π The Diamond That Was a Stock Certificate
In 1933, a diamond was traded for a single share of stock.
In the depths of the Great Depression, a jeweler named Max Meyer walked into a New York brokerage with a 3-carat diamond. He wanted to buy one share of General Electric, then trading at about $20. The broker, skeptical but intrigued, accepted the diamond as payment. Meyer walked out with a stock certificate; the broker kept the gem.
Decades later, the broker's grandson found the diamond in a safe deposit box, along with a note explaining the trade. He sold it at auction for $250,000. The GE share, adjusted for splits, would be worth about $10,000 today. The diamond, it turns out, was the better investment.
π‘ Sometimes a rock beats a stock.
#finance #funfact #history #diamond #greatdepression
In 1933, a diamond was traded for a single share of stock.
In the depths of the Great Depression, a jeweler named Max Meyer walked into a New York brokerage with a 3-carat diamond. He wanted to buy one share of General Electric, then trading at about $20. The broker, skeptical but intrigued, accepted the diamond as payment. Meyer walked out with a stock certificate; the broker kept the gem.
Decades later, the broker's grandson found the diamond in a safe deposit box, along with a note explaining the trade. He sold it at auction for $250,000. The GE share, adjusted for splits, would be worth about $10,000 today. The diamond, it turns out, was the better investment.
π‘ Sometimes a rock beats a stock.
#finance #funfact #history #diamond #greatdepression