A memory:
About 50 years ago I was at a US Ski Team fall training camp in Cooke City, MT. And of course,
as with life events of
the past, you never forget the unique stuff that happened.
Like the day-off from skiing that we spent hiking around
the hills near town (there wasn't much snow). That day a kid from the Aspen ski
club was
crossing a talus pile below an old mine shaft ... and slipped
and fell. As he was getting up he noticed a gold nugget
next to his hand. So of course he picked it up.
He was very excited about finding the gold nugget and was
showing it to everyone. It was impressive.
That night an old guy at
the bar at the hotel we were staying at said he would
give him $100 for his gold nugget. Everyone knew the old guy was
low-balling the value of the nugget. So no sale was made.
But let's say
the value of the nugget back then was 3 times what the old
guy was offering. $300. Back in 1976 the
price of gold was around $120 per ounce. So doing some
division and rough rounding, the nugget may have weighed
around 3 ounces. What would that nugget be worth in 2024?
Answer: about $8000.
Imagine being out for a hike. Slip.
Fall. And then notice an $8000 gold nugget next to your
hand. That would make for one memorable hike!
Note: When I was in
Cooke City, MT recently, I looked up on the mountainside to the
north side of town and the talus pile where the gold nugget was found
was still easy to see. |