Last week’s New Orleans Investment Conference featured several speakers who predicted $3,000 to $5,000 gold prices within the next few years, but that would normally be expected in a gold-oriented conference. We’re more impressed when mainstream banks and investment advisors predict much higher gold prices. We’ve mentioned Bank of America and Goldman Sachs in recent months, but Germany’s Commerzbank was one of the first major banks to predict higher gold prices – several years ago.
1st American Reserve says without a doubt, that "What's it worth?" is the question most frequently asked about any coin with premium value as either a collectible or an investment.
After enduring the first two debates with challenged moderators, I’m tempted to say “we don’t need no stinking moderators” at these election-year debates. After all, Abraham Lincoln and Stephen Douglas simply got up and talked for a couple of hours and found a way to get to the core of the issues their audiences cared about. What’s wrong with the candidates just asking each other a series of questions?
Do you remember the Bicentennial of 1976 and all the tall ships in New York harbor and the welcome celebration of America’s 200th birthday? It came after Watergate, Vietnam, and a very dark time in U.S. history, something like the Covid-19 pandemic, urban riots, racial tension, political divisions, and recession we’ve suffered in 2020 and may see continuing next year, depending on the election outcome.
One looming light at the end of the tunnel is America’s 250th birthday on July 4, 2026. One encouraging note is that on this Columbus Day weekend, The New York Times has begun to back away from its destructive “1619 Project,” which purported to change America’s birth date to the arrival of the first slave and thereby cast the entire national history as a slave-centered story. This helped lead to a summer of destroyed statues of George Washington and other Founding Fathers with “1619” painted on them in great disrespect.
1st American Reserve's Mike Fuljenz contributed this piece of news of what we can look forward to in 2021. Last Thursday, the U.S. Mint unveiled the new reverse design for the American Eagle Gold and Silver bullion and collectible coins for 2021, a year which marks the centennial of the first Peace Dollar and the final Morgan Dollar year as well as the 35th anniversary of the American Eagle Coin, which debuted in 1986.
1st American Reserve thinks this is a great post taken from the THE MIKE FULJENZ METALS MARKET REPORT of 9/30/2020.
History has made General George Washington’s winter in Valley Forge, PA (1777-78) a story of great courage, and indeed it was, but the next three winters with his dwindling army in northern winter camps were much more trying. Washington’s last major battle was at Monmouth, New Jersey, June 28, 1778. It was a draw after Washington rallied his retreating troops. The following three years and four months were a tale of strategic retreats with a dwindling army and few supplies from a bankrupt nation and Congress, using a worthless currency called “The Continental.” Many farmers preferred selling their produce to the British Army with their “hard” currency, the British pound, thereby impoverishing the Patriot army.
Here are two portraits of the U.S. Army entering their winter quarters in 1779 and 1780, taken from Ron Chernow’s “Washington: A Life.” He is the author who wrote the biography of Alexander Hamilton, which became the basis for the Broadway musical, “Hamilton,” and his most recent biography is “Grant.”
1st America Reserve's hometown, Beaumont, Texas survives Hurricane Laura – But Lake Charles Was Hit Hard. As indicated in the previous week’s Metals Report, 1st American Reserve came through Hurricane Laura reasonably unscathed. We endured one day of rolling electrical backouts but most of us were either at work or were helping others in need, and we were all back at work in full force the next Monday. That wasn’t the case for our friends and family in Lake Charles, Louisiana, Mike Fuljenz original hometown. Hurricane Laura, the strongest hurricane ever to hit Louisiana, went right over Lake Charles with the highest winds on the eastern wall of Laura’s eye hitting the city directly. The peaceful eye never even gave them a moment of relief.
During the first eight months of 2020, 589,500 Troy ounces of Gold American Eagles were sold by the U.S. Mint vs. only 122,000 ounces for the same eight months in 2019, a 383% increase. This was despite periodic work shutdowns this year due to coronavirus, and a complete cessation of production of the popular $5 tenth-ounce gold Eagles for a three-month period. Production of the $5 gold Eagles finally resumed in July, with 35,000 of the smaller coins sold in July and another 30,000 sold in August.
