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"Jeremy Siegel’s database shows that $1 invested in gold in 1800 was worth $0.98 in 2000 when adjusted for inflation."
Feb 25 12:58 pm
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All Comments by bowman711 »Why Gold ETFs Trump Gold Bullion [View article]
This statement is meaningless unless it is compared to something. How much was $1.00 invested in the 'DOW or 'S&P500" in 1800 be worth 200 years later?
chux08 said: "I CAN'T BELIEVE IT!! A PRIME EXAMPLE OF WHAT GOLD DOES. IT HOLDS A STEADY PRICE FOR 200 YEARS AND THIS IS BAD???????"
If the $.98 in 2000 is in current dollars, and the $1.00 in 1800 is in those dollars, then it says that the actual value of gold dropped at a slightly greater rate than the $1.00 during those 200 years.
The only way this statement can mean something would be if it is compared to some product or other commodity. How much of a barrel of oil would $1.00 worth of gold buy in 1800, and how much oil would it buy today. That is a valid comparison.