An old adage used to explain inflation, and has generally been true since 1873 is “a damned good handgun is worth an ounce of gold.”
I'd never heard it put quite that way, until now. And I think it seems a bit overvalued.
The one I heard, from back in the early 70s was "in the 1970s a $20 gold piece would buy you a Colt revolver. Today, that same $20 gold piece will still buy you a Colt revolver. But a $20 Federal Reserve note won't even come close. (alternate: "but a $20 Fed reserve note will barely buy a box of ammunition" which, in those days, it would but today won't come close...)
The base price of a new 1873 Colt Peacemaker in the 1870s was $20.
An 1870s $20 gold piece was not an ounce of gold. More like 7/8 oz or so, and the gold in it wasn't pure gold, it was coinage gold.
The considerable value of a $20 gold piece today is not because of the metal content but because of its value as a rare old coin.