In the last week of August every year, the Federal Reserve Bank of Kansas City hosts a central bankers’ convention in Jackson Hole, Wyoming, near the Grand Teton mountain range. This year, due to the coronavirus pandemic, the meeting was held “virtually” via Zoom. In his keynote address last Thursday, Fed Chairman Jerome Powell clearly stated that the Fed’s primary goal for the foreseeable future will be to fight unemployment and let inflation run however high it will run. He even said the Fed will now allow inflation to overshoot their previous 2% target. This is in directly opposite of what the Fed faced 40 years ago, in 1980, when inflation was enemy #1. Fed chair Paul Volcker faced inflation, unemployment and interest rates ALL in the double-digits, providing the basis for gold’s initial run up to $850 in early 1980.
As I indicated in last week’s Metals Report, our company came through last week’s hurricane reasonably unscathed. We endured one day of rolling electrical backouts but most of us were either at work or were helping others in need, and we were all back at work in full force on Monday. That wasn’t the case for my friends and family in Lake Charles, Louisiana, my original hometown. Hurricane Laura, the hardest hurricane ever to hit Louisiana, went right over Lake Charles, La. and Orange, Tx. with the highest winds on the eastern wall of Laura’s eye hitting Lake Charles directly. The peaceful eye never even gave them a moment of relief.
During the first eight months of 2020, 589,500 Troy ounces of Gold American Eagles were sold by the U.S. Mint vs. only 122,000 ounces for the same eight months in 2019, a 383% increase. This was despite periodic work shutdowns this year due to coronavirus, and a complete cessation of production of the popular $5 tenth-ounce gold Eagles for a three-month period. Production of the $5 gold Eagles finally resumed in July, with 35,000 of the smaller coins sold in July and another 30,000 sold in August.
As of Monday Morning, when we planned to send out this Metals Report, two hurricanes were headed for the Texas Gulf Coast near our border with Louisiana. First, Hurricane Marco has been downgraded to a tropical storm for the time being, but it may hit our coast Tuesday night. Hurricane Laura is predicted to be a Category 2 hurricane at present and it is likely to hit near Beaumont on Wednesday night. Although there may be some difficulty reaching us by phone for a while, if the past is any guide, we will relatively soon after the storm passes be able to take your orders and ship products again in a timely manner.
Our 2019 predictions were “right on” for $1500 gold, but our 2020 predictions were too conservative. Back in July 2019, we “boldly” predicted $18 silver by year’s end and $20 silver in 2020. We got the $18 silver within three months and then we got $20 silver by July 21 – then silver kept on rising to nearly $30!
The U.S. Dollar Index is down nearly 10% (-9.7%) in the last five months, due largely to the massive creation of trillions of new dollars in stimulus money and deficit spending by Congress, plus Federal Reserve liquidity for bank lending in the wake of the COVID-19 pandemic. In time, this is almost certain to fuel a new round of higher inflation and higher gold prices. The gold price rise has begun, and now the inflation rates have started to rise, despite the 2020 recession temporarily dampening consumer demand.
years, but that would normally be expected in a gold-oriented conference. We’re more impressed when mainstream banks and investment advisors predict much higher gold prices. We’ve mentioned Bank of America and Goldman Sachs in recent months, but Germany’s Commerzbank was one of the first major banks to predict higher gold prices – several years ago.
nd of the tunnel is America’s 250
Monmouth, New Jersey, June 28, 1778. It was a draw after Washington rallied his retreating troops. The following three years and four months were a tale of strategic retreats with a dwindling army and few supplies from a bankrupt nation and Congress, using a worthless currency called “The Continental.” Many farmers preferred selling their produce to the British Army with their “hard” currency, the British pound, thereby impoverishing the Patriot army.
Metals Report, 1st American Reserve came through Hurricane Laura reasonably unscathed. We endured one day of rolling electrical backouts but most of us were either at work or were helping others in need, and we were all back at work in full force the next Monday. That wasn’t the case for our friends and family in Lake Charles, Louisiana, Mike Fuljenz original hometown. Hurricane Laura, the strongest hurricane ever to hit Louisiana, went right over Lake Charles with the highest winds on the eastern wall of Laura’s eye hitting the city directly. The peaceful eye never even gave them a moment of relief.
Back in July 2019, we “boldly” predicted $18 silver by year’s end and $20 silver in 2020. We got the $18 silver within three months and then we got $20 silver by July 21 – then silver kept on rising to nearly $30!
creation of trillions of new dollars in stimulus money and deficit spending by Congress, plus Federal Reserve liquidity for bank lending in the wake of the COVID-19 pandemic. In time, this is almost certain to fuel a new round of higher inflation and higher gold prices. The gold price rise has begun, and now the inflation rates have started to rise, despite the 2020 recession temporarily dampening consumer demand.