When over and over is a good thing
It is Monday of a short work week. That increases the pressure even as many readers have moved their attention to spending time with their families and friends for Thanksgiving….
It is Monday of a short work week.
That increases the pressure even as many readers have moved their attention to spending time with their families and friends for Thanksgiving.
I checked the Kitco website this morning to see what gold was doing and I was reminded of another day on the calendar that was turned into a movie title: “Groundhog Day.”
Gold is a little bit below the $1,200 mark after trading a little above it on Friday.
I cannot recall how many times we seem to have been at this price point before, but it seems like it has been often.
Hence the movie where Bill Murray starred.
The plot hinged on the fact that Murray's character kept waking up on the same day time after time. He was trapped. Yet he wasn't.
Each time his behavior changed things a little bit until a happy ending was reached.
For gold investors, a happy ending is whether they will hold a metal that reaches their targeted price points.
Unfortunately for them, unlike Murray’s character, nothing gold investors do can affect the outcome. It simply happens. If gold goes up, gold owners make some money. If it goes down, they lose some.
For gold that is owned as insurance against a potential financial calamity, this backing and forthing is probably the best possible outcome for owners.
The value of their houses are recovering. Their stock portfolios have had a nice run since the bottom in 2009.
Holding gold relieves any sense of uneasiness there might be over present conditions.
But that is where coin collecting can come in. Rather than being a passive watcher of an international market, a coin collector can wade in and affect outcomes little by little until the happy ending is reached.
Collectors can buy coins they like, grade them properly and form a collection others will be envious off.
That is a far better outcome than simply watching a swirl of often contradictory events and hoping for the best.
It might be called “Groundhog Day” coin collecting.
Thanksgiving Day coin collecting might revolve around a special deal.
In a nick of time my marketing department came through with an offer for the latest Standard Catalog of World Coins, 1601-1700.
It is the 6th Edition. It is compiled by George S. Cuhaj and Thomas Michael.
It is half price, $45 rather than $90. That is something to chew over besides turkey and dressing.
Here is the link to take advantage of it:
- Subscribe to the NumisMaster Coin Price Guide for access to the web’s most comprehensive list of coin values
- Join the NumisMaster VIP Program for free subscriptions, store discounts, and more!
Buzz blogger Dave Harper is winner of the 2014 Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."
