Pre-Christmas Market Update 12/17/2012

on 17 December 2012. Posted in News

Metals are drafting down a bit and this trend may continue for the foreseeable future.  I attribute this to concern about the fiscal cliff and Eurozone uncertainty.  Joe and I were discussing this today and I believe that during an emergency, when liquidity becomes a concern, gold and silver will be liquidated as a last resort.  With deficit obligations closer to $90 trillion, not $16 trillion, it’s just a matter of time before the bomb drops.  Use this as a price average opportunity.

When we came back from Baltimore, I went through our retail inventory and sent in 29 coins to CAC.  Just got the results and “only” 28 of them CAC’d and not one gold sticker.  I guess I’m slipping.  I really like 19th Century Type and MS-64 or better numismatic gold at these levels.  A counterfeit bullion scare will act as catalyst for rare coins, watch for further news.

Best,

Warren

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