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Thread: $ 3 billion gold bullion - photo

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    $ 3 billion gold bullion - photo


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    1.6E9 oz / (16 oz/lb * 2000 lb/ton) = 50,000 tons

    The Titanic weighed 52,000 tons.

    I know gold is very dense but I can't believe that pile weighs as much as an ocean liner. Did somebody get millions and billions confused?

    Even if it's 1.6E9 troy ounces, the conversion (1 lbavdp = 14.58 ozt) is close to using 16.

    Also,

    1.6 billion ounces of gold worth around $ 3 billion (USD).

    suggests an ounce of gold is worth about $2. The current market price is about $1800 per ounce.

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    Last edited by mklotz; Jan 9, 2023 at 11:38 AM.
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    How much of that you think you can get into 3 Mini Coopers...

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    Quote Originally Posted by IntheGroove View Post
    How much of that you think you can get into 3 Mini Coopers...
    Until there are 12 flat tires.....
    Sincerely,
    Toolmaker51
    ...we'll learn more by wandering than searching...

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    How many 125 to 200 grain Hollow point bullets can I cast out of 100 of those gold bars?
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    There's a car mechanic/rocket jockey/big twit who could put 50 of those piles in his basement if he wanted to. Oh, lordy! Just send me home with one brick; I don't need to build a whole house out of 'em!

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    Quote Originally Posted by Frank S View Post
    How many 125 to 200 grain Hollow point bullets can I cast out of 100 of those gold bars?
    IF it's 1.6 billion ounces, there being 437.5 grains per ounce, a simple calculation. With an instrument carrying more digits than mine; it stopped at "E".
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    Quote Originally Posted by Frank S View Post
    How many 125 to 200 grain Hollow point bullets can I cast out of 100 of those gold bars?
    A LOT!

    But they will either be very short, or very hollow to keep the weight down.

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    Quote Originally Posted by Toolmaker51
    437.5 grains per ounce
    480 grains per ounce - it is gold

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    Quote Originally Posted by 12L14 View Post
    480 grains per ounce - it is gold
    Ah, yes, another idiocy of the mishmash of inferial units. Lets have two units with the same name. Avoirdupois pounds and ounces and troy pounds and ounces. Lets make them close to being equal but not too close so the need for arithmetic when making comparisons is never sacrificed.

    And just to make sure there's enough confusion to go around, lets make the number of ounces to a pound different for the two types. Sixteen for avoirdupois and twelve for troy. This guarantees that the troy ounce is heavier than the avoirdupois ounce, and the troy pound is lighter than the avoirdupois pound.

    Nobody seems to know why the British decided that the precious metal workers should use a different system of weights. My guess is that it made it easier to cheat their customers.

    Lest they be accused of being influenced by the British, developed their own system. There were 16 drops to the troy ounce, 16 ounces to the Scottish troy pound, and 16 pounds to the stone.

    You can read all about it here...

    https://en.wikipedia.org/wiki/Troy_weight#Conversions

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