THE KRUGERRAND EXPERIMENT

[TheGlobalhunger]

He never gives it to the ones who know what it is because he think they'll snatch it....

[MalusImperium]

it seems most women dont know! They're only interesting in spending spending spending!!!

[Wittmann73]

take the coin and Ruuuuuuuuuuuuuuuuuuun ....

[IamMagPie]

07:58

I have no idea!

Aaaah... A KRUGER Rand! One of those!

[silverguru]

Are we at a top in gold? When I did this many were saying gold was at a top, gold was $650 at the time. We are now about double that... we will double from here. David Morgan

[tysken94]

do i understand anything wrong or do they get 1million dollars and dont react at all??????

[Ethereus]

Silver is heavily used in industry. Demand for it has outpaced production for the last 65 years (possibly longer). However silver prices have been kept (I believe) artificially low which is evidenced by a massive short position on the CME. Ordinarily any given short position should be able to be covered in 5-10 days. The silver short would take 145 days to cover (If all the world's production went to covering that position). As a result, I believe silver is *far* more undervalued than gold.

[Ethereus]

That said, I'm a huge fan of precious metals as a wealth PRESERVER, not a wealth BUILDER.

Currently I hold a substantial portion of my portfolio as silver (but no gold). I believe gold has reached a peak (or will in the not-too-distant future) while silver has been woefully lagging behind. As investments, they should be at some sort of parity as both are precious metals, but silver has a few things going for it that gold does not.

[Ethereus]

Inflation won't render paper "useless" as currency. If you told someone back in 1970 that a gallon of milk today would be $3, they would be in disbelief and think no one would be able to afford to live. Yet as prices go up, so does the cost of labor (that means your wages). So in all, things remain at parity.

What people are talking about is that if you sacked $100,000 under your mattress in 1970 you'd have been set (if you retired in 1970) but not in 2010. Smart wealth management is key.

[polygamous1]

in the 60s it was £26 each n my forman instead of saving his money was buying them n what r they worth now?

[MUDSWAT]

If I ever see you I'm going to say nope I don't know anything about them, then. Palm your coin and take off running!!

[wildboy789789]

650!!!!! im buying em now for $1100

i hope they hit about 1600 or im out alot of money

[superchink28]

most young people, have no idea about gold!

[wildboy789789]

im 18 and buying kruggerands... but im probably the only one in missouri lol

[wbysniper]

@wildboy789789 im 20 and i have 4 of em'. i live in texas. you are not alone haha

[Decoy8]

i know a lot about gold but I cant afford it lol. So im just sticking to silver right now.

[pmarie2003]

Don't any of these people remember back when it wasn't PC to buy Krugerrands because of the apartheid government? People were buying Maples, etc. instead. I was a freakin' dog groomer back then and heard about it.

[vinegaroon1]

Shit on this blowhard. Gives the coin, then takes it back.

[glorp896]

white guys well over 30 know and have gold, no surprise there! if not owners they at least knew or at least knew it was money, but calling it currency is an inaccurate way of describing this gold as money... it should be equated with the spot price as legal tender and not having a value based on the south african rand, which is not accounted for on the coin, like usa gold coins

the little girl made me laugh...

the people that actually have it in their hands and still can't figure it out?

[jetulik]

Most Americans can't even identify there own country on a world map.

[fox20012]

ROFL i Loved this video!!

That second guy wasn't fucking grateful enough, i want a million dollars

[glorp896]

you mean after the first person, who was a girl - just a little petty correction, but i agree, he was kind of sarcastic and nonappreciative, morgan's a nice guy, but i guess some people always get bothered by those who try to profit, which is a bit of what david was doing...

[Danster82]

Sorry but this guys a bit a noob, why would you place a krugerrand in someones hand and expect them to be amazing or somthing, someone needs to tell him that its just a piece of metal. It would of sufficed to just say do you invest in gold yet because of the economic conditioned , no no yes no yes yes no no no. ok great

[glorp896]

u don't get it! its history, its pretty much the ONLY real money on earth... and its a real thrill to have gold in your hands... if it doesn't do something to you i can only say you lack survival skills - try 24K gold coins, 22K, like this s. african coin has a copper hue and is not as beautiful... it has a full ounce of gold but also 8%+ copper due to making it worthy of circulation as "currency", whereas pure gold is too soft a metal to bang around in pockets...

[Danster82]

I get everything you are saying I got it years ago which is why I was converting all money to gold when it was at £200 an ounce.

But what does knowledge of Gold have to do with my first comment? It wasnt even about Gold for a start.

[glorp896]

very well then!, you really do get it! great job! my dad bought a bunch of gold at under 300$ ounce, which after doing the math and research i find is right around what you paid, did you do this in 1999 like my dad?

of course it was about gold, you used the word gold, k.rand, and piece of metal - all meaning gold, maybe you have another comment that didn't have anything to do with gold?

i have a few mining stocks, but got burned on a few microcap mining stocks also...

[glorp896]

maybe you saw a response i gave to someone else?

[soylentgreenb]

David Morgan is flat wrong about the difference between a real $20 bill and his toy money; the $20 bill is backed by the expectation that you'll be able to purchase something for it and the abillity to levy taxes on US citizens.

Gold is backed by exactly the same expectation that you'll be able to exchange it for goods and services at a future date; the utillity of the underlying metal is almost nill so the biggest difference between fiat money and gold is who you have at the printing press.

