One million dollar coin sold for 2.6 million pounds

[RCA]

http://news.bbc.co.uk/2/hi/world/europe/10425194.stm

- Coin is bigger than a 350z wheel.
- It weights 220lbs
- In Guiness' Book of World Records for being world's largest gold coin.
- Face value of $1,000,000 but has $4,000,000 worth of gold.

I want it.

[tigersharkdude]

currently one ounce is worth $1251.23 an ounce
x16 ounces
x220 lbs
=$4,405,667.20

looks like they made at least $400,000

[JimmyMethod]

[RCA]

http://www.dailymail.co.uk/news/worldne ... 2-68m.html





Gorgeous !!

[numbnuts240]

canadian currency? ewwww

[MellowZ32]

2 million pounds of what?

[Jesda]

2 million pounds of what?

[ProudNissanFreak]

2 million pounds of what?

Maple Syrup

[Infinitiguy19]

[themadscientist]

I prefer a fistful of the pocketable type of maples.



Inflation is coming kids, PMs can potentially be a safer store of value. Think about it and CYA as much as you feel is prudent.
As much as I love gold, my heart bleeds silver. I think it has more potential for growth than gold in the coming years, but that is my opinion, dyodd.
I also couldn't beat anyone to death with my gold but I could defend my stack with my silver.

[HashiriyaS14]

Tempted as I am to buy PM's because they're shiny, they're a relatively poor way of hedging against inflation, or dollar devaluation, or really anything else.

If you want to hedge against inflation, buy TIPS (Treasury Inflation Protected Securities). Unlike gold you won't be buying them at bubble prices, and they provide an actual return rather than just sitting around.

If you want to hedge against the dollar AND inflation, buy a combination of inflation-protected bonds denominated in assorted foreign currencies.


PM's really only make sense if you're banking on Armageddon and you think that *all* fiat currencies are on their way out, in which case you might be nuts. I still like them for the same reason I like (and collect) gems, because they're cool looking and fun to own, but they aren't a real inflation hedge. Furthermore, if you think the apocalypse is coming, don't buy gold, buy 7.62mm ammo.

[themadscientist]

I am watching for a summer drop. Prices are somewhat influenced by panic at the moment in my opinion.
I expect a short period of delusion where the government says "we are coming out the recession" people drinking the koolaid for a month or two causing the dollar to rise.
Going into fall the second dip of this recession should start in earnest and then the real upshot for PMs should kick off. I plan to snatch up as much as I can right before this.

Again,
this is based purely on my own analysis of world and American economic indicators and basic common sense. Decide for yourself where you think we are headed and plan accordingly. My expectations are for a complete collapse of the monetary systems of Europe and America withing two years, the uncoupling of Chinese currency rates, Russia reasserting itself economically, and a rush to acquire hard assets worldwide. Money is just paper and a promise. When the promise is no longer valuable, neither is the paper.

The rich are already doing what I am doing, that merely reinforces my theories. I wish everyone good fortune in their financial planning. Ultimately, I hope I am wrong because the future I see is so scary I would rather fail than see our world fail.

[Jesda]

DID SOMEONE SAY FIAT

[HashiriyaS14]

DID SOMEONE SAY FIAT

Image fail.

Which is a shame, because I like Fiats.




Anyway, I'm definitely not counting on the collapse of the Western monetary system, although I do have some assets denominated in Yuan. I think US Treasury TIPS will serve my purposes just fine though, on the balance. IF there is a second dip, the dollar should fare better, because any second dip will be due to Euro troubles, not ours (i.e. overleveraged governments).

[numbnuts240]

DID SOMEONE SAY FIAT

Image fail.

Which is a shame, because I like Fiats.

works for me

[Looneybomber]

Furthermore, if you think the apocalypse is coming, don't buy gold, buy 7.62mm ammo.

Agree'd. I don't own any gold, but I do have >2000rds of 7.62.

[MinisterofDOOM]

2 million pounds of what?

US pennies. And someone gets to count them.

[PoorManQ45]

Furthermore, if you think the apocalypse is coming, don't buy gold, buy 7.62mm ammo.

Agree'd. I don't own any gold, but I do have >2000rds of 7.62.

Agreed. I find it funny when people talk about buying precious metals for SHTF situations. Like gold will be useful when you have no government...

[MellowZ32]

2 million pounds of what?

US pennies. And someone gets to count them.

pay with pennies? who does taht?!

[s0m3th1ngAZ]

24 hours of lemons gives prize money in the form of nickels...
Two things to stock up on for the End of Days...Ammo and Whiskey.
Both can be used as a bartering source or a way to kill someone or something.

[alms24sebring]

Ehh a coin that big is worthless to me. You can't spend it. If I could, I would be a d!ck about it and buy a pack of gum and expect millions in change. Atleast that way I would get rid if it. Or I would melt it and make a 99.999% pure gold turbo kit out of it.. that's ballin y0

[Jesda]

DID SOMEONE SAY FIAT

Image fail.

Which is a shame, because I like Fiats.

You probably have adblock configured to filter out ugliness. [Its a Multipla.] Your version of the internet probably has unicorns and skittles.