Apr

21

Gold Story, Alan Millhone

April 21, 2009 |

A MI was at my friends home the other day and he said his little grandson came over and had a handful of assorted foreign coins he was playing with (little boy is five). My friend got to looking at the coins and one stood out and it was a Gold Sovereign of King George in uncirculated condition! Then my friend took from his pocket and placed in my outstretched hand another coin and by its feel knew it was Gold. It was a 20 Franc Gold coin from France. My friend is keeping the coins for now and wrote down the story and will give the note and the coins back to his son at a later date. The little boy never missed the two shiny little coins from the pile of other coins he had. I found the story interesting and told my friend how easy it would have been to have dropped the coins in the yard between their two homes. Maybe there are more in their yards !


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3 Comments so far

  1. Reid Wientge on April 21, 2009 1:38 pm

    Why Capital Structure Matters Companies that repurchased stock two years ago are in a world of hurt By MICHAEL MILKEN - WSJ 4/21/2009 Perhaps not on topic but thought it may be of interest. History isn't a sine wave of endlessly repeated patterns. It's more like a helix that brings similar events around in a different orbit. But what we see today does echo the 1970s, as companies use the capital markets to push out debt maturities and pay off loans. That gives them breathing room and provides hope that history will repeat itself in a strong economic recovery.

  2. Jonathan Bower on April 21, 2009 2:10 pm

    The only coin I've found recently was a 40% silver nickel from '39 in my change. Not exactly the same thing…

  3. douglas roberts dimick on April 22, 2009 8:11 am

    Who’s Gold

    Sitting in Bank of China in Soho (a rather sterile, modernistic, Chinese attempt to NY’s), I was thinking of gold… Service is so slow here that time becomes weighty, heavy, like a precious commodity.

    A flat screen advertised replayed ad nausea, encouraging customers to buy gold.

    Here in China, I think last year, a large gold discovery was made. The article noted that the Chinese Army (PLA) owned the claim.

    The Chinese government has been making a big push for its citizenry to buy gold. A current best seller here, Currency Wars, advances the Communist Party’s line that foreign monetary systems are corrupt and controlled by a few rich families.

    Given that the four state favored banks here are technically bankrupt and face increasing NPL percentages, I wonder how Chinese and foreign investor would describe the currency of this state, given that “trust is the coin of the realm.”

    dr

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