Gold Rate Insights and Curiosities

What was the gold rate 100 years ago?

100 years ago, in the early 1920s, the price of gold was fixed at around $20.67 per ounce under the gold standard. Adjusted for inflation, this would be roughly $300-$350 in today's dollars, significantly lower than current market rates.

Why would someone throw away a $40,000 gold nugget?

In rare cases, untrained individuals might mistake a gold nugget for worthless rock. There have been documented cases where prospectors or hikers discarded gold-bearing material without recognizing its value, only for others to discover it later.

How is Costco selling gold bars and who's buying them?

Costco began selling 1oz gold bars in 2023 through their e-commerce platform, priced slightly above spot. These are primarily purchased by retail investors seeking physical assets, with some buyers immediately reselling to bullion dealers for quick profits when premiums are high.