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An Interesting Coincidence

 
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Author Previous TopicReplies: 8 / Views: 434Next Topic  
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Australia
14508 Posts
 Posted 06/28/2022  11:08 pm Show Profile   Bookmark this topic Add Sap to your friends list Get a Link to this Message
The current global stockpile of gold (both already-mined and gold deposits that have been discovered and are readily minable with current technology) is estimated at 240,000 tonnes. That converts to 7.75 billion ounces.

There are currently about 7.75 billion people on the planet.

So theoretically, if we were to divide up that gold stockpile fairly, so everybody got an equal share, everybody would get precisely 1 ounce of gold. Or near enough to not make much of a difference.

Which in turn means, if you own more than 1 ounce of gold, you're above average.

This ratio has, of course, not always been true. The human population has been growing on a fairly smooth exponential curve since the end of the Dark Ages. The rate of mining new gold is somewhat less smooth, full of boom-bust peaks and troughs as new gold deposits get discovered and then mined out.

In 1950, for example, everybody could have had just over 1 ounce of gold each. In 1910, it would have been more like 0.86 ounces, and in 1492, about 0.9 ounces.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Australia
19851 Posts
 Posted 06/28/2022  11:34 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
From a general viewpoint, I think Warren Buffet is right, he sees bullion as non productive investment.

I have to admit that I have a small bullion stash in platinum, and from it's investment performance, it has not gone anywhere against inflation over the long term

As Sap sees it, I am well above average as a bullion investor, but that does not give me a warm fuzzy feeling.

An so just like Sap I just collect and study coins.
I have quite a few gold coins in my collection, but I don't regard them in any way as bullion potential. I am rather dispassionate about gold, - it is just another coinage metal.
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United States
24235 Posts
 Posted 06/29/2022  01:41 am  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
That is interesting @sap, and the concept of redistributing gold to each person kinda reminds me of Mansa Musa's 14th Century hajj trek. More info at Wikipedia here:

https://en.m.wikipedia.org/wiki/Man...ry%20Friday.
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 Posted 06/29/2022  09:11 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Yes, thanks for that indeed.
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United States
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 Posted 06/29/2022  10:11 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Between January 1971 and Dec 2019, gold had an average return rate of 10.6%, while global stocks returned 11.3%.
The average return for gold in 2020 was 24.6%.

https://www.investopedia.com/ask/an...ong-term.asp
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Canada
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 Posted 06/29/2022  11:03 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
To add. another insightful observation.
If you have one dollar more than you NEED YOU ARE RICH !
one dollar less than you NEED YOU ARE BROKE !
Emphasis clearly on NEED .
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United States
94 Posts
 Posted 06/29/2022  1:38 pm  Show Profile   Bookmark this reply Add glenmorenee to your friends list Get a Link to this Reply
Yes, rich in that we can ponder buying gold as a hobby versus buying gold in desperation.
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