EXHIBIT 23
                       CONSENT OF INDEPENDENT ACCOUNTANTS


We  hereby  consent  to  the   incorporation  by  reference  in  the  Prospectus
constituting  part of the Registration  Statement on Form S-8 (No.  38-33012) of
U.S. Global Investors,  Inc. of our report dated September 26, 1996 appearing in
the Annual Report to Shareholders which is incorporated in this Annual Report on
Form 10-K.





PRICE WATERHOUSE LLP

San Antonio, Texas
September 26, 1996