GOLD 00.00 1.20 0.00%
SILVER 00.00 1.20 0.00%

December 2020 - Week 4 Edition

December 2020 - Week 4 Edition

The New Morgan & Peace Dollar Bill Passed Congress – Spurring Coin Interest in 2021

HR6192 passed the Senate last week, meaning that it will become law once the President signs the bill, marking the 100th anniversary of the Morgan dollar/Peace dollar transition year of 1921 with newly-minted editions of both series, sparking widespread new interest in both the new and old series of Morgan and Peace dollars in all their mintage years and Mint marks.  Here is their basic history:

In 1921, the new Peace silver dollar was approved by U.S. Treasury Secretary Andrew Mellon to commemorate the peace treaty between the United States and Germany in World War I. It replaced the Morgan silver dollar, which was minted from 1878 to 1904 and in one final year of 1921.

The Peace dollar was minted in Philadelphia, Denver and San Francisco, while the Morgan silver dollar was minted in the same three cities plus New Orleans and Carson City, Nevada. The Morgan silver dollar was designed by George T. Morgan, and the Peace dollar was designed by Anthony de Francisci. Morgan dollars feature Lady Liberty on the obverse and an eagle on the reverse. The Peace Dollar features the Goddess of Liberty and a bald eagle clutching an olive branch, a symbol of peace.

Peace dollars were minted between 1921 and 1935. In essence, the Morgan dollars symbolized America’s westward expansion and rapid growth during the Industrial revolution while the Peace dollar symbolized America’s coming of age and dominance as a global power after World War I.

These new 2021 coins will replicate the original designs of the Morgan and Peace dollars, with a face value of $1, containing not less than 90% silver with the same reeded edge, a diameter of 1.5 inches and a weight of 26.73 grams. They will be considered legal tender as “numismatic items” under law. 

The passage of this bill is great news for the numismatic market.

Gold and Silver are About to Score Their Best Year Since 2010 – What About 2021?

Gold rose $55 last week in its third consecutive weekly gain, due in part to the passage of yet another economic stimulus package by the U.S. Congress over last weekend. Gold closed last week at nearly $1,900, its highest level since November 6. This latest $900+ billion stimulus package is bound to spur inflation in 2021 and record-setting budget deficits this year and in 2021, as well as in future years.

With only a few days left in 2020, gold and silver now seem guaranteed to mark their best performance year since at least 2010, when gold gained 29% and silver gained 81%. Furthermore, if gold keeps gaining ground in the next 10 days, it might even surpass its previous record 32% surge, set in 2007.

Just as a reminder, our 2021 predictions are for $2,350 Gold and $32 Silver. We were too conservative in our predictions for 2020, with forecasts of $20 silver and $1,800 to $2,000 gold. Could we be too conservative again? That is possible. There is no way Congress and the new Biden administration will lower deficit spending in 2021, nor will COVID totally disappear with new vaccines. Nor will the many geopolitical threats totally disappear.

Now is not the time to sell any of your precious metals or rare coins you have stockpiled over the years. We need to hold all of our hard assets and buy more for times just like these, when metals will become more valuable as most major currencies “race to the bottom” in value. All major global central banks are offering zero or sub-1% returns on cash and are massively infusing their balance sheets with new paper money. This is not the time to sell. It is for times like these that we accumulated “real” monetary assets.

Morgan Freeman’s Christmas Music Lesson from his Mother

As we break for Christmas, let me leave you with a special two-minute video Christmas story as told by actor Morgan Freeman. It’s all about a lesson taught by his late mother, years ago. She taught him to play the eight piano scale notes from top to bottom with pauses. Click here to play the video, and you’ll see what I mean.


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