What Can You Buy with One Ounce of Gold?

The price of Gold is approximately $1170 an ounce. If you are filling envelopes with gold jewelry to get cash from Cash4Gold, stop licking your stamps and take a look at what you can buy outright:

Half a Year of Gas

AAA states the average person drives 15,000 miles a year and pays $2.85 per gallon of gas. The average car gets 21.5 miles per gallon. That means you can run over to the Exxon (XOM) and hand them an ounce of Gold for half a year of their black gold.

One 64GB iPad with Wi-Fi + 3G, a Keyboard Dock, iPad Case, Apple Care, and $135 worth of Apps

Which is cooler? One ounce of Gold, or a shiny new Apple (AAPL) iPad? If you aren’t sitting in a basement with Smith & Wessons (SWHC) and Campbell (CPB) soup, you can call Steve Jobs and see if he’ll take your yellow ounce for a 64GB iPad with Wi-Fi + 3G ($829), a Keyboard Dock ($69), iPad Case ($39), Apple Care ($99), and $135 worth of Apps. If you pay taxes, you’ll have to cut back on the apps.

Two Vacation Packages to the Turks & Caicos

Think Gold is a couch potato? Cash that rock in for two vacation packages to the gorgeous Turks & Caicos! Hotwire (EXPE) is offering an awesome deal for a 4-night stay at your choice of resort from just $619. Plus, some trips include complimentary daily breakfast. Yum, yum in the golden sun.

60 Copies of the Presidents’ Books

If you love Barack Obama or George W. Bush, you can send Amazon (AMZN) an ounce of Gold for enough copies of their books to wallpaper your favorite reading room. Given the passions for the two most recent Presidents of the United States, this could be a much prettier choice than Gold because beauty is in the eye of the beholder.

There are a lot of cool or funny things we can buy for $1170. In the comments below, let us know what you’d buy …

If you are interested in learning how to make money from the rise in Gold, click here to try a free trial to our acclaimed Gold & Silver Premium by Chicago Mercantile Exchange commentator Jordan Roy-Byrne CMT.