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Fun on Friday: You Forgot, Didn’t You?

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Psst… It’s Valentine’s Day.

You forgot, didn’t you?

Well, if Valentine’s Day did slip your mind, and you happened to stumble across this post early enough, you’re welcome. Now get out there before it’s too late.

And if it is too late, well, I’m sorry for your pain. Hope the couch is comfy.

Of course, I’m assuming you have a Valentine to shop for. The easiest way to avoid the pressure of the holiday is to just stay single. But that’s a subject for a different Fun on Friday.

So, here’s the question: now that I’ve reminded you, what do you plan to buy your Valentine? I know you have something in the cards because despite grousing about the holiday, Americans spend a lot of money on it – somewhere in the neighborhood of $20 billion.

Yes. Billion. With a B.

Now, you could just go with a card. I wouldn’t recommend it as a stand-alone option. But if you’re brave, and cheap, go for it! And it’s probably a better option than forgetting.

But even if you’re getting a more significant gift, you probably should still buy a card. Most people do. The Greeting Card Association (yes, that is apparently a thing) estimates that approximately 190 million Valentines are sent each year in the US.

If you’re a traditional sort, you’ll likely go with flowers and candy. This may seem cliche, but it’s not a bad option. It’s easy to grab last-minute. This is about as last-minute as it gets. And I mean, who doesn’t like chocolate? (I actually do know a few people who don’t like it. But they’re almost all weirdos.)

Here’s a fun fact: approximately 224 million roses are grown for Valentine’s Day. The reason red roses have been associated with love is because they were the favorite flower of Venus, the Roman goddess of love.

As far as candy goes, chocolate is associated with love because it’s delicious and everybody who isn’t a weirdo loves it and wants to have as much as possible. This is why profits on candy sales hit $1 billion during the Valentine season. According to one article, 36-million heart-shaped boxes of chocolate sell for Valentine’s day annually. According to Walgreens, 70% of chocolate hearts sold at their stores are purchased within the last 48 hours leading up to Valentine’s Day. So, yes, we love last-minute shopping!

By the way, if you haven’t done your shopping yet, why are you still sitting here reading this. Go. Now.

But enough with the cheap stuff. Now, to be fair, these days, candy, flowers and cards are in no way, shape or form “cheap.” Thank you Federal Reserve. But let’s get cut the crap here. Your Valentine would love some candy, flowers and a nice card. But what your sweetheart really wants is gold.

In fact, of the $20 or so billion spent on Valentine’s Day, an estimated 18%, or $3.9 billion, is spent on jewelry. And a lot of that jewelry is made out of gold. Why? Because gold is beautiful and we all know it has intrinsic value. Gold has been valued for centuries and is a sign of wealth. You really can’t go wrong with gold. A card will sit on a shelf for a few days and be forgotten. Flowers will wilt. Chocolate makes us fat. But there is zero downside to gold.

And you know what? If you’re reading this a day or two after Valentine’s Day, a little gold might even just get you off the couch!

Fun on Friday is a weekly SchiffGold feature. We dig up some of the off-the-wall and off-beat stories relating to precious metals and share them with you – with tongue firmly planted in cheek. Click here to read other posts in this series.

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
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