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Metals Market Report Weekly Archive
 

The Mike Fuljenz Metals Market Report

December 2018 - Week 3 Edition

Gold is Up 5%

During the Fourth Quarter (since September 30), Gold is up 5%, while the Dow Jones Industrial index is down 11% and the broader S&P 500 is down 12.6%, so gold has outperformed the S&P 500 by 17.6% since September 30. We have been advising investors since August to take some profits from the stock market to diversify into gold and rare coins. It is never too late to take that advice, but we certainly hope you took that advice during September or October, when it was much more profitable to make the move.  We are here to assist you so please do not hesitate to call us!

The Current Political Crisis is Helping to Push Stock Prices Down and Gold Prices Up

As we have been saying for the last several weeks, the drive toward impeachment is helping to push stock prices down and gold coin prices up, just like in 1972-74 and 1987 when impeachment threats faced Presidents Nixon and Reagan. President Nixon resigned before facing impeachment, and stocks fell 45% in 1973 and 1974, while gold soared. President Reagan was able to avoid any strong impeachment threats but there was still a major stock market crash during the hearings over the Iran-Contra scandal during most of 1987.

The scandal over Russia meddling in the 2016 election will probably amount to nothing when all is said and done, but all the press scandal-mongering is sending stocks down and gold up as we speak. Stocks fell sharply on Friday and again on Monday as we approach the sentencing of former national security adviser Mike Flynn this week.

This high drama will not let up over the holidays or into the New Year. The government may shut down next week. Europe is in chaos over Brexit, and a fuel tax in France, plus a banking crisis in Italy. We have entered an era in which chaos has become the norm, at home and abroad. You can expect to see the stock market in panic some days and gold rising more days than it falls, so make sure you plan your investment portfolio accordingly, with a 10% to 25% position in precious metals and rare coins.  Please call us today!

A Word About Quality Control and Our Coin Grading Acceptance Standards

I taught seminars and worked grading coins with the top graders at both of the top coin grading organizations – the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC).  I look at almost all of the graded coins that come into our company to make sure they fit our high standards. We don’t just sell all “coin holders,” relying on the grading companies alone like many other companies or sites. We don’t let the “sliders” and “tweeners” slide here. We buy from reputable sources.  We then sift through all coins carefully to ensure top quality. We reject a significant amount of coins and return them to the seller. At that point, they may be resold at a lower price elsewhere, but that does not mean the buyer is getting a “bargain” with that coin. You may pay a slightly higher price for the same-graded coin (or slightly less) here because we ensure that you will receive a top quality specimen in that grade.  A good friend and fine numismatist advises newcomers that “you may sometimes pay a bit more for the right coin, but you always pay too much for the wrong coin, a problem coin.”  Whether you buy an uncirculated Kennedy half dollar or an MS-69 American Eagle from us, you can rest assured we are expertly verifying each coin’s grade.  Thus, we also typically pay top quality prices to you when you later sell.

The “Ship of Gold” also Contained Small Coins (Dimes to Dollars) in the Ship’s Safe

When the S.S. Central America sank in 1857, it contained a treasure of U.S. Gold coins, but there was also a very large bag, about the size of a volleyball, found in the bottom of the unopened purser’s safe, which contained mostly U.S. silver coins. The majority of the money was in dimes, and it quickly became obvious that this was the “cash box” of the shipwreck itself, a truly marvelous historical find.

These dimes have survived without the corrosion seen on most silver coins found on shipwrecks. This is undoubtedly due to the oxygen-starved (anaerobic) conditions within the safe, a deep-sea time capsule. The safe was not water tight, but it essentially sealed off the interior environment from the outside seabed environment.  The result was that even the canvas bag holding these coins did not degrade significantly.

The thousands of dimes, along with associated larger silver coins (quarters and half dollars) and small gold coins (in $1, $2.50, and $5 denominations) made up the working money of the ship as it traveled between New York and Panama. The sailors of the labor class were paid one to three dimes per day.

There was a total face value of $1,586.55 in this bag of “ship’s money” when it was recovered. Back in 1857, the S.S. Central America was on its 44th voyage to Panama and back, since its launching in 1853. Since this was a well-established business, this money sack represents the life-blood of that business, its working capital. It is fascinating to see all of these coins that were in circulation. The dates on the dimes range from 1796 to 1857.  Holding these coins is literally like holding a piece of history in your hands.

Call us today to find out how you can own your piece of history while supplies last.  We anticipate the certified Central America dimes will arrive from PCGS in mid-January.  Get your name on our list to be called as soon as they arrive.  Other Central America products are currently in stock and available.

Shipment Delays

Due to high shipping volumes with the U. S. Postal Service, orders placed on our website after December 17th will not be delivered prior to December 25th.

We apologize for any inconvenience.

 

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Important Disclosure Notification
All statements, opinions, pricing, and ideas herein are believed to be reliable, truthful and accurate to the best of the Publisher's knowledge at this time. They are not guaranteed in any way by anybody and are subject to change over time. The Publisher disclaims and is not liable for any claims or losses which may be incurred by third parties while relying on information published herein. Individuals should not look at this publication as giving finance or investment advice or information for their individual suitability. All readers are advised to independently verify all representations made herein or by its representatives for your individual suitability before making your investment or collecting decisions. Arbitration: This company strives to handle customer complaint issues directly with customer in an expeditious manner. In the event an amicable resolution cannot be reached, you agree to accept binding arbitration. Any dispute, controversy, claim or disagreement arising out of or relating to transactions between you and this company shall be resolved by binding arbitration pursuant to the Federal Arbitration Act and conducted in Beaumont, Jefferson County, Texas. It is understood that the parties waive any right to a jury trial. Judgment upon the award rendered by the Arbitrator may be entered in any court having jurisdiction thereof. Reproduction or quotation of this newsletter is prohibited without written permission of the Publisher.

 

 

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