November 22, 2014

Gold Prices Then And Now

Jim’s great-great Grandfather Joshua Wilkerson was one of those who went to California during the gold rush and actually found gold.  At least, that is the story I’ve been told by the family members who lived in Iowa long after Joshua’s eventual demise.  I have no idea how much money he came home with, but it was enough for his descendants to initiate a lawsuit after his death.  They were seeking their fair share, it seems.

In 1849 one troy ounce of gold was worth $20.67.  I found that fairly surprising, and I can only speculate how much gold  Joshua would have had to find to come home with thousands of dollars.

Investing in gold in the current era can be much more lucrative because it’s now an open market and the price is bid upon all over the world.  If you have an interest in gold investment you might have noticed that the current price of gold is fairly high.  Back in 1995 when I first began watching the prices, it was low and would have been a good time to buy.  I didn’t have the money then, but if I had I’d be a good deal more rich today.

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