe, stupid of me to take the stack with me on vacation! You are best off buying with cash, and junk is usua... "Reply To: EBAY: ASE's at 40% PREMIUM
Call it a Petit Mal, mild stroke, or just a temporary lapse of sanity, but I went against my junk coin roots last night. Earlier, I had stated my preference for junk. This remains true to this day, but last night I purchase some silver from Apmex that in no way can be considered junk:
... "Reply To: EBAY: ASE's at 40% PREMIUM
" I feel ya Mary. My average buying cost is around $30....Although as you said, I still believe in all the fundamentals, and where silver SHOULD be, its hard not to get discouraged at WHERE IT ACTUALLY IS!
"200 years from now your silver will still be valuable."
Statements like this absolutel... "Reply To: My Faith in Silver is Just About Broken
" LOL, it was a free non sanctioned test. Just wanted to see how much I already knew. Learning curve should be a piece of cake.
Things I have been wondering though are whether the gov would shut down those frequencies in a SHTF scenario. No point in heading in that direction if it's a lost ca... "Reply To: Ham radio
" The error I see stackers making is the value of their stash in fiat. Fiat that is rapidly losing any purchasing power and is losing its usefulness. Price your stack in real world goods to see how you are doing. $4 silver years ago bought 8-16 gallons of gas, $21 silver still buys 8 gallons of gas... "Reply To: My Faith in Silver is Just About Broken
" There are many ways to view this one way is insurance, you pay for policies don't you? I hope my home never get blown away in a storm but if it does I have a policy to cover it. I like insurance, it's not always cheap but I sleep better at night knowing I have it. "Reply To: My Faith in Silver is Just About Broken
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.