Chapter 16
All That Glitters: Gold, Silver, and Other Commodities
IN THIS CHAPTER
Weighing commodities as investments
Digging for gold and silver
Drilling for oil (or not)
Taking a broader approach to commodity investing
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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