This week’s blog takes a look at a light-hearted question we are asked a surprising amount of times: “how much would the Gold from The Italian Job be worth now?”
Being up close and personal with real investment grade bullion is an entirely different feeling from only dealing in ‘paper’ money and investments from afar.
I remember on one occasion, in particular, being interrupted from writing by a delivery of 25kg of Physical Silver bars and several ounces of Gold coins. Each Silver bar was the size of a brick but considerably heavier. While the 5 large bars of Silver and a few stunningly crafted Gold bullion investment coins lay strewn casually for a short time on my desk around me, my phone calls and writing continued. Shortly afterward, in walked an Independent Financial Advisor on a pre-arranged appointment to see our CEO, Caroline Savage, who’s desk was opposite mine. I’ll never forget the look on his face – he took a picture! Of my desk! Full of paperwork, and physical Gold and Silver bullion. To me, this was stock to be cleared, stored and shipped securely from my work area. To him, he saw both the uniqueness, quality and hilarious beauty that (to me) several kilos of highly expensive bullion was just my usual environment.
It’s actually important to get to this stage when dealing in and investing in physical bullion. One of the greatest mistakes we can make is getting emotional about our financial investments. Emotions are for relationships, and contrary to the image of a lone man adoring his gold and silver stacks, the successful investor knows not to get attached to his or her financial adventures, it will be a lot less heart-breaking for you when you come to sell. Some of you may be collectors, in which case, the sentimentality and beauty of a coin will unquestionably be considered of greater worth.
But, let’s all consider that excellent question of how much really would the gold in The Italian Job really be worth today…
After some research:
- The original Italian Job was produced in 1968 and released in 1969.
- Gold cost $39 per troy ounce in 1968.
- Today, the Gold spot price at time of writing is $1291 per troy ounce!
- The value quoted in the film in 1968 was four million.
- If so, the Gold in The Italian Job today would be worth a fantastic $132.41 million!!
- Interestingly, in the 2003 – starring the equally cool Mark Wahlberg, a firm favourite of mine, the team planned to heist $35 million worth of Gold bullion.
- So, the 2003 team were seriously behind the inflationary value of real Gold bullion! Small fries to the original team! Why plan only a $35 million heist when the actual gold from the original film was worth $130+ million by that time? Hollywood downsizing on a budget, clearly.
It Ain’t Heavy
The other question about which clients and business associates often joke with me, often over a steak in a nice Devonian business dinner is “And surely the Mini wouldn’t have been able to carry that much Gold huh?” So, let’s do it. Let’s enjoy this very light relief – with a serious investment flavour – together over a cup of Great British tea. Mine’s an English Breakfast, thanks:
- Four million dollars in Gold bars would have weighed about 3200 kg.
- This would require each of the three Morris Minis to carry about 1070 kg (2300 lb) in addition to the driver and passenger.
- Since a 1968 Mini only weighs 630 kg each of these vehicles would have had to carry 1½ times its own weight in gold.
- Is this possible? That’s our pop quiz to our readers, particularly those with knowledge of the chassis strength of a mini.
Gold and Silver Price Rises in Times of Uncertainty
Gold is a historical safe haven, as very real concerns of economic warfare increase, together with severe jitters in the stock market increase the fear factor in opposing investments.
Better yet, purchase so often and so much that you become blasé to the physical Gold and Silver you own, while remaining unemotional in your financial investments. Look for good times to buy, when prices correct (dip). Don’t stay over-attached to one metal. The Independent Financial Advisor I mentioned? He was a Gold bug but never bought Silver. This illogicalness fascinated me, especially in someone who’s job title including the word “Independent”. I guess independent thinking isn’t a given in the financial markets. as in the year we met Silver had outperformed Gold on percentage increase.
In addition, storing some of one’s wealth in physical coins and bars is always a portable and internationally recognised form of wealth preservation in times of difficulty. Call Bleyer on 01769 618618 to talk through your Gold and Silver purchases now. We encourage our readers not to be caught out by rising prices.
Personal and thorough Gold Education is key. Call a member of the Bleyer team now to chat through your current investment choices. Or simply order online at bleyerbullion.co.uk at a time of your convenience, day or night.
Let’s roundoff with the soundtrack to the movie by the legendary Quincy Jones of Motown fame. What a classic.