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.