Consent of Independent Accountants


We hereby  consent to the  incorporation  by  reference  in this  Post-Effective
Amendment No. 2 to the Registration  Statement on Form S-8 (No. 33-33012) of 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