$7000...What should I buy with it?

rainbowquarters

My credit card company sent me a check for $7000 with no interest till August 2005.

Now, what kind of coins should I buy with it? I can only purchase coins, no IRA's, no money markets, no other investments, except coins. Suggestions?

billboat

Dang!! I knew I should have spent all those checks my credit card sent me on coins instead of shredding them!!

DominusDeus

You should buy me a Western Union money order for $7,000.

That'd get me a few nice coins, as well as pay off college. Plus gas money.

goose3

a Key date of anything.

clackamas

Are planning on selling the coin next year to pay off the $7K and pocket the difference?

mgoodm3

I'd buy 300 lots of coins on Ebay from a giant US coin collection, guaranteed unsearched. Every ten orders gets you a peace dollar!

dan1ecu

Tear up the check! If you buy a $7000 coin, you'll end up paying a lot more than $7000 when all's said and done. Those credit card companies are ruthless when it comes to tempting people with easy credit!

Bear

Please listen to Dan. He knows of what he speaks.

Credit card money is always a bad investment.

LincolnCentMan

I've done that before. I didnt make or lose any money. I did get to own a really nice 14-D in PCGS MS65BN for almost a year, though. If you do this, realize there are real risks involved. If your late on ONE payment, your intrest rate will jump to over 20%.... and will no longer be intrest free. You can lose, big time, if you do it wrong.

That being said... I'd pick the 1893-S dollar in VF to XF.

David

Catch22

I have a Buffalo nickel that has the Buffalo pointing in the wrong direction I'll sell ya for 7k. You may be familiar with the coin, it was featured on one of the episodes of the Andy Griffith Show.

tjkillian

Listen to Dan, tear up the checks completely, or better yet, shred them. As a general rule, you should not buy coins on borrowed money.

Tom

Elcontador

Excepting the bills I receive from the one company whose credit card I use, everything else I receive from all credit card companies goes into the shredder, unopened. Caveat emptor.

TonedCoinTrader

Buy as Many Toned Morgans as you CAN!!!



j/k tear it up and buy coins with the money you have.

Scott

MadMonk

Tear it in half!!!

coinguy89

Yeah, I'll agree it doesn't sound right, but im alittle confused with it.

shylock

Now, what kind of coins should I buy with it?

Undergraded ones! Seriously -- and not meant to sound like a wise guy -- if you have to ask this question you really should rip it up.

If you posed this question as "I have 7K to spend only on coins" Goose3's suggestion is the safest way to go. He's done very well by following that simple game plan.

nucklehead

Maybe the finest Lincoln 55 DDO you can get your hands on.

aem4162

tear the check up unless it could maybe be used for something important like a home repair, car repair, doctor bill, or meds.

Coinosaurus

Don't buy coins on credit. Even with no interest. Just say no

atarian

i would say buy a 85 monte ss , an atari system with asteroids and pac man , and a 30 pack of coors light. and be set for a very happy week. also if you snuck afew coins in with the 4000$ pocket change like a high grade 1914 D 1 cent . wouldnt hurt

Bikingnut

32D Washington or several of the semi keys in the Washington series.

pursuitofliberty

Unless you are ABSOLUTELY sure you can religiously pay the CC back $600. a month for the next YEAR, without affecting your lifestyle ... RIP IT UP!

Otherwise, you could go on the hunt for a few really cool coins ... with 7k, my personal list would include about three or four coins I might not stretch for otherwise.

BigE

Don, didn't you just sell your set of Booker T's?, just but the 7K with the proceeds and buy some beachfront property or a couple of 67 Carvers-------------BigE

LanLord

I side with the "tear it up" crowd

Credit is the true great satan

topstuf

7000 Sacagawea dollars. Put em on RED. My analysis chart says that RED is underbet right now and due for a correction.

MS68

You have Jack Schitt. Tear it up before you do something foolish.

msch1man

Ask yourself the following question first...absent the 7K check from the credit card co. would you spend 7K on coins between now and August 2005? If the answer is yes, then by all means, take advantage of the 0%. If no, tear up the check. I personally use 0% offers to my advantage whenever possible, but it is always for something that I would buy regardless of whether or not the 0% offer existed. For example, I bought a bigscreen TV for $2500 a couple of years ago. I had the $2500 to spend regardless of the 0% offer, but I took advantage of it and kept the $2500 in my money market account to earn me 2.15% interest over the next 12 months, then wrote a check for $2500 and paid it off in full. The thing is, I would have bought the TV with or without the offer, it was just a nice way to earn interest on $$ that I otherwise would have spent. If you've got 7K to spend on a coin tomorrow, then take advantage of it, but read the fine print.
Me personally, if I had 7K to spend on a coin, you could bet I'd be writing a check for a PQ MS-64 $3 gold type coin...unfortunately, I don't have 7K, so my most recent check has been written for a PQ AU-55 $3 gold type coin.

Wondo

XF Flowing hair dollar!!

Lakesammman

Someone will loan you 7K interest free for a year?? You'd be crazy to pass it up. Where do I get a deal like that?? At the very least, invest it in something guaranteed (savings, etc). Or pay down existing debt - you can always draw on it later. Buy a key date. Better yet, buy a coin from me!

Option1

Find a small dealer who's hard up for money and bring in cash. Then see what you can find. Or you can hang around till someone brings something to sell the dealer, you'll be there to help the broke dealer.