Tuesday, February 20th, 2018

Confessions of a closet goldbug


I might as well ‘fess up. It’s the glitter that gets me. Like that fraud on TV, I just like the heavy feel of a fistful of gold coins. I wish I had more of ’em. I wish I had the Midas touch, except perhaps when reading Acts 20:33. I remember, back in the 1980s, buying gold coins and watching their price skyrocket to about $800/Oz. (Please don’t check me on that price; my memory isn’t too reliable.) Then the price dropped like a rock and stayed there year after year. Clever poker player that I am, I doubled down on every price correction.

Fast-forward to 2002, a couple of decades later. Gold was still trading at only $250/Oz. But stupidity is sometimes rewarded, as it turns out. Now people are belly-aching about a 16% price correction from $1,700/Oz.. This chart places periodic gold price corrections in perspective, it does.

Gold prices

Okay, enough letting the Krugerrands slip through my fingers. I’m putting them back with my stored food and ammunition and forgetting about them for another 20 years.

Dave, wondering now about my penny collection.


2 Responses to “Confessions of a closet goldbug”
  1. Leslie says:

    Ammunition?? Btw you won’t find much stored food left – we ate all the dried apples and good stuff years and years ago. :-). Unless you stocked up again for Y2K…

  2. linda says:

    Your penny collection? Do tell. and I second Leslie’s “Ammunition”? ? Perhaps the dried peas are still there…

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