Tom Burroughes, Group Editor , London, 22 July 2020
The Swiss private bank sets out the reason for holding the yellow precious metal in portfolios. The commentary is another turn in the debate about the role gold should play in wealth management.
The case for gold often arises when risks appear to be higher than normal, or when fears erupt that the value of government “fiat” money is going to erode. Massive central bank quantitative easing – aka money printing – and the impact of the global pandemic create plenty of risks in the investor’s mind, even if it turns out that central bank new money gets mopped up before problems arise. This is a classic “safe haven” asset. Debate remains: the very time that a person might want to access their gold might be a time when governments try to seize it – as happened during the 1930s in the US.
The 1838-C quarter eagle is an extremely popular coin among early gold enthusiasts. It is a first-year-of-issue and one of just two Charlotte quarter eagles that use the Classic Head, obverse mintmark design. All known examples exhibit a re-punched mintmark, that was initially entered too low. Writing in his Charlotte Mint gold coins reference (2008), Doug Winter says the 1838-C quarter eagle “Usually seen in VF and EF grades, it becomes very scarce in properly graded AU55 to AU58 and rare in Uncirculated.” NGC has recognized only a dozen uncirculated pieces.
Offered at $15,500 delivered
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Far from being mired in the summer doldrums, precious metals markets appear to be on their way to making this summer one for investors to celebrate. $20+ silver and new record highs for gold are both well within reach.
Even as the big tech stocks that make up the Nasdaq are posting rip-roaring gains, the best performing sector of 2020 has actually been the gold miners. The HUI gold mining stock index is up 30% year to date – and up over 90% since bottoming in March.
Investors who bought just about any stock market sector near the climax of the panic selling have since been able to make big gains. But valuations are now becoming stretched while the earnings picture for most companies remains shaky.
Perhaps equities will be able to ride the rising tide of liquidity provided by the Federal Reserve to still higher heights. But Michael Howell, the CEO of Crossborder Capital, urged CNBC International viewers to consider diversifying into gold.
Here is a most impressive survivor from among this moderately low-mintage San Francisco issue – the 14th lowest mintage of the series. While its ranking makes sense when discussing circulated coins, when strictly uncirculated examples are considered, the issue is among the scarcest all ten-dollar Indians. Additionally, it’s seldom available with both problem-free surfaces and in high grade. This one features lovely color and a highly pleasing overall appearance.
Similar to other S-mint Indian tens, the 1914-S is a significant condition rarity. This issue saw a mintage of 208,000 pieces and is relatively easy to obtain in circulated grades. Most Mint State examples grade MS60 to MS63, and are obtainable with patience and searching. Near-Gems are scarce and MS65 and finer pieces are rare. The PCGS population is only 12 with 2 graded higher (one of which is an MS65+). That helps to explain why we have not auctioned a PCGS MS65 since way back in 2007! This one features lovely color and a highly pleasing overall appearance.
Offered at $36,950 delivered
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Impressive large gold 1000 Colones from the nation of Costa Rica
Weighing in at an impressive 4.3124 ounces of fine gold, they are the gold bug’s delight. Two proof coins are available, one graded by NGC and one raw, in a custom Capital Plastic holder.
Celebrate Central American Independence with a stunning pair – They are priced to sell here
Offered at $8,200 delivered (Based on gold spot of $1,725 and price is subject to change with gold values)
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According to Doug Winter, from an original mintage of 29,392 pieces, the 1841-D Liberty half eagle is estimated to have a surviving population of approximately 150-175 specimens in all grades combined. These numbers are quite small in an absolute sense. However, in circulated grades, at least, this issue is actually one of the more available ones in the series, as the supply of many other dates is even smaller. A scratch in the right obverse field might be all that’s keeping this coin from a higher grade (and considerably higher value). In hand, it’s even more appealing looking than seen in our images. The NGC pop report shows just 3 at this grade, with 3 higher.
