Planet Money Buys Gold

The Friday Podcast: Gold!

This is what our coin looked like — only it wasn't this big in real life.

This is what our coin looked like — only it wasn't this big in real life. U.S. Mint hide caption

toggle caption U.S. Mint
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On today's Planet Money, we make a radical change in our investment strategy: We buy gold.

And we find that our new investment raises some unsettling questions.

Why is our little gold coin worth $419? You can't eat it. You can't fuel your car with it. And three years ago, it was worth half as much.

The guy who sells it to us says he doesn't know why it's worth anything at all. And a fund manager with millions of dollars invested in gold told tells us it's a mistake to try to make sense of it.

But we're not taking his advice. We plan sell our gold in six months; before then, we'll be doing a bunch more stories to try to make sense of gold, money and the nature of bubbles.

For more, read our post from this morning.

Subscribe to the podcast. Music: Dispatch's "Flying Horses." Find us: Twitter/ Facebook/ Flickr.



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