At the risk of providing these people with more business. I want to talk about these brainless commercials advertising gold coins. Last week, I watched a show on the history channel about Fort Knox, KY and all the Capital ‘G’old that’s held there. Of course, while the tv show speaks about Gold that means something and has value it seems totally logical to advertise ‘g’old products. The difference between ‘G’old and ‘g’old is that Gold requires a manly grip with both hands if you wish to keep all of your toes. On the other hand, the gold in those advertised coins might get you something off the dollar menu… maybe.
“lavishly clad in 51 milligrams of pure 24 karat gold”
51 milligrams?? Pffft! 51 milligrams of PURE 24 KARAT GOLD!! Ahhh! Well, that makes all the difference. Thinking about what this deal means. I wondered if I paid $20 for 51 milligrams of gold how much is that per ounce?
1 ounce = ~28,350 milligrams
28.350/51 = 556
556 is a multiplier we can use now to find some interesting facts.
$20 * 556 = $11,120
Gold currently costs $912 per ounce, doesn’t seem like such a great deal does it.
$912/556 = $1.64
So for my twenty dollars I only get enough gold to pay for one item on the dollar menu. Selling these gilded coins for twenty dollars is not a scam. The scam is drawing a comparison between the original coins and the copies these guys are printing. As if the copies have value like the original does.
