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The Chip Board Archive 21

Time value - gold vs. collectible currency

The rare Binion's $10,000 bill is priced at nearly $100,000 or 10 times face value.
Indeed, a rare bill to find anywhere and issued 77 years ago.

But in comparison, gold value in 1934 was just $35 per ounce, so a $10,000 bill could buy 285.7 ounces worth of gold (assuming it was legal to hold that much gold as a private citizen, which it wasn't after the gold standard ended).

Today, at $1800 per ounce, 285.7 ounces of gold would be worth $514,260, or 5 times the value of the asking price of the $10,000 note on ebay.

This isn't a direct comment on the economy, or the pros & cons of returning to the gold standard -- which is a complex subject -- but still an interesting comparison to consider!

Messages In This Thread

Hey Joel Bloom - Binion's $1 million display
Kay and I had our picture taken in front of the
Here is another picture...
Re: Here is another picture...
Everyone is blocking the MONEY! sad Were...
Awesome picture!
Binion's $1 million display POST CARD
Mine in February:
rofl rofl Here's a few pics!! rofl rofl
A good read
You can own a piece of it too !
Time value - gold vs. collectible currency
Re: Time value - gold vs. collectible currency
Re: Time value - gold vs. collectible currency
About $300,000
Re: About $300,000
Re: About $300,000
Silver Dollar pricing in 1967....
A true silver dollar story
Re: A true silver dollar story
My Story
here is a pic to add grin

Copyright 2022 David Spragg