by Jeff D. Opdyke
The Sovereign Investor
I bought some Mexican gold on Monday.
Old gold. Pre-World War II stuff. Two-peso coins slightly smaller than a U.S. dime that Mexicans used to carry around in their pockets — only these are not all banged up and gnarly like normal pocket change. They’re all in uncirculated or “about uncirculated” condition, meaning they’re really nice coins.
They each contain about a 1/20th of an ounce of gold, rounding out my coin collection that starts about 1.2 ounces per coin and decreases in size down to these tiny pesos.
I’ve built this collection not because they’re particularly rare. They’re generally not. Though they’re certainly collectible, their real purpose is something altogether different — my Boy Scout-like preparation for prices that will exceed $10,000 an ounce in a currency crisis.