Column By Mike Bibb
Typically, most high-stakes robberies usually take place at banks, large corporations, armored car services, or by computer thefts.
Mining companies rarely make the list—at least, not piracy of the finished product by airplane.
On an early April morning in 2020, a bold heist of gold bars called “dore” (French for “gilded” or “golden”) — a combination of gold and silver — a Mexico mine in the neighboring state of Sonora, experienced what was thought to be the first robbery of the precious metal involving the use of aircraft. — Mexico Daily News, April 9, 2020.
As mine employees of Los Minas de Oro Nacional were loading the bars into a contracted carrier on the mine’s airstrip, five armed individuals rushed out of the nearby thickets, subdued the workers, and immediately began to remove the gold.
A Cessna 206 landed about the same time, pulling close to the other aircraft.
The masked robbers tossed the treasure into the Cessna and ran back into the hills as the plane taxied and took off.
The well-coordinated heist took less than ten minutes in an area not quickly accessible by police. Fortunately, no one was killed or seriously hurt during the ordeal.
No dollar amount of the gold was mentioned.
Several gold and silver mining operations exist in Sonora. In the past few years, a few have experienced the theft of their dore bars.
However, robberies of highway vehicles carrying dore bars have been the favored means of stealing the gold. Two or three vehicles carrying armed bandits will approach and block an armored van. Guards inside the van are threatened to open the vehicle, or they will be killed.
In November 2019, another incident occurred involving the theft of 47 gold bars valued at about $8 million at the time. The weight of the bars was not mentioned.
So, I did a little math. The U.S. price of .999 pure gold was about $1,900 per ounce in 2020. $8,000,000 divided by 47 bars = $170,212 per bar. $170,212 divided by $1,900 = 89.6 oz divided by 16 = 5.6 pounds per bar. 5.6 x 47 = 263 pounds of gold.
That’s not much more than the weight of a passenger or two. A small car could have easily been driven away with the loot.
Assuming a similar scenario with the aircraft, a Cessna 206 is a six-passenger plane—plenty of room to load 263 pounds of gold and take off. The weight of the pilot, fuel, and gold wouldn’t hamper the plane.
In comparison, today’s price of gold @ $2500/2600 per ounce substantially increases the value of bars, whether in kilos or pounds. A 5.6-pound gold bar would go for around $224,000. If you purchase 47 of them, the wallet would have to come up with about $10,528,000.
This gives you some idea of the greenback depreciation caused by inflation and loopy monetary policies. It also explains why new houses in Graham County cost nearly $400,000 and cars and trucks approaching $50,000 each, plus interest and insurance.
This should encourage you to work hard, save, and invest as much as you can. Maybe someday, you can afford a loaf of bread and a carton of eggs without taking a second mortgage on your home.
With Christmas approaching, consider the cost of kid’s toys. You may have to extend the home loan to a third mortgage!
