Own a gold bar? Congrats, you're now a millionaire.

Are you one of the very lucky few who own at least one standard-weight gold bar? If so, you are now a millionaire. And yes, I mean that literally.

According to news reports, the price of gold has climbed above $2,500 per troy ounce for the first time ever. That means the value of a 400 troy ounce gold bar is now worth a cool $1 million.

Truth be told, not all gold bars weigh 400 troy ounces…but I wouldn’t be disappointed if I had one that was slightly smaller.

Of course very few individuals and families even own gold bars, but a lucky few do. If you’re one of them I say congrats on officially becoming a millionaire.

(Note to Rick: Anyone who owns gold bars was surely already a millionaire before gold reached this milestone.)

If you don’t own a gold bar this would be a great time to break out the metal detector and go searching for one. You never know when you might find one of the many that were buried for safekeeping and then lost back during the days of rampant train and stage coach robberies. (Hey, a guy can dream, right?)

Or if you happen to own land containing an abandoned gold mine, time to get busy and start digging!

Either way, it’s time to start building your fortune by accumulating gold. Which reminds me, where did I stash that gold ring I got from a gumball machine back in 1972?

Like this post? If so, check out the archives for lots more.

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