2019 precious metals outlook: The return of the bull?

Statues of the two symbolic beasts of finance, the bear and the bull, in front of the Frankfurt Stock Exchange. Photo by Eva K.

By Louis Golino

After peaking at about $1,900 and $50 per ounce respectively in 2011, gold and silver spot prices have been in a mostly bearish market since then apart from a couple of temporary bright spots. For example, in April 2018 gold got back to $1,385 before beginning another decline that took it down to $1,174 in August. But in the past few months, especially since early December 2018, gold prices have begun to rebound and are trying to break back through the psychological barrier of $1,300 and move higher from there.

Bullish Sentiment Returns

Sentiment towards gold has become markedly more positive recently, as reflected in surveys of Main Street (i.e., the investing public) and other measures such as continued central bank gold reserve acquisition and a tight physical market because of low mine production and rising physical demand. On Wall Street sentiment has improved too, but views there are more divided about the metal’s prospects than average investors are.

Many times when market sentiment turns strongly bullish, it is often the case that prices will soon correct downward, but for many analysts gold is currently “pushing into a bull market” because of “concerns about the economy and the hard asset of gold is becoming very attractive to investors,” as Todd “Bubba” Horwitz, Bubba Trading’s chief market strategist told Kitco recently.

Units of the National Park System closed during the 2013 federal government shutdown. Shown here is the National Mall. Photo by Emw. Hover to zoom.

RJO Futures market strategist Phillip Streible (unlike in many past instances when the buying public got bullish too late) thinks they are on the right track because of factors ranging from heightened stock market volatility (likely to continue in the coming year — LG) to the partial federal government shutdown (also expected to continue with negative consequences for the economy — LG), in addition to a good chart pattern and strong momentum for gold (which is above its 200-day moving average — LG) and the U.S. dollar finally showing weakness after years of pronounced strength.

Another analyst, Alasdair Macleod, sees 2019 as a perfect storm that will push gold prices higher. The key factors that support his bullish view are: The U.S. dollar may decline very substantially once investors realize the world is awash in dollars (and especially if, as he speculates, China decides that rather than get into a “tit for tat” tariff war with the U.S., it is better off disposing of some of its dollar reserves);

shifts away from the dollar and toward gold in Asia, including Russia which has replaced the dollar with gold as its primary reserve currency, and China, which established oil-yuan futures contracts that would enable oil producers like Iran to be paid in gold rather than dollars;

a shift in the credit cycle and a risk of markets facing a crash like that in 1929-32, which he suggested would result in a new round of government liquidity similar to the quantitative easing we saw after the 2008 crisis;

demand for physical gold that continues to exceed the supply from gold mines and changes in banking regulations that allow commercial banks to increase their liquidity with gold, which is especially attractive to banks in countries that use the euro and yen.

Bullish sentiment is reflected in an increase of 18.6 tons of gold into gold ETFs (exchange-traded funds) just since the start of 2019, according to a recent Bloomberg report.

Barry Stuppler

Longtime coin dealer and gold bull Barry Stuppler regularly advises his clients on where he sees the various metal markets going. In his latest pronouncement (“Weekly Precious Metal and Rare Coin Report,” January 7), he noted that while gold was down 2% for 2018, it was the best-performing asset for the year since all equity markets and Bitcoin were down much more (and other precious metals too). He predicts a gold price of $1,480 by the end of 2019 and silver at $17.

His gold price prediction is higher than the price predictions of nine of the largest investment banks from a month ago, in which all but one came in between $1,300-$1,400, the exception being Commerzbank at $1,500.

Economic Analysis

The New York Stock Exchange trading floor in 2009

Increased volatility and some of the sharpest one-day declines ever in equity markets in the past two months have undoubtedly sent investors flocking to gold as a hedge and portfolio diversifier, but other economic factors are at play too.

