Wednesday , 22 March 2017


Prince Had About 2% Of His Overall Portfolio In Gold Bars

At the time of his death, Prince…had 67 gold bars in his possession… valued at $836,166.70.

** FILE ** Prince, with the word "Slave" written across his face is shown performing in New York's Rockefeller Plaza in this July 9, 1996 file photo. Recently a number of superstar acts are rejecting traditional multiyear album contracts with major record labels in favor of deals that offer bigger dollars and more creative freedom. (AP Photo/Richard Drew/FILE)The comments above and below are excerpts from an article by Mark O’Byrne (GoldCore.com) which has been edited ([ ]) and abridged (…) to provide a fast & easy read.

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…According to the Minneapolis Star Tribune, the “Purple Rain” singer, while having no stocks, bonds, or other financial assets, also owned in addition the gold bars, a dozen tracts of land in Carver and Hennepin, Minnesota that have an estimated total value of $25.4 million…about $110,000 in cash [and an] estate valued between $100 million and $300 million before taxes.

Among the items that have not yet been assigned a specific value are the ‘When Doves Cry’ singer’s musical instruments, household furnishings, jewellery and his famous ‘Purple Rain’ and ‘Graffiti Bridge’ motorcycles. In addition, the value of Prince’s copyrights and trademarks are still unclear.

Prince’s companies, Paisley Park Enterprises Inc., NPG Records Inc., NPG Music Publishing and LotusFlow3r had more than $6 million in cash….

Contrary to some media, Prince was no crazy “gold bug” or “Scrooge McDuck” who was “hoarding” gold for Armageddon.

Prince’s hard asset portfolio had an allocation to gold of about 2% of his overall portfolio. We would advise higher allocations of 10% plus for investors and savers. However, for high net worth individuals that allocate to physical gold, 2% is a healthy allocation if taking possession of gold coins and bars.

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