I had a Russian friend in college. He gave me what seemed to be quite a few Rubles (bills and coins). I asked him how much it is worth, and he said I could probably get a big mac with it. I tucked the money in a drawer (in 1996) and a few years ago I thought about them. I looked up the exchange rate and I couldn't believe my eyes. It was over a grand! Looking further into it - Russia changed their Rubles. Mine were now worth practically nothing I still have them just to have them. They are pretty neat to look at.
Well shoot! I'm assuming he gave it to you AFTER it had lost value though, right? If that's the case it's not so bad.
I received the rubles in 1996, before they lost value. The ruble was rebased on January 1, 1998, with one new ruble equaling 1,000 old rubles. So, let's say I had 15,000 old rubles (I don't remember the exact amount at the moment). It now equals 15 rubles. I'll save them, and maybe, just maybe, they may increase in value...who knows?
Hey, yooperchick, I know how you feel. When I was 12 I visited my uncle who had retired in Mexico and came back with some leftover pesos that was worth about $20 then. Now it's worth about 2 cents. I guess we just have to be glad we don't live in a country where devaluation can be so drastic. I can't imagine one day having to sell my clunker of a car for $200 when the week before it was the equivalent of $2000. I've hung onto the foreign money too. It's cool sometimes to take it out and then look at the stuff I brought back from Mexico that I got for what is now pennies that is still pretty nice stuff that some of my friends wish they had.
Just don't get into the stock market then.. That kind of drop happens quite frequently if you ride the shaky stocks..
Thanks for the advice. I'm just out of college and in my first real job, so it'll be a while before I really get into the stock market. However, my dad made a lot of money on it, but really drilled into me that you have to be in it for the long term and not get freaked out and sell if stocks drop ... isn't there some kind of statistic or fact that overall, the stock market has been the best way to earn money in investing of any of the options in the last century? Thought I learned that in an econ course I took, but I might be wrong.
I saw on eBay that a guy was selling $2,000.00 in several packs of $2.00 bills of 2003, he was asking " buy it now" $2,500.00 for them, he mentioned that these packs were never opened, consecutive numbers and that these $2.00 bills were extremely rare, therefore this auction was unique.... some one end on buying these packs!... what a good investment... 25% in about two years...:-o