In particular, the overall economic outlook began to shift towards the end of last year, and analysts and investors are still working out the various implications of these changes and adapting to a different interest rate environment following the end of quantitative easing and reduction of the Fed’s balance sheet. The problem for them, as well as for the Federal Reserve, is that it is too soon to know the extent to which economic growth is slowing.

Outside the U.S. it has already slowed down a great deal, especially in China, and that, combined with a potentially unresolved trade war with China over the course of the year, has the potential to result in a considerable economic slowdown in the U.S. too and potentially an increase in inflation if the trade war worsens. There was already evidence of a slowdown in recent data on manufacturing.

The Federal Reserve Bank of New York.

In 2018 the Fed raised interest rates four times because it saw a very strong U.S. economy and remained concerned that such growth might push inflation above its 2% target. When it raised rates a fourth time in December, many observers were surprised since there was already evidence of an economic slowdown. Since then the Fed has taken a more dovish line, suggesting that for the moment it will pause and not raise rates again until it has a better sense of where the economy is headed. There are even suggestions it could lower rates this year, but that remains to be seen..

Overall, compared to the interest rate outlook just a month ago, it does now appear that rates will at least hold steady for several months. Combined with growing uncertainty for growth and the potential for more equity market volatility, as well as supply and demand fundaments that also look good, it is hard not to find the bullish consensus on gold persuasive.

But, of course, the situation could soon change, especially if those who are bullish about stocks are correct. Stocks often do well in the aftermath of a correction as long as most company earnings are strong, which would reduce the safe haven demand for gold.

The other key factor is the U.S. dollar. It is notable that gold has been up in recent weeks in all major global currencies, not just in dollars. The dollar has softened recently, and, as suggested above, many analysts expect that to continue, especially if interest rates remain stable or even decline since investors flock to the currencies whose interest rates are increasing (and thus one reason gold did not have a good year as rates were rising in the U.S. in 2018).

Other Metals: Silver, Platinum, and Palladium

1,000-ounce silver bullion bar. Photo by Unit 5.

As far as other metals, many analysts are also bullish about silver for 2019. Many see silver in the $17 range in 2019, or even reaching $18, as physical demand from investors picks up again after hitting a nine-year low in 2018. This was reflected in sales of U.S. Mint American Silver Eagles, which were only 15.4 million in 2018, slightly lower than 2017’s 18 million, and a whopping 67% lower than the record in 2016 of 47 million coins.

It is often noted that silver looks very favorable at current levels (just under $16) when one considers the historic silver-gold ratio, which has averaged about 50 to 1, compared to a current ratio of 82 to 1 that makes silver look very undervalued. Those who are bullish on gold are in many cases also bullish on silver and for many of the same reasons (interest rate normalization, equity turbulence).

However, not all analysts are bullish on silver, and some point to oversupply of the metal as a reason why it will not do much this year or could even go lower to $14, according to BNP Paribas in France (cited in same article on silver from Kitco).

Crystals of pure platinum grown by gas phase transport. Image by
Periodictableru.

Finally, there are the other two white metals: Platinum and palladium, which have diverged strongly in the recent past with platinum priced well below gold in the low $800’s, while palladium continues to set new heights and even surpassed gold recently.

Platinum is widely viewed as currently undervalued, especially compared to gold. For example, the platinum-gold ratio is at a 40-year low.  In addition, the World Platinum Investment Council recently noted that demand for platinum is expected to increase by 2.4% in 2019 due to “chemical and petroleum demand reflecting economic growth, and a doubling in investment demand as a rebound in exchange traded-funds adds to robust bar and coin demand.”

Palladium is very similar to platinum and is often used for catalysts and jewelry. It is more reactive than platinum and cheaper as well. Image by
Hi-Res Images of Chemical Elements.

Palladium, the least used metal in coins, was the best-performing precious metal of 2018, ending the year at $1,234 per ounce, and going even higher this January. There is a shortage of available palladium that is expected to continue supporting high spot values in 2019. Its main uses are in the auto and truck industry, where it serves as a catalyst for controlling emissions.  As electric cars continue to become more prevalent, especially in Europe and China, demand should remain high for the metal.

