Guessing the value. Contest results.

in #gold2 years ago

Last week I asked "How much is this little brick worth?"

I mean, how much in U.S. dollars, the ones that are commonly used to pay for things like gas and lunch, not real dollars.

One would have to guess the weight of the gold, then figure out what the published going rate is for that gold. You all had a size comparison last post but gold is deceivingly heavy.

I offered 10 SBD and only got two results.

First, this bar weighs 500 grams or half a kilo. I tried to erase the "500" that was written on it in permanent marker.

Second, the published rate for a kilo on the day of my last post was $39,850 per kilo, so the answer to the #contest would be that the bar is valued at $19,925 - nearly double that of the stack of Federal Reserve Notes shown in the last post.

Congrats to @youdontsay who was not even close - but was the closest.


Next post, "Real Dollars"

In real dollars, this same gold is worth only $1,351

What's a real dollar? Clue, nothing to do with debt. Money doesn't really change in value that much, but FIAT currencies do. This bar would buy a new car 25, 50, or 100 years ago and it still buys a new car today.

Stay with anything metal- better than just plain paper.

Cheers

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Haha yes!! I was thinking it was a kilo, but since I've never seen more than an ounce of gold in my life I'm not surprised I was way off. It's a good thing we weren't playing Price is Right rules! Thanks for following through with the prize

They are bars that are little devalued, they maintain their value a lot, very interesting comparisons.

I think he could not have guessed, even closely, the value and weight of that gold bullion. In my life I've seen one ... The good thing about metal pieces like gold, is that never or almost never, at least I've never heard them devalue, these pieces increase their value over time. Thanks for sharing the information

I wish you had participated!

No, they do not increase in value over time. They hold the same value.

Your statement, in reality, is that you can sell gold for more pieces of worthless paper over time. The outrageous scam is that governments will charge you tax on the imaginary gains you achieved over time.

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