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| (Continued from page 1) flows into those economies, it is likely increasing demand for all commodities will drive up the price of raw materials. Since hoarding precious metals is culturally ingrained among the populations of both those countries, expect demand on those areas to continue strong. The upward movement in oil prices, traditionally tied to the gold price should provide additional thrust. This scenario is not without its dangers. The improving production capabilities throughout Asia will likely hurt our trade balance. Higher commodity prices, particularly in oil could further weaken the dollar over the long run. While that may hurt our economy in the short term, it should
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| Pattern Coin and Currency Update |
| Rare Coins and the Economy (cont’d) |
| Customized Numismatic Portfolios |
| provide a strong incentive for alternative energy development industries, which could prove a superb export. This in turn should make American products less expensive for growing markets, and might therefore act as a check on our balance of trade, and a surge to some sectors of the U.S. economy. This bodes favorably for rare coins and collectibles, and should support a strong bull market for coins well into the future. |
| The market for pattern coins has temporarily slowed down. I see two main reasons for this. First, the strong upsurge in gold bullion has shifted attention to the long dormant gold coin area. Second, pattern prices have risen significantly over the last five years, and have reached a pause point, where supply is low, but prices are not high enough to force out the best material. Despite this pause in pattern coin buying and selling, the long term prospects for this still undervalued area remain outstanding. Good pattern coin deals - hard to find these days – are snapped up immediately. The outlook for currency is not much different. The initial publication of Currency Values Magazine by Coin World is certainly adding fuel to the ever increasing general collector interest in collectible currency. Thus, while demand remains steady, and prices push upward, the industry wide focus on gold coins is drawing attention and money away from currency. As with Pattern coins, now is a great time to buy currency for the long term. It is inevitable that gold will have its run, at which time attention will shift back to other areas of the market. Both patterns and currency will likely benefit greatly when this happens. |
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