Dear Collector:
TheThe year 2003 has been a very good year for coins. There are thousands of new collectors who began collecting coins this year. Some of these people were drawn into coins because of the new state quarter program. These people (usually ages 40-70) collected coins as kids and now that spirit has been re-awakened all these years later. Now successful, these new collectors can afford to spend many thousands of dollars for those special coins they once drooled over as eager, young collectors.
Some new people are drawn into coins because they wish to diversify into gold. And gold coins are a way to enjoy history and collecting. As many of you know, it is extremely satisfying to obtain these special pieces that you've always wanted; those special coins that make your collection more meaningful to you.
In general, many coins are up 20% since the beginning of the year. Some coins are up more than that, and premium quality pieces are getting difficult to locate. In my opinion, the competition for nice coins will get stronger in the next few years.
So, if you've been considering getting your feet wet, you should do it sooner rather than later. And of course - ALWAYS TRADE non-useful coins for better coins. Coins that will suit your purpose! So many people I speak with have all this loose coin stuff lying around. It should be traded for better coins!
The other new development in the markets is the fact that people like William Seidman, of banking fame, recently said on CNBC that inflation will come back with a vengeance in the next two to five years. When mainstream people like Mr. Seidman say this on TV, something will happen. I was extremely surprised. Mainstream establishment types don't usually voice this kind of idea because it means the purchasing power of the U.S. dollar will decline. As the dollar goes down, the standard of living goes down. They generally like to keep this information to themselves and not scare the public.
Anyway, what are you going to do about it? Call us at 1-800-331-2646 (COIN) with your questions. We will be happy to provide answers.
Early Seasons Greetings,
Bret Leifer & Staff
P.S. For those of you who read our Summer 2003 newsletter, remember what we said - that gold coins seemed undervalued to us. We still think that many selected gold coins are still undervalued.
"In the entire recorded history of man, the only commodity that has ever held onto its value as a measure of worth and buying power is gold. The price of gold has moved slowly, but it has protected its owners over the long term. It is the only real money and a great store of value. It doesn't represent any other money and it has no debt. I truly believe that we are seeing the beginning of a world-educated American buyer of gold, and not too far off in the future we will be in the midst of a rip-roaring gold bull market. If you follow the money supply numbers, and the federal debt, they are astronomical. Whether you are looking to own one important magnificent coin or whether you are building a world-class, million dollar collection (and everything in between) we can assist you in your endeavor." *
*Reprinted from our Summer 2003 newsletter