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DFW

(59,696 posts)

84. The price of bullion was low

Thu Jan 28, 2016, 06:28 PM

Jan 2016

But the premium over the gold price was higher. They could have replaced the gold weight of the coins with straight bullion and pocketed the rest as cash or else taken their profit in straight bullion as well and increased their gold reserves for free. The only really useless move was to do nothing at all, which is exactly what they did.

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Is a 35 karat engagement ring a bit "too much"? [View all] underpants Jan 2016 OP

Yes! In_The_Wind Jan 2016 #1

pics Electric Monk Jan 2016 #2

Thanks underpants Jan 2016 #3

You can barely see the Sierra-Leonean blood. It really polished up nicely. nt Electric Monk Jan 2016 #4

If it's a blood diamond dogman Jan 2016 #5

They're all "blood diamonds" one way or another. hunter Jan 2016 #34

Which societies that don't use minerals as money are you thinking of as comparisons? N.T. Donald Ian Rankin Jan 2016 #39

??? hunter Jan 2016 #40

That's a very legitimate question anigbrowl Jan 2016 #45

they arent that rare. mopinko Jan 2016 #47

True. The diamond "market" is a De Beers monopoly. Diamonds are plentiful, but the supply is VERY WinkyDink Jan 2016 #66

LOL Art_from_Ark Jan 2016 #48

All the gold I have is only valuable for what it is and who gave it to me. hunter Jan 2016 #73

I agree that gold mines are a source of concern Art_from_Ark Jan 2016 #77

My grandpa and dad collected old gold and silver coins, my dad for much the same reasons you do. hunter Jan 2016 #78

I've got a gold coin from my grandpa, too Art_from_Ark Jan 2016 #79

You wouldn't believe how many of them still exist, too DFW Jan 2016 #80

Those old gold coins are often worth more as collector coins than as ingots Art_from_Ark Jan 2016 #81

But $1 gold coins are almost never found in banks DFW Jan 2016 #82

Interesting Art_from_Ark Jan 2016 #83

The price of bullion was low DFW Jan 2016 #84

Depends on the gold coin Art_from_Ark Jan 2016 #85

There were plenty of common coins of course DFW Jan 2016 #86

"Rocks" have always had value. This isn't a new phenomenon. See: Ancient Egypt. WinkyDink Jan 2016 #65

That doesn't make it right. hunter Jan 2016 #75

Tacky, and that goes for the rest of them... demmiblue Jan 2016 #6

My wife and I never had an engagement ring and our wedding ring came from a department store. . . Journeyman Jan 2016 #7

Same here . . . about to celebrate 43 years. Vinca Jan 2016 #33

We made it almost to 41 without any engagement ring (death did us part). We teachers made do! WinkyDink Jan 2016 #67

I think it's a beautiful ring. immoderate Jan 2016 #8

I can't really be bothered to care how others spend their money. linuxman Jan 2016 #9

The ring cost $10 million. jeff47 Jan 2016 #10

Additional scale: one 32" flat screen could feed seventeen children for one year. LanternWaste Jan 2016 #18

Scale is, obviously, a pretty significant difference. RadiationTherapy Jan 2016 #21

Not to the people going hungry mythology Jan 2016 #38

Mmm-hm. RadiationTherapy Jan 2016 #61

$10 per child to last a whole year? They'd get pretty hungry. Electric Monk Jan 2016 #49

How much do you think a 32 inch TV costs? hobbit709 Jan 2016 #50

Total WTF post Reter Jan 2016 #53

NO kidding. laundry_queen Jan 2016 #54

seems proportional aikoaiko Jan 2016 #11

It has always bothered me that the "promise ring" TexasProgresive Jan 2016 #12

I'm a geologist by education. Maedhros Jan 2016 #13

For everyday wear? IMO, yes. Even with bodyguards and staff. KittyWampus Jan 2016 #14

It doesn't even look real dorkzilla Jan 2016 #20

It's all about the money for some people. cwydro Jan 2016 #35

oh come on hfojvt Jan 2016 #15

Diamond jewelry is a scam Orangepeel Jan 2016 #16

It's gross dorkzilla Jan 2016 #17

Yes, too big. It's gonna come off when she's washing the dishes. Shrike47 Jan 2016 #19

Heh. +1 n/t lumberjack_jeff Jan 2016 #27

probably about as too much as their homes, cars, private planes etc. La Lioness Priyanka Jan 2016 #22

I can think of something else that's a bit "too much" jmowreader Jan 2016 #23

It's so big it looks fake, so yeah, it's vulgar Warpy Jan 2016 #24

No bigwillq Jan 2016 #25

The whole concept is ridiculous... TipTok Jan 2016 #26

i can't even imagine wearing a rock that big shanti Jan 2016 #28

It is a bit ostentatious Gman Jan 2016 #29

Have you all forgotten that 68 carat iceberg... TreasonousBastard Jan 2016 #30

My wife has a 5 carot ring and that is a bit much. AngryAmish Jan 2016 #31

If your husband is a billionaire, probably not LittleBlue Jan 2016 #32

Anything over 30 karats is just showing off Freddie Stubbs Jan 2016 #36

Who am I to tell someone what they can spend their money on. I could doc03 Jan 2016 #37

Eat The Rich! hifiguy Jan 2016 #41

Young Packer - damn he looks like his father malaise Jan 2016 #42

Doubt it. Kerry Packer was a famous gambler. anigbrowl Jan 2016 #46

Did not know that malaise Jan 2016 #62

It is absolutely disgusting to flaunt wealth that way. She should be embarrassed but she's not. beaglelover Jan 2016 #43

I'd be scared to wear it in public! Texasgal Jan 2016 #44

Mariah has a dozen security guards. I'm sure a billionaire has a few, also. WinkyDink Jan 2016 #69

Wife and I have stainless steel bands with a tiny slice of polished iron-nickel meteorite in each. Jack-o-Lantern Jan 2016 #51

Wouldn't know...I didn't get my wife an engagement ring. brooklynite Jan 2016 #52

Aside from the fact that, by my taste, such rings are gaudy and gauche....... WillowTree Jan 2016 #55

I got my wife one just over 1 carat. Nye Bevan Jan 2016 #56

No Aerows Jan 2016 #57

I have come to think that engagement rings are a bad idea for many reasons. nt Bonobo Jan 2016 #58

I'd worry about snagging it on things or just general banging it around. tammywammy Jan 2016 #59

Picture Liberal_in_LA Jan 2016 #60

Doesn't gold only go up to 24? Isn't that like 146% gold? frizzled Jan 2016 #63

Karats vs. carats KamaAina Jan 2016 #74

When you marry for money, you earn every penny (or diamond) Holly_Hobby Jan 2016 #64

According to Forbes, MC is worth $225 million. Not a billion, granted, but still! WinkyDink Jan 2016 #72

Eh. My only problem is that I don't care for the cut; no enough "sparkle" (in photos, anyway). WinkyDink Jan 2016 #68

I think it's crazy. polly7 Jan 2016 #70

Let them spend as much as they want on whatever they want -AFTER hedgehog Jan 2016 #71

I doubt that she thinks so KamaAina Jan 2016 #76