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Time to Buy Outside of the U.S.?

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Sometimes you have to think outside the box when looking for the best bargains.

As of Wednesday afternoon this week [July 6], the US Dollar Index was at its highest level since Oct. 30, 2002! Year to date, the Index is up almost 12 percent.

Here is how the U.S. dollar has fared year-to-date through July 5 against the currencies that make up the US Dollar Index:

• Euro (57.6 percent component of the US Dollar Index) +10.8 percent

• Japan Yen (13.6 percent) +18.0 percent

• Great Britain Pound (11.9 percent) +13.1 percent

• Canada Dollar (9.1 percent) +3.1 percent

• Sweden Krona (4.2 percent) +16.1 percent

• Switzerland Franc (3.6 percent) +6.2 percent

The euro is now at its lowest level to the U.S. dollar since late 2002.

The dollar was also up year-to-date more than 10 percent as of Tuesday this week [July 5] against these other currencies: Argentina Peso, Israel Shekel, Chile Peso, New Zealand Dollar, Denmark Krone, and South Korea Won. There are probably others.

If you are looking for bargains in numismatics, now might be the time to peruse non-U.S. numismatic auctions or dealer price lists. Savvy collectors just might be able to pick up some real bargains, especially of U.S. coins and currency offered for sale in other countries.

Perhaps you might even be able to save enough with a strong dollar that you might also consider a foreign vacation this year.

One country to avoid looking for bargains, without taking into account the current economic sanctions, is Russia. The U.S. dollar as of Tuesday this week had fallen 16.4 percent against the Russian Ruble.

Patrick A. Heller was honored as a 2019 FUN Numismatic Ambassador. He is also the recipient of the American Numismatic Association 2018 Glenn Smedley Memorial Service Award, 2017 Exemplary Service Award, 2012 Harry Forman National Dealer of the Year Award and 2008 Presidential Award. Over the years, he has also been honored by the Numismatic Literary Guild (including twice in 2020), Professional Numismatists Guild, Industry Council for Tangible Assets and the Michigan State Numismatic Society. He is the communications officer of Liberty Coin Service in Lansing, Mich., and writes Liberty’s Outlook, a monthly newsletter on rare coins and precious metals subjects. Past newsletter issues can be viewed at www.libertycoinservice.com. Some of his radio commentaries titled “Things You ‘Know’ That Just Aren’t So, And Important News You Need To Know” can be heard at 8:45 a.m. Wednesday and Friday mornings on 1320-AM WILS in Lansing (which streams live and becomes part of the audio archives posted at www.1320wils.com).