Many analysts believe that shortages of the metal due to reduced mining in Russia and South Africa, the largest palladium producers in the world which account for about 80% of production, will support continue high prices at least in the first quarter of 2019. However, others point out that speculative buying played an important role in pushing palladium prices in 2018, which they believe makes the metal vulnerable to price reductions in the coming year.


Louis Golino is an award-winning numismatic journalist and writer specializing primarily in modern U.S. and world coins. His work has appeared in Coin World, CoinWeek, The Greysheet and CPG Market Review, The Numismatist, Numismatic News, FUN Topics, The Clarion and COINage, among other publications. His first coin-writing position was with Coin Update.

In 2015, his CoinWeek.com column, “The Coin Analyst,” received an award from the Numismatic Literary Guild for best website column. By 2017, he received an NLG award for best article in a non-numismatic publication with his “Liberty Centennial Designs,” which was published in Elemetal Direct.

In October 2018 he received a literary award from the Pennsylvania Association of Numismatists (PAN) for his article, “Lady Liberty: America’s Enduring Numismatic Motif,” that appeared in The Clarion in 2017.

Follow us on Facebook and Twitter!

Facebook Twitter Email

BEFORE YOU COMMENT:

  1. Mint News Blog is not a retail website. If you wish to buy a coin or banknote, you should contact a reputable dealer. One of our sponsors (see ads at left and top of page) may also have what you’re looking for, so be sure to check out their websites.
  2. Per policy, we do not advise on the value, authenticity, or rarity of readers’ coins and banknotes. For this kind of assistance, you should contact a reputable dealer, preferably one who’s certified by the American Numismatic Association and/or the Professional Numismatists Guild.
  3. Vulgar and/or abusive comments will not be tolerated. Nor will trolls.
  4. Allegations of fraudulent or criminal activity against a named party, when said activity has not been proven in a court of law, will be removed.

Comments

  1. Buzz Killington says

    I like Louis’s journalism articles, but I don’t like articles like this. It is similar to what cable news consists of all the time — predictions of things that can’t be known.

    It is okay for someone to have his own theories, but I don’t appreciate quoting so-called experts in metal prices. Simply put, markets can’t be predicted, and if someone COULD predict the future of markets, she could be wealthy beyond measure.

    The phrase “many analysts” is used four times in the article, passing off for news, but that is four times too many, in my opinion. Did these analysts tell us that Pd would be more valuable than gold in the beginning of 2019? Or is someone telling us that Pt is “under-valued” because they are looking to dump it?

    I am not trying to pick on Louis specifically, but I think it is important to call out items like this, that don’t provide any news at all, but tend to give the impression that “experts” or “analysts” can predict the future, when in fact, they can’t — AND if they could, they would keep their mouths shut about it.

    When Billy Ray Valentine had inside knowledge about the orange crop, did he share that information, or exploit an information asymmetry to make money from others? Isn’t that, in fact, the point on an information asymmetry?

    There were people on this blog in 2011 who believed the experts who said that silver had nowhere to go but up. Other “analysts” with tell you that BitCoin prices will be in six figures before you know it. It is fine to say this tripe, but please don’t pass it off as news.

  2. just another dave in pa says

    Thank you, Buzz.

    This article is telling me that prices may go up or they may go down depending on the way the winds blow.

    Very insightful.

  3. Erik H says

    Pd…. “Its main uses are in the auto and truck industry, where it serves as a catalyst for controlling emissions.  As electric cars continue to become more prevalent, especially in Europe and China, demand should remain high for the metal.”

    What do electric cars have to do with cars using a combustion engine? I would think more electric cars would cause more head winds for the Pd price. Is Pd used in EV’s?

  4. Buzz Killington says

    @Eric H — Googling that question leads to the apparent answer “No, Pd is NOT used in electric vehicles.”

