Gold in the News

[audigger53]

https://www.yahoo.com/news/m/2f437b...3ecd43f9b/ss_american-with-121-pounds-of.html

Ah for the rest of the story, where did he get it?

 

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[Jason in Enid]

somebody cant do math. 121 pounds of gold would be worth 2.2 million!

 

[audigger53]

Actually at todays spot price, if it was not Troy weight, then is would be 1,954,260 minus the 3% to sell it of course. But it is still a nice amount "IF" he had been able to get it out of the country.

 

[Jason in Enid]

Actually at todays spot price, if it was not Troy weight, then is would be 1,954,260 minus the 3% to sell it of course. But it is still a nice amount "IF" he had been able to get it out of the country.

hmmm, I assumed they measured the weight as a standard avoirdupois pound, so I converted that to troy ounce and then calculated by spot price.

 

[audigger53]

I used a conversion of 14.58 Oz Troy for an avoirdupois pound. 14.58 times 121 LB times the spot price of $1250. I could be wrong but I used that figure for years looking for a large amount. Haven't found it yet, sorry to say, but still looking.

 

[Jason in Enid]

I used a conversion of 14.58 Oz Troy for an avoirdupois pound. 14.58 times 121 LB times the spot price of $1250. I could be wrong but I used that figure for years looking for a large amount. Haven't found it yet, sorry to say, but still looking.

yep, that gives us 1764 troy ounces X $1250 an ounce = $2,205,000

Of course, all this is purely academic for us. I'll never see that much gold in my life!