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Cold Sea

Gold Rules

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Noticed a 1kg gold centenary medallion listed by the ANC as a buy now for a cool R1 122 000.00. With 32 ounces of gold at R13 000.00 per ounce, that turns a decent profit of R700 000.00

 

Bet that won't end up in a museum.

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It is good to have some money in gold.... but I doubt that the listed ANC medallions will sell at such high prices.

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What value FIAT?

 

Hi Cold Sea

 

I bought a 50 acre farm at Champagne Castle in 1980 for R20,000. My point? Everything is relative... the impact of inflation on FIAT funny money has been dramatic on all currencies - but none more so than in Africa.. Look at the Zim$ and the fact that the rand was once on parity with the US$...

 

The only surprise is that gold today is not five times what it is in the paper price.. and silver at least ten.

 

THE BOTTOM LINE: Physical gold and silver RETAIN their value over the long term.

 

And no I wouldn't donate a brass bean to a S African museum .. including the once famous Africana Museum in JHBG which just appears to have disappeared...

 

Kind regards

 

Scott Balson

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