1875-CC $20 Liberty PCGS MS 62

Only 77 graded higher by PCGS and NGC combined

A lustrous beauty, sporting a fine strike and minimal marks – seldom seen in higher grade, as reflected in the population data. Perfect for a CC type set or the USA gold collector/dealer.

Offered at $18,975 delivered

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JP MORGAN WARNS: ‘DOLLAR COULD LOSE STATUS AS WORLD’S DOMINANT CURRENCY’

America’s largest bank sounds alarm in face of skyrocketing debt, rise of China

Courtesy of Infowars by Jamie White | JULY 24, 2019

IMAGE CREDITS: PONY WANG/GETTY.

JPMorgan’s Private Bank released a statement to investors warning that not only could the dollar lose its world reserve currency status, but could also “lose its status as the world’s dominant currency.”

In its July investment strategy report, America’s largest bank warned that the dollar’s “exorbitant privilege” as the world’s reserve currency could be “coming to an end.”

“The U.S. dollar (USD) has been the world’s dominant reserve currency for almost a century. As such, many investors today, even outside the United States, have built and become comfortable with sizable USD overweights in their portfolios,” wrote JP Morgan’s Commodities and Rates Strategist Craig Cohen.

“However, we believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments.”

The report goes on to say that the downfall of the dollar as the world reserve currency is inevitable given historical trends, and suggests allocating assets to other markets, particularly Asia.

“There is nothing to suggest that the dollar dominance should remain in perpetuity. In fact, the dominant international currency has changed many times throughout history going back thousands of years as the world’s economic center has shifted.”

In fact, JP Morgan’s Chairman of Market and Investment Strategy Michael Cemblast created a graph in 2012 breaking down the world reserve currencies since the 15th century in an effort to highlight the inevitability of the dollar’s decline as the global currency.

Notably, it seems to indicate the U.S. Dollar losing its status sometime in the early 21st century.

The report comes as President Trump and Congress agreed on a bipartisan two-year $2.7 trillion spending package that does nothing to address the bloated spending or national debt, and totally suspends the borrowing limit.

Economist Peter Schiff noted that the budget deal flies in the face of conservative principles of limited government and fiscal responsibility.

Trump finally managed to be the greatest at something. He has managed to negotiate the greatest budget deal disaster in history. No president has signed onto a worse budget deal than this. He sold it to Republicans as a victory. It’s a loss for Republicans and the Republic!

— Peter Schiff (@PeterSchiff) July 23, 2019

Additionally, central banks around the world, including China and Russia, hit a gold ownership-high in April, with gold purchases spiking by 75% in the last year alone to hedge against a volatile dollar.

As long as the dollar is backed by nothing but the Federal Reserve System of credit, countries around the world will continue to hedge against the dollar while the $21 trillion U.S. national debt keeps ticking up.

1839 Liberty Eagle NGC AU55

Rare Two-Year Type

This is the “Large Letters Head of 38” type, which is a distinct two-year type, which shows a more ornate portrait of Liberty on the obverse. The first issue of this two-year type – the 1838 -is far too rare in AU condition for most type collecting pursuits, as only 80 to 100 examples of that date are known. However, the 1839 (1839/8) Type of 1838 is a more comfortable acquisition in this high of a grade. About Uncirculated coins are still scarce, though, and collectors will have limited opportunities to acquire high-end examples. This one is more lustrous and flashier in hand. Listed at $12,100 in the CDN CPG and $10,500 in the NGC price guide.

Offered at $8,890 delivered

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1863 Three Dollar Gold Piece PCGS MS62

Tough Uncirculated. $3 Civil War Issue

The financial stresses and uncertainties of the Civil War caused widespread hoarding of all precious metal coinage during the war years. The U.S. government suspended specie payments in 1861, so gold coins did not circulate at par and there was limited demand for the three dollar gold piece in the national economy. Accordingly, only 5,000 three dollar gold pieces were struck in 1863, all delivered in one batch on November 21. Relatively few examples were saved and as might be expected, the 1863 three dollar gold piece is an elusive issue in all grades today. The PCGS population stands at 16 with 26 higher.

We have two coins available…

Offered at $11,875 delivered

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Donald Trump Announces ‘Real Compromise’ Budget Deal with Nancy Pelosi

Courtesy of Associated Press by Charlie Spiering

Budget Squad

President Donald Trump announced Monday evening that Republican and Democrat leaders in Congress had agreed to a budget deal that also raised the debt limit.

