Are You Buying?

Considering the fact that most of us have been buying silver (and gold, for that matter) for some time and that silver has more than doubled it price since last summer (2010), I would say that things are looking up for the coin collecting community, both base value and numismatically speaking.

And speaking of numismatic values, I hope that the new Red Book (Whitman) reflects the rapid rise in values that has taken place over the past twelve months. Your collections once regarded as chump-change, gentlemen, are the stuff "that dreams are made of."

I don't recall if they did the coins as well. Do you recall? Some have said when countries devalue by basically dropping zeros coins stay

I found no info on any 1992 peso crash. Everything seems to be about a 1994 "crash" where the peso went from 4 to $1 to 7.2 to $1 and then stabilized at 6 to the dollar after a $50B aid package was put together by Robert Rubin. While the US congress did not much like this deal, it was repaid on time and the US ended up making a $500M profit on it. Shrug.

Interesting. I'll check on that.

My folks had some money in a Mexican bank that was paying them close to 30% interest. This was back in the early 1980s, IIRC. Shortly after hearing that they had made this investment, I read a Wall Street Journal article at work that said many Mexican citizens were sending their money to banks in Nicaragua. HOLY COW!, I thought. Nicaragua was fighting a civil war at the time. That made me sit up and take notice. What was it about Mexico that made its citizens prefer to have their money in a country that was in the middle of a civil war, rather than keep it in Mexican banks. I called my folks and suggested that they withdraw their money immediately. My Dad was convinced that it would be OK. My Mom wasn't so sure. A few days later, she withdrew their money without telling Dad. A couple of months after that, there was a substantial peso devaluation and most of the foreigners investing there took a financial bath. I suppose that the locals did too but didn't know any at the time. Dad was pretty glum about losing their money but perked right up when Mom fessed up about pulling the money out of there. After that experience, he let her manage the family money.

Yep, such a deal. Personally, I would not have touched that deal with a stick but that was their idea of a great investment. It's not easy raising parents, ya know?

Well I also told myself mo more silver I have enough probably to much but if it does drop to $27 this will be tempting as I do feel the Euro is doomed and when it crashes gold and SILVER will take off to new highs again.

So 40 more ASE would be tempting if it does drop even more today I will be watching it.

An interesting thought and you could well be right about this. What concerns me, though, is that the Euro zone IS flailing now, yet all PM prices are getting hammered. One would think that a lot of Euro cash would be flooding out of stocks and bonds and into PMs as we speak and that this flow of cash would push prices up, not down. I know that markets are complex beasts and that they are often pushed and pulled in multiple directions at the same time but the recent PM price drop seems to defy common sense BIG-TIME.