  5. James Smith says

    So Palladium is cheaper than Platinum? Really , on which markets? This does sound like the Mint is ready to jump the price of gold coins again.

  6. cagcrisp says

    Barrick Gold released Preliminary results for full year Gold production.

    It was In Line…Barely…

    Preliminary number was 4.53 million oz. and Guidance was between 4.5 and 5.0 million oz…

  7. Barry says

    It was discussed a long time ago on this blog that Pd prices could increase as Europeans switch from diesel fueled cars to gasoline. Of course the extent of any price increase was any ones guess. Platinum has fallen no doubt due to the same situation as it is used in diesel cars. On the horizon for next year is for ships / boats that use diesel must install scrubbers ( using platinum ? ) to comply with new govt. regulations. We’ll see how things turn out on this one.
    https://www.reuters.com/article/us-shipping-fuel-sulphur-idUSKCN1II0PP

  8. just another dave in pa says

    They believe that hybrid (gas/electric) cars will maintain or increase the use of palladium or platinum but that’s what salespeople do.

    I also have not seen anything about Russia “has replaced the dollar with gold as its primary reserve currency” but a lot of the article seems to be copied and pasted .

    Long on opinion and short on facts…. a press release with grammar and capitalization errors.

    The state of journalism today is DISMAL.

    That girl ( I forget her name) could write well but probably didn’t want to put her name on many of these pieces.

  9. Larry says

    My understanding of why palladium is used in catalytic converters for cars is all based on the fact palladium was cheaper than platinum. I read that platinum is actually better than palladium for this use, don’t ask me why. So it seems if palladium keeps going up, folks that make catalytic converters will switch back to platinum. Plus if electric cars really take off the use of both metals should go down and with it the price.

  10. Jerry Diekmann says

    Larry – That is what I thought the Pt-Pd situation was years ago and I agree with your thoughts – if EVs start relacing polluting internal combustion engines, then the need for Pt or Pd should go down. Pt is a better catalyst for catalytic converters than Pd. Historically Pt was often at least twice as expensive as Pd, which is a more common and reactive metal, so when catalytic converters were invented the engineers and scientists used Pt because it was much better than Pd as a catalyst for removing noxious gases and pollutants, even though Pd was a lot cheaper. The current prices of Pt vs. Pd is an anomaly. Someone or some country is controlling the supply and keeping it off the market.

  11. cagcrisp says

    Palladium has been in Deficit for Years

    Platinum has been in Surplus for Years

    Palladium in 2019 is Forecast to Again be in Deficit

    Platinum in 2019 is Forecast to Again be in Surplus…

  12. Buzz Killington says

    The question to me about Pt is how far it would have to go down before the few remaining “coin collectors” think about putting together a complete set of U.S. Pt coinage. Like collecting a full set of First Spouse coins, it is a doable but impressive collecting accomplishment (NOT AN INVESTMENT!).

  13. cagcrisp says

    18AJ 2018 ATB SILVER UNC 5 OZ – PIC ROCKS 17,770 –
    18AK 2018 ATB SILVER UNC 5 OZ – APOSTLE ISL 16,530 +80
    18AL 2018 ATB SILVER UNC 5 OZ – VOYAGEURS 16,320 +95
    18AM 2018 ATB SILVER UNC 5 OZ – CMBRLND ISL 15,063 +76
    18AN 2018 ATB SILVER UNC 5 OZ – BLOCK ISL 14,831 +71

  14. cagcrisp says

    16EA 2016 AM EAGLE SILVER PROOF 1 OZ 595,841 (2)
    16EB 2016 AM EAGLE GOLD PROOF 1 OZ 24,352 –
    16EC 2016 AM EAGLE GOLD PROOF 1/2 OZ 6,311 (4)

