The Day the Music Died

With regret, I have today completed the dispersal of the Austrian Philharmonic Orchestra as trapped in 24 carat 1 oz. gold coins.

For $439 apiece, I have exchanged my last 34 pieces of real Austrian money for a single printed number on a piece of paper, which by tomorrow, will have effectively evaporated and left only ghostly electronic traces in a BofA computer, soon to once again take flight over the wires and head for California and the grasping attention of Charles Schwab.

Life goes on.

Share this

Kyle, I take it you believe


I take it you believe the gold market has topped out, then?

Not necessarily.

I mostly sold my gold coins to re-allocate funds for tax and trading purposes. However, the appearance of a gold ETF (exchange traded fund), symbol GLD, replaces the need for actual gold coins under most less extreme future scenarios. If actual gold coins made the difference, I would have much bigger problems to worry (or not worry)about.

Regards, Don

I take it you believe the

I take it you believe the gold market has topped out, then?

Don- the circumstances would

Don- the circumstances would have to be extreme, but it's not at all inconcievable. The big problem is, you might be legally required to turn in your gold coins if a depression occured (as happened under FDR.) The gold tracking ETF isn't audited unfortunately, and as a result you aren't guaranteed any gold by virtue of your ETF shares.

I've got plenty of the ETF shares though, because it seems to me that gold's gonna keep on keeping on as long as the Dollar keeps dropping, which seems highly likely.