Amoeba and I were in Seattle on the waterfront this week and I read a commemorative plaque that surprised me. The Klondike (or Yukon) Gold Rush was triggered by two ships, one that landed in San Fransisco and one that landed in Seattle. The ships disgorged miners with large nuggets of pure gold. The press got a hold of the story and soon the rush was on.
The news of gold in Alaska came during a time of serious recession. There was wide spread unemployment, bank failures and devastating financial hardship. The promise of huge gold nuggets littering the ground was too great a lure. People from all walks of life rushed to Alaska in search of gold.
Nations topple. Banks fail. Property prices wax and wane, but golden “nest eggs” in the form of coins have kept people from panicking for years. I know my step-mom would buy gold coins and squirrel them away. She kept them in a tennis ball tube in the back of her closet. That was her security against ever being broke. Now days places like Goldline International provide gold storage. I’ve never used their service myself, but I am certain they provide better protection then a tennis ball tube in the back of a closet would. If you’re thinking of investing in gold, you’re following an historic tradition.