  15. cagcrisp says

    17EA 2017 AM EAGLE SILVER PROOF 1 OZ 390,194 (2)
    17EA042 2017 AM EAGLE SILVER PROOF 1 OZ (BULK) 240 –
    17EB 2017 AM EAGLE GOLD PROOF 1 OZ 9,245 –
    17EC 2017 AM EAGLE GOLD PROOF 1/2 OZ 2,904 (2)
    17ED 2017 AM EAGLE GOLD PROOF 1/4 OZ 4,703 (2)
    17EG 2017 AM EAGLE SILVER UNC 1 OZ 176,739 –

  16. cagcrisp says

    18EA 2018 AM EAGLE SILVER PROOF 1 OZ (W) 342,434 +691

    18EB 2018 AM EAGLE GOLD PROOF 1 OZ 6,480 + 63
    18EC 2018 AM EAGLE GOLD PROOF 1/2 OZ 1,815 –
    18ED 2018 AM EAGLE GOLD PROOF 1/4 OZ 4,658 +86
    18EE 2018 AM EAGLE GOLD PROOF 1/10 OZ 13,986 +32
    18EF 2018 AM EAGLE GOLD PROOF 4-COIN SET 7,411 +22

    18EG 2018 AM EAGLE SILVER UNC 1 OZ 132,186 +251

    18EH 2018 AM EAGLE GOLD UNC 1 OZ 7,936 +23

    18EJ 2018 AM EAGLE PLATINUM PROOF 1 OZ 12,255 + 26

    18EK 2018 AM EAGLE PALLADIUM PROOF 1 OZ 14,986 –

    18EL 2018 AM BUFFALO GOLD PROOF 1 OZ 15,353 +70

    18EM 2018 AM EAGLE SILVER PROOF 1 OZ (S) 158,787 (4)

  17. cagcrisp says

    18CA 2018 WWI CENTENNIAL SILVER PROOF 64,986 (7)
    18CB 2018 WWI CENTENNIAL SILVER UNC 22,339 (1)

    18CC 2018 WWI CENTENNIAL COIN & MEDAL – ARMY 15,621 –
    18CD 2018 WWI CENTENNIAL COIN & MEDAL – AIR SERV 12,520 –
    18CM 2018 WWI CENTENNIAL COIN & MEDAL – NAVY 12,253 –
    18CN 2018 WWI CENTENNIAL COIN & MEDAL – MARINES 12,648 –
    18CP 2018 WWI CENTENNIAL COIN & MEDAL – COAST GRD 9,813 –

  18. cagcrisp says

    18CE 2018 BREAST CANCER GOLD PROOF 10,386 (1)
    18CF 2018 BREAST CANCER GOLD UNC 4,477 –
    18CG 2018 BREAST CANCER SILVER PROOF 34,542 (1)
    18CH 2018 BREAST CANCER SILVER UNC 12,526 –
    18CJ 2018 BREAST CANCER CLAD PROOF 17,938 –
    18CK 2018 BREAST CANCER CLAD UNC 11,301 –
    18CL 2018 BREAST CANCER COIN & STAMP SET 4,455 –

  19. cagcrisp says

    17XA 2017 AM LIBERTY 24K GOLD 1 OZ 29,890 +18
    17XD 2017 AM LIBERTY SILVER 4-MEDAL SET 32,649 (3)

  20. cagcrisp says

    19EA 2019 AM EAGLE SILVER PROOF 1 OZ (W) 227,270 +18,600
    19EA040 2019 AM EAGLE SILVER PROOF 1 OZ (W) – 40 COIN 512 + 254

  21. cagcrisp says

    The 2019 $5 Proof Gold Apollo 11 Will be priced @ $418.75
    The 2019 $5 Uncirculated Apollo 11 Will be priced @ $408.75

  22. cagcrisp says

    We are Tracking a price Decrease for Proof Platinum.

    Significant because we do have a 2019 Proof Platinum coming out in 9 days…

  23. cagcrisp says

    Finally William T Gibbs and I agree on Something.

    Really some Slam Dunk predictions.

