This Is What Gold Does In A Currency Crisis, Brexit Edition

In June the UK shocked the world – or at least the world’s elites – by voting to pull out of the European Union. Economists predicted disaster, EU leaders threatened pain for British exporters and tourists, and the media settled in to watch the UK shrivel and die. Four months later, the appropriate response is a yawn rather than a scream.
The Market Oracle

US Banknote Production Reaches 720.5 Million in September

Banknote production in September dipped from a month earlier but the combined value of the notes was higher, data from the agency that prints U.S. currency shows. 720.5 million in $ 1s, $ 5s, $ 10s,…

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Coin News

1974-S cent in change gets my attention

I received a 1974-S cent in my change a week or so ago

It impressed me.

I had never gotten one in change before.

The magic of the mintmark is still strong for my generation.

It is that very same magical appeal that killed off circulation San Francisco cents 42 years ago.

In 1968, the “S” mintmark reappeared after having gone missing due to the closure of the San Francisco Mint after the 1955 issue.

The S-mint was pulled back into service making coins during the 1960s coin shortage, so the “S” mintmark returned on cents and nickels in 1968 when the 1965-1967 mintmark ban ended.

Then a new crisis struck the cent.

Rising copper prices caused people to hoard the coins.

Spot shortages concerned and irritated the Mint.

By 1974, it was testing aluminum as an alternative composition.

Collectors of the time still loved “S’ mintmark cents and obtained and saved them in large quantities.

The Mint decided that S-mint cents did nothing to combat cent shortages because collectors scooped them up as fast as they were issued.

That perception might be disputed, but the Mint acted.

Circulation strike “S” cents came to an end.

Was the Mint wrong to do this?

The fact it has taken 42 years for me to see one in circulation is probably anecdotal proof that the Mint view in 1974 was the correct one.

Now, so many years later, I often wonder if anyone other than myself is still checking cents in change.

I know there are those who hoard all 95-percent copper coins they get dated 1982 and earlier.

But what about collecting?

I asked that question of a local coin dealer yesterday when I sat with him at the lunch counter.

He runs low-key regular auctions.

He says he routinely puts partially filled Lincoln cent albums up for sale.

They still cause a stir among bidders when offered, he said.

Apparently, there are still many out there like me who are interested in their cents.

I don’t put them into albums anymore.

That is probably my loss.

But I am glad to hear that others still do.

Buzz blogger Dave Harper has twice won the Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper “Numismatic News.”

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The post 1974-S cent in change gets my attention appeared first on Numismatic News.

Buzz – Numismatic News

Popular coin shop loses its lease; to close next month – Reno Gazette Journal

Reno Gazette Journal
Popular coin shop loses its lease; to close next month
Reno Gazette Journal
“Just to have the basic facilities we have now, with all the security systems (and safes) we need, so we could provide our customers with the services they have come to expect would require a substantial investment of time and money on our part,” she

rare coin collecting investment – Google News

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The US Sent a Warning Message to Putin

BY JACOB L. SHAPIRO : US Vice President Joe Biden went on NBC’s “Meet the Press” recently and said the US was sending a message to Russian President Vladimir Putin.  Biden’s words come after the US released a statement that it was “confident that the Russian Government directed the recent compromises of e-mails from US persons and institutions, including from US political organizations.”
The Market Oracle

Chinese miners in talks for stake in Barricks Veladero mine, Reuters says RSS Feed – 24hGold Editorials and commentaries

3 Reasons Ex-Wall Street Trader Jared Dillian Is Stock Market Net Short Today

BY MAULDIN ECONOMICS : Take profits and batten down the hatches. That’s the advice of former head of ETF trading Jared Dillian. He believes equity markets are likely to see a rough ride in the next few months. In a recent interview with Mauldin Economics, Dillian elaborates on three red flags that make a case for a near-term pullback in stocks. Dillian first notes that “the price action is really not that good” in various financial markets.
The Market Oracle

