Sometimes when I write I start off with a negative feeling like today and other times a very positive one. Now this morning at 4 a.m. I took a look at the overseas markets and saw a lot of negative numbers. All of the financial markets are tumbling over Italy’s debt crisis while they are still unsure if Greece’s has been resolved. One would think a flight to hard assets would be in order. I certainly do. But along with the tanking of equities, traders/investors are seeking liquidity so hard assets suffer as well. Only the almighty dollar is desired, because it still is the reserve currency of the world.
After a little more analysis I realize gold is up from last time. Silver and platinum are down 3 percent and 1 percent, respectively. What this means is gold is the monetary insurance and the others are signaling a slowdown industrially. The Fed will never allow deflation if it can stop it, but what about housing prices? You see? Clear as mud.
Better date modern gold (early 20th century) has had some very positive activity over the last few months. Check the charts for some recent updates. U.S. type gold has been active with several increases but premiums remain modest.
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In the area of non-gold type coins there is little to report other than a substantial increase in G-4 silver 3-cent pieces. I have long thought they are underpriced and still do.