hi everyone, While going through some stuff that belonged to my grandfather I came across what looks like an italian strip bond that has apparently matured in 1935 with an interest rate of 5% - This bond has an amount of 1000 Lire printed on the front. Does anyone here know much about these bonds or might be able to steer me to someone that does?? Thanks, Sal
1000 lire is not even worth .50 in American money. I do know that.... I think that there are something like 1600 lire per dollar.
Butch, Thanks for checking this for me. I realize Lire isn't worth much, but I was assuming the interest kept accuring, so it might add up to something. Do you know much about these types of bond instraments? -Sal
Today it's worth about 29,000 lire. 1.00 ITL Italy Lire (obsolete) = 0.000501635 USD United States Dollars 1 ITL = 0.000501635 USD 1 USD = 1,993.48 ITL So, 29,000 X .000501635 ____________ 14.54 USD $14.50 BTW - You'd be paid in Euro's. On January 1, 1999, eleven of the countries in the European Economic and Monetary Union (EMU) decided to give up their own currencies and adopt the new Euro (EUR) currency: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. Greece followed suit on January 1, 2001. The Vatican City is also participating in the changeover. This changeover is now complete. Euro bank notes and coins began circulating in the above countries on January 1, 2002. At that time, all transactions in those countries were valued in Euro, and the "old" notes and coins of these countries were gradually withdrawn from circulation.
Yes - But all I really need to know is that Bonds are so HORRIFYING an investment, every time I see someone who has them we cash them in and put the proceeds into a Mutual Fund. Unless their a rich old lady of course. lol
Butch, I'm sure you'd agree that bonds bought for 6 months, charged on a mileage-accruing credit card and revolving @ 0% APR are an excellent investment. Saar
We've all been thru this before and never reached a general agreement. You may be right but you'd need to be talking VOLUME to make it worth it. I do know people who'd spend 40 hrs. of their time to make $20.
My aim is not to reach a concensus, but to discuss an issue. If you have a few $$$$ to revolve every 6 months on bonds, you won't have to pay so much for your vacations. For instance, Caesars Palace charges $500 for a specific date that I want. I can settle for a lesser hotel, or I can spend a few thousand Dollars on bonds, get an interest MUCH higher than any CD, an investment solid as a rock, and a free night that would otherwise cost me $500. All that using money that's not even mine. Saar
Saar, I've been following this thread: http://www.fatwallet.com/forums/messageview.cfm?catid=52&threadid=82737 which describes using patriot bonds, given the present interest rates, for cash holding, flipping cc's, maximizing short-term interest rate potentials, and accumulating credit rewards -- interesting it is! I believe it was Marie that previously posted here that you can buy patriot bonds, hmmmm there's another type too, the name is escaping me though, online using a credit card. I'll dig up the purchasing link if you need it. Going from memory, I believe the smallest denomination available is $25.00 and the maximum $1,000.00. For me on a mission to re-establish credit, I'm hard pressed to think of any better use of my available credit except for regular monthly bills. Sassy Editing to add: Savings Bonds direct: http://www.savingsbonds.gov/ols/olshome.htm Marie's previous post: http://consumers.creditnet.com/straighttalk/board/showthread.php?threadid=25530
Sorry Saar, I see that you responded to the previous thread and already know more about the option than I could ever provide, LOL. I do hope you find the other thread interesting, it in fact, has several linked off-shooting threads detailing just what you have described. As I am understanding their flipping technique and associated timeframes, given present interest rates, even when not holding the bonds for 5 years, the interest returned is still higher than anything else available for the security of cash holdings. Sassy
Thanks Sassy. My comment was not meant to say Butch was wrong. If we ignore the special BT APR's offered by various credit card issuers, or the benefits of using rewards cards to accrue points/mileage, we're left with "pure" investment considerations. Those are Butch's territory, he does that for a living, while for me it's not even a hobby. Hey Butch, if I hire you, do I get a CN discount? Saar
How about this idea? Perhaps the bond might be worth more as an historical antiquity? It is in good shape? Check on Ebay to see what bond documents are fetching, or take it to a stamp/document collector. Of course make sure you know what the bond is worth as a bond first. I suspect that post WWII Italy probably capped their liability on un-redeemed bonds. I doubt you are going to get 70 years worth of compounding interest. If it helps, I am dating an Italian girl right now. She speaks Italian at home with her family. She can translate for me. OT: Have you heard the urban myth about the man who finds a US Civil War Bond that compounds, and is now worth more that the US Treasury has in reserve?
If it really is worth only 14 or so... you might consider framing it and keeping it for sentimental value... or else... Ebay... great minds think alike
I would look into some people who collect things like old war bonds or coins. the value in that could be worth more than 14 dollars. If you go to a coin collector or document collector, it could be worth some big dollars to someone. the letter "dear virgina, yes there is a santa clause" is worth close to, i could be wrong, $50,000.00 if there is something out there, there is always someone who collects it.....