[DiggingTreasureDcom]

That funny you said gold has peaked and yet its go up another 100 bucks since you made that comment. I would rather have gold than paper any day. Your the only one who is flat wrong. But then again, at least you will be able to burn your paper to keep warm when inflation renders the paper useless as currency.

[soylentgreenb]

"That funny you said gold has peaked and yet its go up another 100 bucks since you made that comment."

Actually it's down ~€50 since I made that comment, if you bought at the peak your down ~€100.

[Digplayer]

Oh come on don't be silly. That the price goes up and down it's obvious. When I made the comment it was up, now maybe it's down a bit, who cares. Paper also suffers currency fluctuation in it's relative buying power. The point is paper can just be printed out and create hyper inflation whereas gold can not.

[TadRapidly]

Next question: Do you think your own government wants you dead? No? Thank you for participating!

[noraklagrangian]

If a person asked me for my name and asked if I had any gold, I would obviously say no. If you have gold you shouldn't tell anyone, especially if it's physical gold.

[77WABC]

It Figures ! , the Women dont know shit from shineola .... and all the guys do ....

[jjdonut]

I'm thinking that many of the people who did

know what a Krugerrand is knew so because of

the movie "Lethal Weapon" and many of the positive responses to owning gold were lies.

[aeonmike]

great way to launder money (buying gold)... not that i have the need to launder any :P

[TadRapidly]

that comment makes no sense.

[aeonmike]

makes perfect sense tadrapidly look up money laundering

[TadRapidly]

well, if you mean that federal reserve notes stink from being rotten, phony and corrupt then, yes, gold is nice and clean. Now fluff and fold. ;-)

[willemjpf]

LOL i am from South Africa, our government was very clever as Americans were not allowed gold bullion, however in the guise of coins were allowed, thus it made the Kruger Rand very popular in the West, then of course other countries followed.

[dragongirl724]

'a kruggerand looks like its a deer or antelope type.' lol

kruggers are a girl's best friend. ;)

[vincentyeo88]

that deer or antelope type is called a springbok.

[klacoste]

Interesting survey. Keep it up!

[no2GMOs]

Hey Lady, wanna see my Krugerrand? No spotting or buff marks, I promise. I bet my Gold Buffalo would look good in your hand too.

[potatochip53]

Surprising how many people DO know what one is... looks bad for contrarians.

[soylentgreenb]

"Surprising how many people DO know what one is... looks bad for contrarians."

Nope, looks bad for the gold bugs; not too many more 'greater fools' left. And what do you know, gold has since peaked.

[dharmashooter]

Well, women like it. Hence rings, chains, earings, etc. So I would say it's utility is quite more than nil unless you're a monk.

[soylentgreenb]

Colourful pieces of paper with dead statesmen on them tend to dazzle women to.

This is not an inherrent quality of the material, it's a function of its use as a symbol of wealth.

Again, actual uses of gold are almost nil. If you feel fine having your investment's value derived at the whims of fellow gold bugs and women's fashion, feel free.

[captvanhalen]

You couldn't be more mistaken, soylentgreenb. Gold and silver are the best physical representation for value we have been able to mustard up so far. If, and that's a BIG IF, we can survive without physical currency, then gold and silver might lose a lot of value -- but rare coins will always be valuable just as fine paintings and sculptures will. As will some of those papers, but the only ones that are already valuable. Please, go spread disinformation somewhere else.

[viehe69]

Would you like to retract that now?

[brnoamik]

What a creepy guy. LOL

[wrenchmandan]

all of the chicks were like " whatever!"

[vincentyeo88]

my first ever gold coin bought was a Krugerrand in 1979 at $350, and sold in 1980 at $750.

around 1983/1984, there was a worldwide campaign against the sale of Krugerrand gold coins because of South Africa's apartheid policy.

banks in Singapore quit selling Krugerrand coins but local coin-shops quietly continued selling/buying them. many were melted down by jewelry shops and turned into 22K gold items like rings, necklaces, and bracelets.

[dragongirl724]

too bad he sold it.

[oui222]

Boring

[barbaartjie]

great experiment, nice and very original idea!

[Jeff98177]

My grandpa bought 10 Kruggerands about 20 years ago, 2 for each of his kids. They're very nice.

[starwarsgeek171]

lol! That comment made my afternoon. I hope that you really wouldn't do that, actop19.

[actop19]

I bet I could run faster than him, when he put the coin in my hand

[starwarsgeek171]

Run Forrest, run!

[methylamine]

But Sgt. Dan, you ain't got no legs!!

[wysiwyg248]

I believe the Krugerrand was the first 1 oz. gold coin minted in the world.

[CBound]

Maybe first after all the world's nations abandoned commodity currency. First in the post Brenton Woods meltdown?

[supergurkenesser]

I also want to hold a Krugerrand in my hand! :-)

[Take2or3]

LOL the gril "yes ääääääähhhhh ahhhhhhhh hmmmmm"

[BubbFromGEI]

Great concept.

You might even find some young folks who dont know what a "Silver Dollar" is.

[tojaktoty1]

silverguru, just finished and watched the ending comment. i agree we have a long way to go. great interviews. i thought of doing something similar.

[tojaktoty1]

silverguru, what did you think of the outcome? were you surprised with the amount of those who knew what the kruger was?

[SamerAdra]

5 stars for the girl, haha...

I didn't know what a Krugerrand was until a few weeks ago. More people had heard of it than I thought.