“I am pleased to announce that a deal has been struck with Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, Speaker of the House Nancy Pelosi, and House Minority Leader Kevin McCarthy – on a two-year Budget and Debt Ceiling,” Trump wrote on Twitter.

The deal would raise spending by $320 billion, according to reports, and suspend the debt ceiling until July 2021 — well after the 2020 election.

The president said that the deal, reached days before members of Congress leave Washington for their August vacation, had “no poison pills.” The deal also means Democrats will not try to block Trump from transferring federal funding to help build the wall on the Southern border

“This was a real compromise in order to give another big victory to our Great Military and Vets!” he wrote.

The bill still has to pass both houses of Congress this week in order to fund the government before the scheduled August recess before the president can sign it.

Pelosi and Schumer celebrated the agreement in a joint statement on Monday, praising the end of the sequester cuts set when Republicans were in the House of Representatives.

“We are pleased that the Administration has finally agreed to join Democrats in ending these devastating cuts,” they wrote.

In exchange for funding the military, Democrats won over $100 billion in domestic spending priorities.

“The House will now move swiftly to bring the budget caps and debt ceiling agreement legislation to the Floor so that it can be sent to the President’s desk as soon as possible,” the statement read.

1969 Gold Apollo 11 Lunar Medal NGC MS66 By LG Balfour Co.

Only a Couple Hundred Struck and Given to Members who Worked on the Apollo 11 Project

“That’s one small step for man. One Giant Leap for Mankind.”

We’ve all heard the words, and 50 years ago today was the day those words were spoken into the cosmos upon man’s first exploration to the Moon.

NGC recently announced that one of the Gold Robbins Medals that belonged to Neil Armstrong which flew on that historic flight sold for $2,055,000. Link here:https://www.ngccoin.com/news/article/7590/gold-robbins-medal-realized/

Now, this Medal was NOT space flown, but they were specially struck in gold and only given to people who WORKED on the Apollo 11 project. People that were all a part of one of the most historic moment’s in World history.

The obverse of the Medal depicts an Astronaut, presumably Neil Armstrong, boldly facing forward carrying the American flag. The date JULY 20, 1969 is seen in front, with the lunar landscape, lander and the Earth all in the background.

The reverse has the name of the three Astronauts who made that historic journey (Neil Armstrong, Michael Collins, Edwin Aldrin), Neil’s famous quote as he stepped out into the Sea of Tranquility, APOLLO 11 and a depiction of the slingshot approach the spacecraft took to the Moon.

It is struck from over a half an ounce of gold (18.17g). This could be the Finest we’ve seen of the issue and a nice piece to commemorate this milestone moment exactly 50 years ago today…

Offered at $6,900 delivered

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delivered

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

(800) 257.3253
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The Calm Before the Storm

Authored by Pater Tenebrarum via Acting-Man.com

Intra-Market Divergences Galore

US big cap stocks have rallied to new highs in recent months, but just as in the rally from the low of the February 2018 mini-panic to the September/October 2018 peak, sizable divergences between different indexes have emerged in the process. New highs in the big cap indexes (DJIA, SPX, NDX) are once again not confirmed by small caps (RUT), the broad market (NYA) and a number of sub-sectors (such as the DJTA which is included in the chart below; according to Dow Theory, the DJTA must confirm moves in the DJIA to validate its trend).

From the top: weekly charts of DJIA, SPX, NDX, RUT, NYA and DJTA. The recent new highs in the three large cap indexes have not been confirmed by small caps and the broad market. Note also the sizable RSI/price divergence in the DJIA (which is mirrored by SPX and NDX) – this is a sign of faltering momentum that is often seen ahead of trend changes.

We last discussed a “lengthy non-confirmation” in mid-September 2018 (see “US Equities – Approaching an Inflection Point”). Everything we said about the phenomenon at the time applies to the current case as well. In fact, it could well be argued that the current spate of non-confirmations is even more ominous as they are stretching over a time period of approximately 18 months by now (the broad market represented by the NYSE Index has yet to overcome its January 2018 peak).

US big caps are diverging from European and Japanese stocks as well, which have failed to reach new highs in the recent rally. It is also noteworthy that stocks and junk bonds have studiously ignored weakening macro-economic data in recent months – the rationale is apparently that an impending easing of monetary policy by Fed and ECB is more important than the economy’s poor performance and the prospect of lackluster earnings. The idea seems to be that a resumption of monetary pumping will immediately arrest and reverse recent economic trends, which is quite a leap of faith.

