RCNH Market Update - July 2015

on 22 July 2015. Posted in News

Well I was ready, willing but unable to attend the summer Baltimore Show.  My reservations were in but my back was out!  I enjoy the summer show because it is not as well attended so the occasional deal surfaces.  But for this one, I will never know.  I heard the show was fairly dead but one great coin can turn a tough show into a good one.

What’s going on with the metals?  This question can be answered with dealings going on in China.  Whether they sold some of their gold or purposely understated their reserves, the price has dropped.  To me it’s opportunity.  The shift of gold from West to East does not bode well for the future.  Say what you will but historically it has been said that he who owns the gold, makes the rules.  If that’s the case, I am concerned about the Reserve currency status of the U.S. dollar and the ramifications for our economy.  The economic meetings in October could be significant for the world.

Metals are dropping but premiums are escalating and there is virtually no supply of silver to be had.  This flies in the face of economic sense.  Usually prices drop when there is an over-supply.  We tried to order 2 bags of junk silver and were laughed at!  I expected maybe two weeks out for delivery but this is the first time I could not place the order.  I gave a standing order to fill on one bag when it becomes available.  The premium on early U.S. circ gold is also rising.  My question is “who’s manipulating what?”  Don’t wait too long to price average, things could get dicey fast!

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Thank you.

Warren

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