Wednesday, October 12, 2011

A look back at the ultimate gold bug - Mr. T

We don't know if many remember, when last year Mr. T made an appearance on Bloomberg to promote gold, and his affiliation with a gold purchasing company and Gold Promise, but unknowingly or not, Mr. T. was a gold bug long before it became hip and trendy to own it in large quantities.

Mr. T. says that at its maximum, he wears up to 45 pounds of gold around his neck.  Since he bought most of it in the early 1980's, after the crash of the gold markets, estimates put his total cost of the metal at around $43000.

Today however, if you were to sell 45 pounds at the current price in 2011, his investment would be worth $1,209,600.

Of course, this doesn't begin to speak of the publicity value that Mr. T. has gained over the past 30 years by being an icon for his mohawk, and wearing gold that makes rappers today look shabby.


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