Consent of Independent Accountants


We  hereby  consent  to the  incorporation  by  reference  in this  Registration
Statement on Form S-8 our report dated September 26, 1996, which appears on page
21 of the fiscal 1996 Annual Report to Shareholders  of U.S.  Global  Investors,
Inc., which is incorporated by reference in U.S. Global  Investors,  Inc. Annual
Report on Form 10-K for the year ended June 30, 1996.





PRICE WATERHOUSE LLP
San Antonio, Texas
April 22, 1997