Month: May 2019

Dr M moots currency backed by gold

Sirhc

Courtesy of FMT News

Prime Minister Dr Mahathir Mohamad speaks at the 25th International Conference on The Future of Asia in Tokyo today. 

TOKYO: Prime Minister Dr Mahathir Mohamad says Malaysia is proposing a new currency based on gold, as this would be more stable than the current currency trading which is manipulative.

He said the precious metal could be used to evaluate import and export activities among the East Asian countries.

“We can make settlements using that (new) currency (using gold). That currency must relate to the local currency as to the exchange rate, and that is something that can be related to the performance of that country.

“That way we know how much we owe and how much we have to pay in the special currency of East Asia,” he said during a dialogue session at the 25th International Conference on The Future of Asia (Nikkei Conference) here today.

Mahathir arrived in Tokyo last night for a three-day working visit.

He said the new currency could also be extended to countries outside the East Asian region.

Currently, he said, the global market is tied to the US dollar, which gives room for the currency to be manipulated.

“Just because that one country is affected, there is infection to the other countries. Malaysia was very stable way back in 1997… but because of the problems that occurred in Thailand (during the Asian financial crisis), they said we must peg the Malaysian currency also.

“What happened? The currency traders sold the Malaysian currency down and the value of Malaysian currency depreciated.

“It is not even the money that they have. They never had any Malaysian currency but nevertheless they were able to sell huge quantities of Malaysian currency and when it is depressed, of course they can buy and sell it at a higher price when it comes up,” he added.

“Currency trading is not something that is healthy because it is not about the (economic) performance of countries but about manipulation.

“Anything that you have in oversupply, we will lose value. Anything that is short of supply will increase in value so they sell huge quantities of money they don’t have, and because the amount is so big, there is depression of the value.”

Mahathir said if countries are downgraded or upgraded, it should be by an uncommitted international forum, not a country.

Here, he hit out at the US for “labelling” other countries.

“The US is fond of labelling that country as no good, this country as no good, and telling countries about ways to conduct their businesses.

1860-S Liberty Double Eagle PCGS MS61

Sirhc

Rare Mint State

 The 1860-S Type One Liberty double eagle claims a mintage of 544,950 pieces, a substantial production total in absolute terms, but slightly smaller than average for a San Francisco issue from this period. The coins were released into the channels of commerce, where they circulated heavily for many years, suffering the usual wear and attrition along the way. Few high-quality examples were saved by contemporary numismatists and the issue is rare in Mint State grades today. The current PCGS population is 16 with 12 higher. This particular example is a bit lighter and brighter than seen on our images. Listed at $16,300 in the CDN CPG and $12,000 in the PCGS price guide.

Offered at $10,750 delivered

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1866 Three Dollar Gold Piece PCGS MS64

Sirhc

Rare, Flashy Near-Gem

Struck shortly after the close of the Civil War, the 1866 three dollar gold piece was not saved in any meaningful quantity by collectors, and thus its low 4,000-coin mintage had more of an effect on high-grade availability than can be said of the mintages of later issues in the series. Mint State survivors are scarce across the board, but are notably rare above the MS62 level. The example offered here is highly lustrous and flashy, with a lovely overall appearance. The PCGS population is only 7 with 5 higher and if you were even able to locate an MS65 example, it would likely be more than double the price of this coin.  Listed at $16,300 in the CDN CPG, $13,000 in the PCGS price guide and $17,500 in Trends.

Offered at $12,850 delivered

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(800) 257.3253 
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1915-S Pan Pac $50 Round NGC MS66

Sirhc

The Panama-Pacific Exposition was authorized to sell up to 1,500 examples each of both the Round and Octagonal versions of the Pan-Pac fifties, and the Mint struck 1510 examples of the Round version, including 10 examples for the Assay Commission. Unfortunately, the high cost of the coins ($100 per coin) discouraged all but the most dedicated collectors, and only 483 specimens of the Round design were sold. The remaining 1,017 coins were melted after the close of the exposition. These rare gold commemoratives are avidly sought-after in today’s market.  NGC population of only 19 with 5 higher. If you’ve never held one of these massive and extremely impressive coins in your hand, you owe it to yourself to do so. Listed at $260,200 in the CDN CPG and $260,000 in the NGC price guide.

Offered at $209,000 delivered

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(800) 257.3253 
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Private, Portable, Divisible Wealth Storage

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Major Credit Cards Accepted, add 3.5%
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1854 Kellogg & Co. $20 NGC AU58

Sirhc

The California economy suffered from an acute shortage of coinage after the United States Assay Office closed in late 1853, until the San Francisco Mint began coinage operations on a large scale in 1854. Even after the Mint was officially established, shortages sometimes limited production, putting extreme pressure on the small supply of coinage available to meet the needs of the burgeoning economy. To fill the gap, John G. Kellogg partnered first with G. F. Richter in late 1853 and 1854, then with Augustus Humbert in late 1854 and 1855 to produce twenty dollar gold pieces, filling the gap of production between the closure of the U.S. Assay Office and the start-up of the new San Francisco Mint. NGC has graded only 131 pieces for all grades combined. Listed at $24,200 in the CDN CPG and $21,200 in the NGC price guide.

Offered at $18,500 delivered

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(800) 257.3253 
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Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check. 
Major Credit Cards Accepted, add 3.5%
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Choice Key 1911-D Indian Quarter Eagle NGC MS63

Sirhc

The 1911-D is the first of only three branch mint issues in the Indian quarter eagle series and it claims a mintage of just 55,680 pieces, a remarkably small production total for any 20th century coin. Accordingly, this issue is the rarest Indian quarter eagle and the acknowledged key to the series. Most examples seen are in lower Mint State grades. The one offered here is lighter in hue and more lustrous than seen in our images. Listed at $12,900 in the CDN CPG, $14,300 in the NGC price guide and $15,000 in Trends.

Offered at $12,100 delivered

We do business the old fashioned way, we speak with you.

(800) 257.3253 
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Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check. 
Major Credit Cards Accepted, add 3.5%
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Highly Original Looking 1805 4 Berries Draped Bust Dime PCGS/CAC MS63+

Sirhc

The dimes of 1805 are known only by two die marriages that share a common obverse, with a small spine protruding from the top of the 5 in the date. The reverses show four or five berries, with the present 4 Berries reverse having narrow A’s and leaves that are clear of the peripheral lettering. No date is better suited to represent the Heraldic Eagle type than the 1805 dime. Although this example is a bit lighter and brighter in-hand, if you like dipped white examples, this one is most assuredly NOT for you. On the other hand, it looks about as original as you are likely to find and a good number of collectors prefer such coins. Listed at $15,000 in the PCGS price guide.

Offered at $14,635 delivered

We do business the old fashioned way, we speak with you.

(800) 257.3253 
8:30 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check. 
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.