Independent
Thinks s/he gets paid by the post
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Gold was not always this expensive. Its price was only $19/oz up until 1931. Then, it rose to $35/oz and stayed there until 1967.
So, assuming this man accumulated all of his stash at the price of $35/oz instead of higher prices between then and the current price of $1700/oz, his pile would have cost only
$7M X $35 / $1700 = $144K.
However, due to inflation the $144K in 1967 would be worth $992K now. So, even when gold was cheap, he did have some good income to buy it back then.
The reason the price stayed at $35/oz was that US citizens couldn't own gold coins. The the $35 was just used for international settlements.
If I read this correctly, he couldn't legally buy gold coins until Dec 1974.
Executive Order 6102 - Wikipedia, the free encyclopedia