Brasher doubloon sells for $3 million at FUN
|
Wasn't this the same coin offered from Jay Parranio's The Mint a number of years
ago for a million bucks? "stonej" wrote in message ups.com... http://www.local10.com/news/4079181/detail.html |
"stonej" wrote in message
ups.com... http://www.local10.com/news/4079181/detail.html The story says this coin sold for $600,000 in 1981, and $3,000,000 a couple of days ago, and that "coins sometimes appreciate at an extraordinary rate." The doubloon appreciated in value by about 6.9% per year. The Dow Jones Industrial Average was about 970 in 1981, and about 10,500 today, so it has appreciated at about 10.4% per year. Put it another way: $600,000 invested in blue chip stocks in 1981 and held there would be worth about $6,500,000 today. |
"Allan Abrahamse" a écrit dans le message de news: eiTGd.2425$ef6.44@trnddc07... "stonej" wrote in message ups.com... http://www.local10.com/news/4079181/detail.html The story says this coin sold for $600,000 in 1981, and $3,000,000 a couple of days ago, and that "coins sometimes appreciate at an extraordinary rate." The doubloon appreciated in value by about 6.9% per year. The Dow Jones Industrial Average was about 970 in 1981, and about 10,500 today, so it has appreciated at about 10.4% per year. Put it another way: $600,000 invested in blue chip stocks in 1981 and held there would be worth about $6,500,000 today. These numbers are not quite accurate. The Dow Jones index is a managed index. Companies that are part of the index get replaced by new companies. Doing this with your stocks incurs cost, doing this via a mutual fund also incurs cost. The above analysis of present value investment is the 'smokescreen' used by those that make money with investment services. Had to put my 2 cents as I paid 2% for mutual fund service charges for too many years and thus not getting the 10.4% per year you mention. Also, I suspect that any valuable coin collections must be insured, again cost that makes the 6.9% per year a lot less attractive. How much does a collection cost to be insured, relative to it's value? 1%, 5%, 10%? |
All times are GMT +1. The time now is 03:57 PM. |
Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
CollectingBanter.com