I’m just not seeing why this is a good investment, unless one is betting on inflation rising a fair bit above current levels. That may happen. But my ability to predict inflation is about as poor as my ability to predict hot stocks, market downturns, interest rates, or many other things.
I have a mental block with paying more than par. If I invest $103,000 I want to know I’m going to get that $103,000 back. With hopefully some decent interest. Don’t want to invest $103,000 with the promise of only getting back $100,000 and the hope of more.