Chapter 14

All That Glitters: Gold, Silver, and Other Commodities

In This Chapter

arrow Weighing commodities as investments

arrow Digging for gold and silver

arrow Drilling for oil (or not)

arrow Taking a broader approach to commodity investing

arrow Investing in commodity-related stocks instead of pure commodity plays

One of my childhood passions was collecting coins from around the world. Sometime during the Johnson administration, on my meager allowance of $1 a week, I saved up for three months or so to buy myself a gold coin: an uncirculated 1923 50-kurush piece from Turkey. Maybe you can remember getting a shiny new bicycle for Christmas when you were 5 or 6. Maybe, like Citizen Kane, you remember getting your first sled. My most prized possession from childhood was that gold coin, smaller than a dime but absolutely gorgeous.

I still have it.

I never thought of my piece of gold as an investment. But for many people, gold is just that. Historically, the soft and shiny metal has been seen as the ultimate hedge ...

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