Silver Prices in an Exponential Financial System – Gary Christenson RSS Feed – 24hGold Editorials and commentaries

Globalization Faces Challenges

For much of the second half of the 20th Century, and even into the new millennium, "Globalization" was the dominant theme used to describe the drift of the world economy. It was widely considered both natural and inevitable that the world economy would continue to integrate and that national boundaries would become less constraining to commerce and culture. And with the exception of the eternal "anti-globalization" protesters, who robotically appeared at large gatherings of world leaders, the benefits of globalization were widely lauded by politicians, corporate leaders and rank and file citizens alike. But a casual glance at the world headlines of 2016 suggests that the belief in globalization has crested, and is now in retreat. What are the consequences of this change?
The Market Oracle

US Mint Sales: Reagan Chronicles Set at 28,083

Ronald Reagan Coin & Chronicles Sets climbed 3,190 during their first full week of sales, according to the latest U.S. Mint figures, raising their total to 28,083. Unlike sets from last year…

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Coin News

Americanism that once was: Solutions What happens when the countryside is destroyed – *V RSS Feed – 24hGold Editorials and commentaries

4 Incredible Market Forecasts You Have to See to Believe

Dear reader, Consider the common thread among these four market calls: Forecast 1: A two-month, double-digit rally in a blue-chip stock index, even as investor sentiment hit a negative extreme last seen at the epic market lows of March 2009.
The Market Oracle

Gold and Silver Futures Slip from 3-Week Highs

Precious metals futures declined Wednesday, with both gold and silver sliding from more than three-week highs. Gold for December delivery declined $ 7, or 0.6%, to settle at $ 1,266.60 an ounce on the…

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Coin News

How Trump Wins

This article originally was published here: https://www.wealthdaily.comarticles/how-trump-wins/8393

Back in 2001, I was working with Angel Publishing President Brian Hicks looking for turnaround stories.

The U.S. had just been hit with the bursting of the Internet bubble and the 9/11 recession. Alan Greenspan had cut rates, and Brian and I were convinced that the U.S. economy was due to rebound. We were looking for really beaten-down companies that could turbo-charge their recovery by refinancing debt at a lower rate. 

Of course, that’s a ho-hum trade now. The Fed’s low interest rates lost their effectiveness a long time ago. But back in 2001, this was a fantastic catalyst for a stock.

One of the stocks we found was an old-school packaging company called Crown Cork & Seal (NYSE: CCK). The company was in bad shape, debt was very high, and the recession was just killing the company. Bankruptcy seemed like a real possibility. Except that Crown had great assets and a solid business. All it needed to do was get its debt payments down, and it would have no problem surviving. 

Seems like we recommended the stock at $ 1.50. Sure enough, Crown Cork & Seal was able to refinance its debt. 

By April 2002, it was a $ 10 stock. I remember some readers writing in to tell us they made as much as 750% gains. Today, the company is called Crown Holdings, but the ticker symbol is the same. 

Around the same time, Trump Casinos came up in our debt screens. So we checked it out…

A Lesson in Failure

At the time, Atlantic City was the only real gambling alternative to Vegas. Casinos had been very successful but were also very beaten down at the time. Gambling is one of the first luxuries that Americans cut when the economy is in recession and times are tough. And Trump Casinos was the most beaten down of the group.

I won’t bore you with a blow-by-blow account, but the entire history of Trump Casinos was really just a textbook example of overpaying. Trump overpaid for property, and he overpaid for loans in the form of bond sales. He routinely sold bonds that carried 14% and 15% interest rates. 

As early as August 1990, New Jersey regulators saw the trouble brewing and warned then that “the possibility of a complete financial collapse of the Trump Organization was not out of the question.”

Trump repeatedly came close to defaulting — one time his dad bailed him out to the tune of $ 3.3 million. 