    Prediction #1: The Proof 2019-P Apollo 11 5-ounce commemorative silver dollar will sell out in less than 24 hours. Slam Dunk. A LOT less than 24 hours.

    Prediction #2: In the precious metals field, palladium will shine the brightest. Slam Dunk.

    “Expect market interest in the metal to extend to any American Eagle palladium coins the United States Mint might issue this year; if offered, the palladium coins will sell out quickly.” Duh…

    Prediction #3: The U.S. Mint will announce some sort of “innovation” for a coin or packaging that has not been used previously for a Mint product. Slam Dunk.

    Prediction #4: There will be no improvement in the overall health of the hobby. Slam Dunk.

    “The aging demographics of coin collectors and changes in the marketplace will continue to plague the hobby. ”

    I’ve been saying the Same thing for as Long as I’ve been posting here…

    https://www.coinworld.com/news/us-coins/2019/01/monday-morning-brief-for-jan-21-2019.html

  24. cagcrisp says

    These are the Predictions made 1 Year Ago on Mint News Blog…

    ““A majority of the respondents, who are on the front lines of buying and selling physical precious metals coins and ingots with the public, have slightly revised their estimates upward. Of course, prices fluctuate during the year, but the average of their estimates now is for gold to be $1,461.33 an ounce at the end of 2018. Gold ended 2017 at $1,306.30, so a predicted close at $1,461.33 would be a $155.03 increase; 11.8 percent,” said PNG President Barry Stuppler.

    Two of the 25 respondents thought gold would be a little lower than $1,400 by year’s end, and three thought it could be $1,500 or more.

    Estimates on silver by the end of the year varied quite a bit, from a low of $16.25 to a predicted high of $30.70. The combined average estimate for the end of 2018 was $20.00. Silver closed in New York at $17.06 at the end of 2017.

    Estimates for platinum by the end of 2018 ranged from a low of $1,000 to a high of $1,400, with the combined average estimate at $1,150.23. Platinum closed at $935 at the end of New York spot trading in 2017.”

  25. cagcrisp says

    Let’s See…

    …SO…How were the Consensus Predictions for 2018 vs. Actual Numbers for End of 2018?

    Gold Prediction for End of 2018 was $1,461.33
    Gold Closed 2018 at $1,282.10
    A Downward Miss of 12%

    Silver Predictions for End of 2018 was $20.00
    Silver Closed 2018 at $15.47
    A Downward Miss of 23%

    Platinum Predictions for End of 2018 was $1,150.23
    Platinum Closed 2018 at $794.00
    A Downward Miss of 31%

    Good News is they didn’t Predict 2018 Palladium.

    Here is a quote from Last Year MNB article “You absolutely need to know your precious metals dealer,” advised Stuppler.

    I would have to Agree 100% with that statement…

    https://mintnewsblog.com/png-dealers-see-1460-gold-at-years-end/

  26. CaliSkier says

    Has anyone else noticed that the capital L used for Liberty in cursive looks a bit more like a capital S, in regards to the soon to be released “Preamble to the Declaration of Independence 2019 Platinum Proof Coin.

    The letter is poorly executed whether it’s an L or an S! IMO, it looks more like “Siberty” than Liberty. Maybe this will be an error coin? Ponder….

  27. CaliSkier says

    For that Matter the L in Life on the “Preamble to the Declaration of Independence 2018 Platinum Proof Coin – Life” also looks a bit s’ish?

    After really looking at the 2019, the 2018 starts looking like it reads “Sife” vs “Life”? Check for likeness or lack there of by using your favorite search engine and look up images of cursive examples. I know they are trying to be stylistic, however???

  28. Zephin says

    Haha…yeah but the one on the 2018 Platinum looks more like an S than the 2019 Platinum S.( I’m laughing because my kids 18 and 19 freak out when I write in cursive…lol )

  29. Einbahnstrasse says

    I think the handwritten script “Life” and “Liberty” are copied directly from the Declaration of Independence, aren’t they?

