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Long-deposed monarchs' money is still good
6:05p ET Monday, November 12, 2018
Dear Friend of GATA and Gold:
Coin and bullion dealer USAGold's November News & Views letter has been posted, with reports on central bank gold demand, record bullion bank short positions in the monetary metals, gold price predictions, and an insightful quotation from Confucius:
http://www.usagold.com/publications/NewsViewsNoVbr2018.html
But perhaps just as interesting is a new special report from USAGold about numismatic coins:
http://www.usagold.com/publications/NewsViewsNoV-18SpecRpt.html
Over the years you may have heard a lot of sneering about numismatic coins, and surely they have generated a lot of hype, if not quite as much hype as has been generated by gold and silver mining shares.
... Dispatch continues below ...
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Even so, numismatic coins may have a few advantages.
First, as they were back in the 1930s, they likely would be exempted from another gold confiscation in the United States and from capital controls.
For the U.S. government's official position on gold confiscation, visit the confiscation section of GATA's internet site here:
http://www.gata.org/taxonomy/term/22
Second, numismatic coins -- coins with world history to them -- can be so interesting. They can teach.
At least the typical numismatic coin is a reminder that while kings, queens, emperors, empresses, and crowned (and swelled) heads may be long gone, some of them even having been decapitated or shot by their own people, their money is still good because it had intrinsic value and was without counterparty risk.
Numismatic coins also can teach about national sovereignty, politics, and language.
And third, in nearly all cases that money is not only still good but has increased in value in real terms.
So enjoy the report even if you're not in the market today for anything but hamburger.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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