Silver Bar
I was a strange kid growing up - loved working and making money. Had a paper route for years. Also mowed lawns and delivered flyers for local business - mainly the local racquetball club (so I could get free membership). I had a friend who used to buy and sell Krugerrands (South African gold coins) at a local pawn / coin shop. He would usually buy one. We used to ride our bikes through Woodley Park to get to the store. I couldn’t afford gold so I used to buy silver coins.
I eventually worked my way up to buying silver bars of 5 or 10 ounces. When I was thirteen (1979) I bought a 50 ounce bar of silver for around $7 an ounce ($350 total) - it was a big deal for me back then. When I recently realized that silver was trading at $45 per ounce I started looking for that bar of silver. Last Saturday I found it and am planning to cash it in for a profit of $1900. I felt pretty proud of myself until I figured the compound annual growth rate… 5.99%.
I know how hard I worked for that $350 initial investment so I’m trying to think of a unique way to spend or re-invest the money to match last 32 years growth.
