Just got this,of some interest:
Rare Coin Update - This week's update comes to us from Merick Sherline,
who has 31 years of experience in the Rare Coin industry
We are nearing the end of the collection phase of the newest rare coin
market and therefore areas of that market are becoming quite scarce.
However, with many coins remaining undervalued in the marketplace, there
are still areas for hardy growth, as in the available proof types and
proof sets. As the financial news both abroad and from domestic
markets becomes increasingly scary, some of these coins have shown
remarkable strength over a relatively short period and show every
indication of continuing to do so. We have observed a sturdy collector
base for gem condition coins as of late with an increase in high quality
rarities. This may also be a result of other previously more active
areas of the market unable to satisfy collector demand.
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Retail Rare Coin Price Update as of September 9, 1998
Mint State 64 Liberty $ 1,450.00
Mint State 65 Generic Morgan Silver Dollar $ 130.00
Proof 66 Barber Quarter $ 3,525.00
Mint State 63 Generic David Liberty $ 840.00
Proof Type Gold Proof 65 Generic $ 11,800.00
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Gold, Silver and Platinum Update by Pat Mershon
Gold Spot closed Tuesday 9/15/98 at $289.70 per ounce. The one-year
monthly moving average is $295.30.
Gold Technical: The short-term momentum is up, while the long-term
momentum is down. Gold is barking at its overhead resistance like
it wants to take a bite out of it! Gold is holding above the lows
of the past 20 years ($270.00 to $285.00) after a slight drop below.
Gold Comment: A great deal has happened over the last two weeks. Gold
has moved strongly to the upside and all the major foreign currencies
have moved up dramatically against the dollar. The British Pound
continues a methodical move up against the dollar, which it started
back in April of 1994. The D-Mark, after a strong move to the upside,
stands poised to show us a prolonged period of strength, with the
possibility of continuing into the future till the new Euro Currency
replaces it. Even the very weak Canadian Dollar and Japanese Yen,
although faced with many problems, have shown real strength against,
dare I say it, the dollar. There are many people that believe the new
Euro Currency will push a lot of dollars out of Europe, forcing those
same dollars back home, thus reducing the purchasing power of a dollar.
Last time something like this occurred was February 1985 and it caused
the dollar to start sinking, and to continue to sink for years.
Stocks in general remain unbelievably over priced and I expect to see
the big funds selling into strength and moving away from stocks. For
safety's sake, allocate a portion of your portfolio into Gold.
Silver Spot closed Tuesday 9/15/98 at $4.95 per ounce. The one-year
monthly moving average is $5.59.
Silver Technical: Both short-term and long-term momentum is down, yet
silver is behaving well in the $4.65 to $5.00 range.
Silver comment: Here is the truth about silver. When I used to go to
our vaults all I could see was silver. A ton of silver had to be moved
in order to get to anything in the vault that was not silver. That was
before the big hitters came into the market a year ago and started
accumulating silver by the megaton. Now, some of the wholesale
suppliers I purchase silver from cannot keep enough silver on hand to
meet our demands, and I see little change in this situation. The word
is out, and somebody somewhere is buying up a great deal of silver. I
would not be at all surprised to see the silver monster take a run at
the recent $8.00 level by the end of next year and even exceed it by a
considerable margin, maybe even as high as $15.00.
My belief is that Silver can hit those numbers without a Y2K problem.
Add in the fact that there is a Y2K problem, along with a possible
financial panic, and the sky is the limit. Massive amounts of silver
are being purchased in the form of coins for people who want small
denominations of real money to barter with should the Y2K problem get
out of control. Everyone should own a small amount of silver coin for
emergencies; the price increasing is irrelevant. It is for security
and peace of mind.
Platinum Spot closed Tuesday 9/15/98 at $365.00 per ounce. The
one-year monthly moving average is $387.00.
Platinum Technical: Platinum is extremely choppy. The short-term
momentum is down, as is the long-term momentum. I would prefer to
buy it above the average.
Pat Mershon has over 23 years in the precious metals and rare coin
market. An expert Technical Analyst, Mr. Mershon has been head of
operations at Swiss America for the past fifteen years.
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Dear Real Money Perspective Newsletter subscriber,
As part of our effort to inform people about the problems surrounding
Y2K we are pleased to announce that we are a sponsor of Discovery
Institute's conference "Y2K Versus American Prosperity: Liability and
the Links."
This conference will be held September 24, 1998 in Washington, DC at
the Ronald Reagan Building International Trade Center located at
1300 Pennsylvania Ave. NW, from 8:30 a.m. to 5:45 p.m. Unlike other
Y2K events, this conference will focus not on business technology
processes, but rather on the links between software and hardware
failure and America's overall economic security.
Among other things, the conference will explore what actions need to be
taken in the areas of liability and insurance to encourage
private-sectorinformation sharing. Honorary co-chairs of this conference
are US Senator Slade Gorton from Washington State and US Representative
Steve Horn from California, Chair of the House Subcommittee on
Government Management, Information and Technology.
Featured speakers include US Senator Robert Bennett from Utah, Chair of
the Senate Select Committee on Y2K, Rich Bergeon, Co-author,
"Managing 00: Surviving the Year 2000 Computing Crisis", Discovery
Institute Senior Fellow and well-known technologist George Gilder,
Victor Porlier, Internet Y2K Columnist, Steven Kolodney, Chair of the
National Association of State Information Systems Executive (NASIRE),
and Janet Abrams, executive director of the White House Office of Year
2000 Conversion. I hope you will all consider attending this unique
event.
For a complete agenda and list of speakers go to
discovery.org For registration information call
Columbia Resource Group at 1-800-667-1478.
------------------------------------------------------------------------
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