Government bonds and gold have rallied strongly as well this year, and while these markets also reflect rate cut expectations, they normally don’t move in the same direction as stocks for very long. It is a good bet that something will eventually give. Considering the recent yield curve inversion, investors buying stocks and corporate bonds are probably too sanguine about what lies ahead.

The Roaring 20s vs. Today

In April we briefly discussed parallels between the current time period and the late 1920s (see “A Trip Down Memory Lane”). What prompted us to look into this was the fact that the sharp correction in the (normally) seasonally strong October-December period last year was actually a spitting image of the late 1928 correction. As it turned out, this was far from the only similarity between the two eras.

Incidentally, market participants ignored a weakening real economy in the final stretch of the 1920s bull market as well: economic data deteriorated noticeably in the course of 1929, but that did nothing to curb the stock market’s advance – at least initially.

Two women studying the ticker tape in a stock broker’s office in St. Paul, Minnesota in 1929.

Below is a long term chart comparison as a supplement to the charts we showed in April. Interestingly, there is quite a strong resemblance between the stock market patterns of the 1914-1930 and 1997-2019 periods. The cyclical bull and bear markets of the two eras differ slightly in terms of extent and duration, but the basic patterns look remarkably similar.

It should be noted to this that chart pattern similarities are not unusual per se –   all liquid markets exhibit self-similar fractal patterning – both across different time frames and over different historical periods. At some point, these patterns will always diverge – particularly self-similarity between historical periods is usually quite limited.

It is fairly easy to find close correlations over time periods of one year or less, and more often than not they have no predictive value. Nevertheless, we find these long term pattern similarities quite interesting:

Booms and busts in the stock market from 1997 to 2019 and from 1914 to 1930. It is of course possible that the “acceleration phase” of the current bull market still has further to go, but the increase in market volatility, weak money supply growth, historically high valuations and the divergences discussed further above all suggest that a trend change is probably not too far off.

Conclusion

The divergences between the different indexes at the very least represent a heads-up that another correction is likely to begin fairly soon. In view of the increase in market volatility since the January 2018 peak, the next downturn will probably be quite a doozy again.


1911 Saint Gaudens Double Eagle PCGS MS65+

Satiny Sashaying Saint

The 1911 claims one of the few mintages of less than 200,000 coins, but the story of its availability is similar to that of other issues in the series. Most examples were exported to European markets, either directly from New York to London or through Ottawa, Canada. Those pieces that avoided melting overseas were subjected to rough handling, explaining why nearly all 1911 double eagles are found in MS64 or lower condition. Gems such as this, are scarce. The PCGS population is only 14 with 19 higher. Listed at $21,500 in the PCGS price guide.

Offered at $18,975 delivered

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1885 Liberty Nickel NGC MS67

Pop 3, None Higher Key Date Lib Nickel

 The 1885 has been recognized for more than a century as the coin to have, the key to the set of Liberty nickels. Only 1.4 million pieces were struck and pieces were set aside shortly after this tiny mintage became known; although by the time the general public was aware of it most coins of this date had been in circulation for some time. The availability of the 1885 shows a typical bell curve. At NGC, MS60 pieces show only two pieces certified, numbers gradually increase to the MS64 grade, then quickly taper off to the ultimate grade of MS67. The NGC population is just three (one of which is a star-designated example) with none higher. Listed at $38,700 in the CDN CPG and $25,000 in the NGC price guide.

Offered at $20,700 delivered

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1914-D Lincoln Cent PCGS MS65RD

Positively Perpetually Popular

The 1914-D Lincoln cent is a key issue in the series, from a low mintage of 1.1 million pieces. Unfortunately, despite the low mintage figure, the 1914-D was largely overlooked by contemporary collectors and few high-quality examples were saved at the time of issue. The date became better known and highly sought-after in the 1930s, with the advent of coin albums and the Standard Catalog. By then, most examples had circulated extensively and few would grade better than Fine-Very Fine by today’s standards. The PCGS population is 65 with 17 higher (with 10 of those 17 being 65+ pieces). While the population might not be extremely low in terms of absolute numbers, it’s small when you consider the vast number of Lincoln Cent collectors. Listed at $15,000 in the PCGS price guide.

Offered at $14,400 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%
Offer subject to availability.