Gold holds its value over the centuries
Posted on 25 September 2009 with no comments from readers
Just look at this hoard of Anglo Saxon gold found in Staffordshire in England last week, weighing more than five kilograms along with 2.5 kilograms of silver. It is one of the greatest archeological finds of recent times, and was discovered in a field with a metal detector.
How it got there is a mystery. It is not burial gold but appears to be a private hoard of precious metals. It could have been stolen and hidden or just hidden, perhaps by royalty judging from the exquisite workmanship.
For historians it is a clue to the past of a time for which almost all written records have vanished. But for monetarists surely the hoard also has huge significance.
Doubtless in Anglo-Saxon times there were many rich people. Where is their wealth today?
Put your money into gold and silver and it seemingly lasts forever, and that is what has been so special about precious metals over the centuries.
At today’s price this hoard would be worth around $250,000 for the gold and $1,500 for the silver. Spot the undervalued precious metal!
However, it does also highlight the security aspect of storing precious metals. Be careful if you bury your treasure that you note its location or your wealth might not be uncovered for 1,300 years – still at least it will still be worth something.
How much will stock in Microsoft be worth in 1,300 years or a dollar banknote?