  30. Buzz Killington says

    @cag —

    Re: the aging demographics of coin collectors & the deteriorating state of the hobby

    There is no doubt about this, so I wouldn’t call it a “prediction”.

    One side-effect from the shrinking of the middle class is the rise of the “high end” is any collecting category you can think of. This, also, will not last forever. As things like clean water, clean air and trees, disappear, even the richest of the rich people might start to wake up and think about what is really important.

  31. John Q. Coinage says

    Buzz, the high end will live forever, as will sale of coins 99c & less, the high end, $100k & more will always sell, it’s everything in between that will get slammed….like the middle class – whatever that is nowaday$

  32. Anthony says

    Until and unless the United States begins to issue coins in denominations which have a real purchasing power, the hobby of coin collecting will spiral out of existence. Issuing American Innovation dollars to a general public who hardly knows of or uses dollar coins ain’t gonna move the needle any. Many Americans are as familiar with their coins and with their postage stamps… they never use them on a regular basis to have any affinity for them.

  33. So Krates says

    Prediction #3: The U.S. Mint will announce some sort of “innovation” for a coin or packaging that has not been used previously for a Mint product. Slam Dunk.

    I believe this will come in the form of an Augmented Reality feature – a futile attempt at bucking the demographic trend

  34. CaliSkier says

    Einbahnstrasse says: “I think the handwritten script “Life” and “Liberty” are copied directly from the Declaration of Independence, aren’t they?

    After looking for images, then going to mint press release, you’re correct! “The inscriptions “Life” in 2018, “Liberty” in 2019, and “Happiness” in 2020 are likenesses of the handwritten words from the Declaration of Independence.”

    “L”iberty it is! Thanks for clueing me in!

  35. Barry says

    I’ve read some articles that Pt can’t be used in catalytic converters for gas engines and others that said it can with retooling. I don’t know which is the truth.

  36. cagcrisp says

    Platinum is used mostly in catalytic converters for diesel and Palladium is used primarily in catalytic converters for gasoline engines.

    Platinum was used more in Europe because for years ,diesel cars were major sellers.

    Diesel cars have never caught on in the United States…

  37. datadave says

    So I just received my Apollo 11 “booklet” in the mail. Do people seriously want this thing?

  38. Dustyroads says

    datadave, I received mine and tossed it in the trash. If I had known it was going to be sought after I would have kept it. I can’t imagine why anyone would want these publications. Someone said earlier here that they were going to keep theirs along with the coins, I guess emotions are running a little high.

  39. Dustyroads says

    I believe it’s almost time for Pd to begin bidding up again. I think between now and another $20.00 drop.

  40. Brad says

    So who’s going to buy the clad half dollar set? I’d like to have that unique Kennedy coin, but hate getting ripped off by the Mint. $53.95 for two clad half dollars seems pretty outrageous.

    Maybe the Mint will make an “error” and strike some of the Kennedy coins on silver blanks. If I do buy it, I’ll be examining and weighing the Kennedy just in case!

  41. johnaz says

    datadave@ I will give you 5.00 for the booklet ,Apollo 11.Out in phoenix,az anything space is big deal.fire in the sky,light over phoenix.on the booklet it must be in very good shape,no fold or marks.

  42. John Q. Coinage says

    The innovations dollar are a collector only item, they do NOT get placed into circulation, so another collector boondoggle…… I agree 100% with you, we need a $5 & a $10 coin, wth maybe a silver (25%) center to attract the regular Joe……..nahh lets issue a ‘special’ Jefferson 5c (on;ly been around like 80 years…) or something LIncoln’ishh…….

  43. gatortreke says

    @datadave: the first ‘s’ in Happiness is the style of that period. When a word had a double s, the first ‘s’ was written in that very flowery style, almost like a small cursive ‘f’. In fact, a printed version of it did look like a typed small ‘f’.

Leave a Reply

Your email address will not be published. Required fields are marked *