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May 4, 2007
Are you worth your weight in gold?, Fri., May 4, 2007, 3:38 PM
Under promotion today is a 100-kilo pure gold bullion coin from the Royal Canadian Mint.
The promotion is meant to highlight the Mint’s new line of 99.999 per cent pure Gold Maple Leaf bullion coins, but it is the 100-kilo coin, with a $1 million face value, that is drawing the attention.
It begs the question, “Are you worth your weight in gold?”
My weight happens to be almost exactly 100-kilo’s (ie, 220.46 lbs avoirdupois). In troy weight that works out to be 3215.07 ounces, which at $690/oz equates to a value of $2.22 million.
So if you are worth (net, net) less than $1 mil, and you weigh more than 100 lbs, obviously you are not worth your weight in gold.
In case you were wondering.
Posted by Posted by Bill Cara on May 4, 2007 03:38:35 PM | Category: Gold
Discourse
Dear Bill,
This thing is silly...It's too heavy to lift, too big to run away with, and too pricey to exchange for anything except a big house.
What good is it?
Chris
(got an extra one, send it to me)
Chris
Posted by: shark_attack ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
May 4, 2007 5:53 PM [link]
Chris,
You can roll it down the street to impress the neighbors that you hit the motherlode.
Or you can bring it to The Bahamas and display it as a promotion for my highly-skilled, profit-generating precious metals advisory services. (LOL)
I think it would look good in the bullion vault I hope to build some day. Don't you?
Posted by: Bill Cara at
May 4, 2007 6:50 PM [link]
My wife often says I am full of soup. I'll ask her tonight if I am worth my weight in soup and report back.
Posted by: number2son at
May 4, 2007 6:58 PM [link]
Laugh all you want but I have put my order in for one. Scotia Bank is going to have to find a place to store it.
Posted by: Horatio at
May 4, 2007 8:28 PM [link]
Bill,
Unfortunately the Royal Canadian Mint is a crown corporation and has not been exempt from displays of waste and mismanagement in the past. Don't be suprised if this token goes missing on a trip through Quebec, or dragged down to Haiti on one of the Governor General's junkets - never to be seen again. Perhaps a few more kilos of AU soon to be on the black market?
Posted by: TerryC at
May 4, 2007 8:37 PM [link]
I sure would like to have one of em million dollar coins framed and hanged in some room in my house. Can anyone else imagine Flavor Flav wearing that million dollar coin around his neck??
http://www.amnh.org/exhibitions/gold/
actually you can calculate it here. looks like a cool exhibit btw, for us in the nyc area.
Posted by: rob d at
May 5, 2007 9:18 PM [link]
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“Are you worth your weight in gold?”
Anybody out there knows a good diet?
Posted by: HugoB![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
May 4, 2007 4:26 PM [link]