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A hard lesson in speculation vs bullion

Posted by Alex Valdor @ 14:22 on November 7, 2019  

Around 2001 , I found a distressed 1963 Lincoln Continental four door Convertible which I bought for a little over $1000 … four ounces of gold at the time . It had a solid body , and was drivable , but someone had tossed a 20 lb. LP bottle through the top , and the interior was full of wet leaves .

At the time , collector cars , art , and real estate , etc. were being touted as ‘sound investments’ . Over the next three years , I put on a new top , replaced the sodden upholstery and carpeting , had the engine professionally rebuilt as well as the transmission , radiator (even the heater core) , differential , had the body restored and painted and serviced the intricate top mechanism , at a total cost of the equivalent of over 150 ounces of gold – closer to 200 ounces .



Today , the car might be worth 20 ounces of gold – a loss of about 90% in terms of physical gold .

Lesson learned the hard way !

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.