How Much Money is a Fiddle Made of Gold Worth? My Financial Opinion For This Awesome Song
How much money is a fiddle made of gold worth? Always nice to have some fresh content! A fiddle made of gold might strike you as familiar because of the popular song “The Devil Went Down to Georgia” in which the song is basically some guy bets his soul for a Fiddle made of gold. Was it worth the risk? Considering that Johnny won due to his confidence and skill, it worked out in the end, but just how much did he gamble his eternal freedom on? My guess is somewhere around $550,000, not a bad risk if you ask me. Let’s look at the facts surrounding where you can get a fiddle made of gold, how much it weighs, cost of gold per ounce, and how we come across this from here. For more details and information on all things business, finance and money, comment down below or subscribe to our blog for additional details and information.
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What Is The Weight of a Fiddle Made of Gold?
From the good old Google Search Engine, they say that a fiddle made of gold would likely weight around 30 pounds. Since gold is about 35 times the density of wood, and since a fiddle or a violin weighs around 400 grams, that gives us a 30 pound violin.
Gold right now sells for around $1763 an ounce. 16 ounces to a pound is 480 ounces, which leads us to a sum total of $846,240. Yes, and this could be tax free since it’s a gift, though in this scenario the Devil might need to file form 709 since he went over the $15,000 gift tax exclusion limit. Johnny made one heck of a bet here and came out on top, heck I might bet my soul for $846,000, that’s one heck of a reward for a violin playing contest, and you could definitely start your rental property business with that kind of capital.
Here’s How Much A Fiddle Made of Gold Might Cost
One more time, here’s the math on how much a Fiddle made of gold might cost:
A typical fiddle or violin weighs around 400 grams. Since Gold is around 35 times the density of wood, that gives us a 30 pound violin. Just to play this thing it would be like picking up a typical bicep curls dumbbell, I digress.
With a 30 pound fiddle made of gold, and with gold being valued at around $1763 ounces, 480 ounces x $1763 = $846,240. So yes, in many ways Johnny’s gamble with the Devil in Georgia was somewhat justified.
Why What Johnny Did Was Worth the Risk!
I don’t know about you reading this, but I would say that $847,000 lump sum would be a pretty life changing amount of money for me. I would probably take $400,000 and buy a Duplex with it all cash, I would use another $20,000 to fix it up and to locate renters, this would give me $30,000 per year in passive cash flow for life. With the remaining $427,000 I would mix it into index funds and dividend stocks for another $6,000 a year in passive cash flow. $3,000 per month in additional passive income would allow me to scale up my blogs, and could make one heck of a benefit on my financial situation!
Final Thoughts On What Is The Weight of a Fiddle Made of Gold?
What do you think about the risk that Johnny took for his Fiddle Made of Gold? Comment down below to let us know and remember to subscribe!
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