Offered at $21,950 delivered
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To begin with, the importance of the 1851 $50 gold coins can scarcely be overemphasized. Ask any advanced collector of Territorial gold to name the most significant and memorable coinage design from the early California Gold Rush period, and the Humbert-U.S. Assay Office octagonal $50’s will likely be the first named. For many years, the 1851-52 Humbert-Assay Office fifties remained the only large octagonal gold coins struck under the auspices of the United States (in this case – provisional) Mint. Although later, California private coiners struck round $50 coins. The importance of these coins is such that even well-circulated examples are bid up to high levels by enthusiasts eager to lay hands on these colorful mementos of the Wild West, the Gold Rush, and the famous “Forty-Niners” who rushed to seek their fortunes in the fields of gold in 1848-49.
1851 “880” No “50’ Humbert $50
Offered at $155,000 delivered
1851 “887” Reeded Edge Humbert $50
Offered at $120,000
Or buy the pair for $270,000
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With the new coinage designs of 1907 and 1908, the mint recognized these coins could not be produced by the conventional brilliant proofing method. Their solution was to sandblast the coins, producing a matte surface; a finish that had been applied to some mint medals for decades. However, the mint’s main customers for proofs were coin collectors, and collectors were generally not familiar with the matte proofing technique or appearance. The result was general dislike by the collecting community and dwindling sales for proof gold until the final year in 1915. There were 236 proof quarter eagles produced, and it is estimated that 100 to 120 pieces are extant today. The sandblast surfaces on this piece exhibit the khaki-brown color this date is known for. The PCGS population is 18 with 11 higher.
Offered at $34,500 delivered
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When one just looks at the mintage of 73,700 pieces, the 1878 would appear to be moderately scarce, but nothing would tip off the collector to just how rare it actually is in higher grades. Our records show that we’ve auctioned only six MS64/64+ examples in the past ten years, attesting to the issue’s extreme rarity at this grade level. This one is particularly well struck. The PCGS population is just 3 with 1 higher.
Offered at $13,500 delivered
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Though normally associated with hedonistic excess and debauchery, Nero’s first years were actually a relatively peaceful time in the empire. Nero began his rule at the tender age of 17 with much promise – his mother Agrippina Jr. was regent at first, until he began to assert his independence the following year. With the government largely in the hands of capable administrators like Seneca and Burrus, Rome enjoyed peace and prosperity for the first five years of Nero’s reign. Things began to take a turn south for his reign, however, with his involvement in the murder of his mother in 59 and the subsequent shedding of his key advisors Seneca and Burrus in 62 AD. He also divorced and executed his wife Claudia Octavia in that fateful year. So, at the age of 25, Nero had reconstructed his life, shedding moderating influences on his activities – he was now able to pursue his interests in acting, carousing, various persecutions, chariot racing and random sexual adventures – in short, he was becoming the Nero we all know and love.
Probably most shocking to the populace, however, was the Great Fire of 64 AD, where it was thought that Nero had started it to clear out large portions of prime Rome real estate to build his ostentatious palace. With much of Rome destroyed and his grand palace usurping the dwindling financial resources of the empire, conspiracies began to form against the emperor. His stage antics, poetry readings and singing and dancing had never been particularly well received by the populace, anyway, who not only viewed his talents as marginal, but also saw them as not dignified for an emperor.
Nero embarked on a “Grand Tour” of Greece in AD 67, where he participated in the Pythian, Nemean and Olympic Games – as Vagi notes, Nero was declared victor in the latter, even though he fell out of his chariot mid-way through the race!
With Imperial finances stretched to the limit with Nero’s excesses, the populace finally had enough and forced Nero to flee to his country villa on the outskirts of Rome. On June 9 of 68, surrounded by hostile soldiers, Nero uttered the famous dictum, “what a great artist we are losing”, and died in a murder/suicide situation. Not long afterwards, Rome descended into civil war.
Always conscious of his artistic portrayals on the coinage, Nero took special efforts to ensure favorable images and favorite musical themes, such as him playing the lyre. The austere portraits of his predecessors gave way to naturalistic poses and a realism previously unseen
An Extremely Fine aureus and an AU hemidrachm are on offer here today, providing splendid examples of his portraiture and reflecting the high artistry of his coinage in general.
Offered at $9,550 delivered
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