To some in Britain, Nick Mead is a very honest man. For some, he could be the guy who gave away a fortune because it was the right thing to do. And for others, they want to know why he was buying Iraqi tanks in the first place. However, what is certain is that Nick, 55, could become a very rich man indeed after clearing out his newly purchased, $35,000 T54/69 Russian-built, Iraqi-owned tank only to find 5 gold bars.
Being an honest guy, Nick has notified the police in Britain who will attempt to find the original owner of the gold bars. However, it is assumed that in the dying days of the Baathist regime in 2003, the gold bars were looted from somewhere, be it a bank or a palace, and stored for safe keeping in the tank’s diesel case. If the police do not find the owner within a limited amount of time, thought to be a matter of weeks or months, then the gold will be Nick’s to keep.
Worth Their Weight
The find comes at a good moment for Nick. If he is able to keep the gold he will have over $2 million in bounty from a $30,000 tank. As an owner of over 150 military vehicles as part of his Tanks-A-Lot business, he will at least be able to buy back the Army lorry and Abbot self-propelled gun he traded in, in order to buy the tank in the first place.
The value of the bars will depend on the nature of the markets at the time. However, the value of gold has been on the rise lately. Last week it rose dramatically after Trump’s missile launch against Syria to $1,248.50 per ounce. For the record, each gold bar Nick found weighs 12 pounds. At the moment, gold is seen as the ultimate safe haven investment whether this is investing directly into the gold market or converting cash into gold items. According to Lear Capital, gold stocks might not be the best investment - actual gold be it bars or coins, represent the better investments in a gold bull market.
Due to recent actions within the Trump administration, the value of gold rose sharply last week. If standoffs between America and Russia continue over Syria the value of gold as a safe haven market will continue to strengthen. This could be further exacerbated by Trump’s planned standoff with North Korea over missile testing. Any instability in the Sea of China is likely to reduce the Yen’s position as a safe haven and push more value into gold.