# Video: One Ton of Gold Seized in Small Car

By | April 5, 2013

In some places people can’t trust banks with their money, so some keep their riches elsewhere. It is not impossible to save up over ones working years, invest well, run a business and thereby legitimately obtain \$50 million in gold. This is especially true if you bought gold when it was less expensive.

Another reason not to trust Bloomberg: THEY CAN’T DO MATH!

1 TON = 32,150 ounces of gold

32,150 ounces x \$1,556/ounce is \$50,025,400

ABOUT FIFTY MILLION US DOLLARS! —NOT \$6M!!!!

There is a difference in the British vs the American “ton” as well.

Gold is measured in Troy ounces and 1 Troy ounce equals 1.0971428571 ounces. 1 metric tonne = 32,150.746 Troy ounces 1 long ton of 2240 lb (UK) = 32,666.667 Troy ounces 1 short ton of 2000lb (US) = 29,166.667 Troy ounces

The price of gold is down a bit. With gold at 1,197.30 per troy oz, the value of a short ton (US ton) of gold would be \$35 million dollars (\$34,921,250.29). The value of 1 metric tonne of gold would be \$39 million dollars (\$39,111,800.39). Interestingly, the value of an ounce of gold is about the value of a decent metal detector that can help you find gold.

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