With fears of Brexit causing Sterling to fall in value, stockmarkets suffering continuing turmoil and the gold price rocketing, there’s big money to be made owning gold or a gold Oscar.
You’ll Find Lots of Interesting Facts About The Famous Gold Oscar In The Fascinating Inforgraphic Below
Buying Gold or Gold Oscars Can Produce Glittering Returns
In times of financial uncertainty, people invest in gold and the price tends to rise. 2016 is no exception. In one of the most turbulent starts to a year on record, the gold price has risen more than 23 per cent in the first two months of 2016.
Several savvy SIPPclub members have already sheltered sizeable sums of their SIPP money in Gold.
But it’s not just physical gold that attracts investors. Interestingly, there’s big money to be made buying a gold Oscar.
In 2003, magician David Copperfield paid $299,000 for the gold Oscar for Best Director to Michael Curtiz for Casablanca in 1942. In 2012, he auctioned it for more than $2 million, making a staggering compound interest return of 24 per cent per year. Now that’s magic!
In 1999, Michael Jackson paid $1,540,000 for the gold Oscar for Best Picture for Gone With The Wind in 1939, almost five times more than the pre-sale estimation.
Steven Speilberg invested $917,000 for the gold Oscar for Best Actor to Clark Gable for It Happened One Night in 1943, and $773,000 for the gold Oscar for Best Actress to Bette Davis for Jezebel in 1938. He donated them both back to the Academy for safekeeping.
What Is A Gold Oscar Worth?
It’s estimated the cost of making one gold Oscar is $400. The melt value of the 24-karat gold plating is just $57.40. But if a gold Oscar were to be made of solid gold, the melt value would be roughly $330,000.
Despite only being covered in a coating of gold just 15 millionths of an inch thick, gold Oscars can be worth millions. However, since 1950, the Academy hasn’t allowed winners to sell a gold Oscar unless it’s offered to the Academy first for just one dollar.
There have been around 150 sales of gold Oscars, with roughly half of them being sold on the grey market. 15 Gold Oscars were auctioned in 2012 for $3 million.
The Gold Oscar: How It’s Made And What It’s Worth
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