Andy B.

Gold Loses Its Shine

Here's a real life gold story that actually happened. I thought I'd throw it in here. Enjoy.

Back in the 1960's, my uncle-in-law (he lived at 2764 N. Weil St in Milwaukee, WI, second house south of what was then a corner bar) was metal-detecting in his back yard with a White's metal detector when it went off near a stone bench. He started digging and hit a cloth or leather bag. When he opened it up it contained numerous gold double eagles from the 1930's. He again searched the yard with the detector and got a hit on some more metal. When he dug, up came another bag of gold coins! These were probably buried by someone during the Depression who didn't trust banks. I don't think he ever spent those coins because he was afraid the IRS would confiscate them or heavily tax him if they found out.

(Our government's greed knows no bounds. Right now the Democrats and the Republicans have divied up $700 billion of the taxpayer's money under the guise of a "bailout"; $350 billion for the Republican's term and $350 billion for the Democrat's term. Who says there's no bipartisanship? They scared us into giving it to them under the threat that we'd have a depression if we didn't. At least that was their reasoning. Of course our reasoning was they flat out stole it from us without our vote. Taxation without representation. So I don't really wonder why the former owner of those gold coins buried them in the first place. We get the picture 80-some years later.)

Anyways, getting back to the story, he held on to those coins until the 1990's in his safe at home until he was diagnosed with Altzheimers. He then went to King VA Hospital and died a year or so ago. I don't know what ever happened to those coins nor if there still might be more gold coins still buried in that back yard down in Milwaukee. I can imagine that if there were any still there, the owner would be a rich man.

Either way, even though he had all this gold, it never did him any good in the end, or anyone else, for that matter. The moral of the story is that even if you have the actual physical gold, you can lose that as easily as if you had it in the stock market.