Trump took his casino company public in 1995, raising over $ 100 million when his company was literally weeks away from bankruptcy. Once public, he sold more stock and more junk bonds to raise cash. As a public company, Trump Casinos did nothing but lose money — $ 66 million in 1996, $ 42 million in 1997, and $ 40 million in 1998.

Beginning in 1997, his share of the Atlantic City gambling market began to slip from its peak of 30%. Revenues at other Atlantic City casinos rose 18% from 1997 through 2002, but revenues at Trump Casinos fell by 1%.

So yeah, the company was headed to chapter 11 bankruptcy for the third time. 

But before he declared bankruptcy, Trump tried to hold his investors hostage. He told them if they didn’t refinance all his debt for 50 cents on the dollar, he would declare bankruptcy. They refused, and Trump went to bankruptcy court. The 2004 filing shows about $ 1.8 billion in debt, with an interest rate of 15%.

So, if the goal of a businessman is to simply enrich himself at the expense of everyone else, including the company itself, then I guess Trump really is a success. But if the goal is to create stable, growing businesses, then Trump has failed. ]

Trump Vodka and Trump Air

Today, there are no casinos in Atlantic City that bear the Trump name. They’ve been torn down or sold for pennies on the dollar. 

And the same is true for most of Trump’s business ventures: Trump Steaks, Trump Airlines, Trump Magazines, Trump University… the list goes on and on…

Donald Trump has carefully groomed his image as a great businessman. But it’s not really true. If all your business ventures fail, well, it means you’re just not that good at business. That’s how it is for Donald Trump. He’s not a good businessman. And yet Trump has been able to easily and safely make millions for himself and his family.

How has Trump done this? Well, as it turns out, he is a fantastic investor. Again and again, Donald Trump has pulled market-beating profits out of the stock market. 

How did Trump choose the investments that would make him so much money? Well, you have to remember that Donald Trump made his fortune in real estate. He’s a real estate guy. And the lessons he learned from real estate apply directly to stock market investing.

I’ve dug through Trump’s filings to get the details. Over the last few years, Trump bought 45 stocks. Of those, 40 were winners. The biggest was up 199%. That’s pretty good.

Tomorrow, I’m going to release a special report detailing Trump’s investment strategy. It’s very effective, and anyone can use it to put the odds in their favor.

So stay tuned — you’re going to want to see this.

Until next time,

Until next time,

brit''s sig

Briton Ryle

follow basic@BritonRyle on Twitter

An 18-year veteran of the newsletter business, Briton Ryle is the editor of The Wealth Advisory income stock newsletter, with a focus on top-quality dividend growth stocks and REITs. Briton also manages the Real Income Trader advisory service, where his readers take regular cash payouts using a low-risk covered call option strategy. He also contributes a weekly column to the Wealth Daily e-letter. To learn more about Briton, click here.

This article originally was published here: https://www.wealthdaily.comarticles/how-trump-wins/8393

How Trump Wins originally appeared in Wealth Daily. Fortune Favors the Bold

Wealth Daily

Russia to sell gold amid budget problems, Pravda reports on source basis RSS Feed – 24hGold Editorials and commentaries

Collectibles: Your Shelter From Volatility – ValueWalk

Collectibles: Your Shelter From Volatility
Geoff: Unless you wish to start collecting coins, rather than investing in them, it is not advisable to try to put together “sets.” Often, a set will include less rare coins that are not of investment quality, and therefore less likely to increase in

rare coin collecting investment – Google News

Indian, Chinese love affairs with gold turn financial RSS Feed – 24hGold Editorials and commentaries

The Next big Catalyst for Stocks and Commodities

We’re about to enter that time when financial commentators offer up their best guesses as to what investors can expect in the Near Year.  It always makes for fun reading, but it also never fails to disappoint.  Instead of engaging in that tired exercise in futility, investors would do better to focus on something more productive.  And that would be next year’s most likely catalyst for stock and commodity prices.
The Market Oracle

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