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Mike Fuljenz Weekly Report

May 2022 - Week 4 Edition

Gold and Rare Coins Should Soar During Times of “Stagflation”  Like Now!

This economic nightmare is along the lines of the 1970s “stagflation” decade, when gold rose from $35 to $200 from 1971 to 1974, then paused before rising from $103 to $850 between 1976 to 1980 and the rare coin market did even better.

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May 2022 - Week 3 Edition

The Passing of Naomi Judd Brings Back Memories of My Grandfather

Gold is Trading Up 2% for the year, which is somewhat amazing in light of the U.S. Dollar’s near 10% gain this year and its 15% gain in the last 12 months. The U.S. Dollar Index (DXY) was 90.1 on this date last year and it is 103.8 now (+15.2%), which means that if gold is slightly up in U.S. dollar terms, then it is massively up in terms of many other currencies. Indeed, gold is now trading at record highs in euros.

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May 2022 - Week 2 Edition

Gold at Record High in Euros

Gold is Trading Up 2% for the year, which is somewhat amazing in light of the U.S. Dollar’s near 10% gain this year and its 15% gain in the last 12 months. The U.S. Dollar Index (DXY) was 90.1 on this date last year and it is 103.8 now (+15.2%), which means that if gold is slightly up in U.S. dollar terms, then it is massively up in terms of many other currencies. Indeed, gold is now trading at record highs in euros.

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May 2022 - Week 1 Edition

The U.S. Mint More Than Doubled its Gold Bullion Sales in April (Over 2021)

As for physical gold, the U.S. Mint had a banner month for gold bullion sales in April, with both the American Eagle and American Buffalo gold coins doubling their sales levels over April of 2021.

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April 2022 - Week 4 Edition

Biden’s Political Mismanagement Will Likely Cost the Democrats Their Congressional Majority – and That’s Good for Gold

The current betting at FTX (where people bet real money) shows a 77% chance that Republicans will take over the Senate and an 85.8% chance the Republicans will take back the House.

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April 2022 - Week 3 Edition

Gold ETF Purchases Hit a Record High in March & Goldman Sachs Boosted its Gold Target to $2,500

In March 2022, investor purchases of gold exchange-traded funds (ETFs) and other gold-based products reached a new record high – five times the amount sold in February and eclipsing the previous record peak of $9.4 billion set nearly two years ago in July 2020.

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April 2022 - Week 2 Edition

Gold’s Rally Continues

Gold rallied from $1,950 to nearly $1,980 Tuesday morning April 12, following the release of the Consumer Price Index (CPI), which rose at the highest rate in 40 years.

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April 2022 - Week 1 Edition

U.S. Mint Gold Bullion Sales Rose Sharply in March

U.S. Mint gold bullion sales doubled in March 2022 (vs. March 2021) for the American Eagle and American Buffalo series.

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March 2022 - Week 5 Edition

Expert Guide to Buying Gold and Silver Cheaper

Current year silver and gold bullion coins are very popular when they are first released but if you want to save on your bullion purchases, you can sometimes buy prior year bullion coins for less than the current year coin. Remember, current year coins become prior year coins in less than 12 months, anyway. We highly recommend, that if you are making large bullion purchases, to always ask us if a prior year’s product would save you money on your bullion purchases. Every dealer should advise customers of this money-saving option.

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March 2022 - Week 4 Edition

Gold ETF Flows Continue Strong in February

Through February 23, 2022, – the day before Russia invaded Ukraine – data from Refinitiv Lipper showed gold and other precious metal ETFs have seen an inflow of $4.7 billion after witnessing outflows worth $7.8 billion last year. After the invasion, all indications are that gold ETF buying is accelerating in March.

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March 2022 - Week 3 Edition

Coins, Porkchops and Proposals

Last week, I was in Colorado Springs at the American Numismatic Association’s National Money Show. I was buying coins for our clients and networking with leading dealers from across the country. Most agreed with me that the coin market remains hot, overall, and many quality rare coins that we deal in and recommend are becoming harder to find and are rising in price.

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March 2022 - Week 2 Edition

America’s Gold Expert Predicted Gold’s Rise

Gold topped $2,000 per ounce on Monday, March 7, so it already fulfilled our annual minimum prediction of $2,000 per ounce in the first 10 weeks of the year.

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March 2022 - Week 1 Edition

Portfolio Planning Principles for Owning Gold and Rare Coins

If you see a rare coin for sale at a substantial discount from its normal price, do not expect a bargain. It may be a falsely graded coin, a counterfeit, or a fraud.

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February 2022 - Week 4 Edition

Gold is over $1900!

Gold is over $1,900 for the first time in eight months due the anticipated war between Russia and Ukraine. 

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February 2022 - Week 3 Edition

How to Handle the New Safety Deposit Box Dilemma

I have long recommended that clients store most of their valuable coins in a bank safety deposit box or security deposit center and I am in touch with many law-enforcement people, including retired FBI agents and police chiefs who share the belief that you are far safer storing your coins in a safe facility off-site.

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February 2022 - Week 2 Edition

Gold is Your Multi-Generational Life Insurance

Considering the dual threats of long-term deficits and inflation destroying the value of the dollar, gold and silver are certain to retain their permanent value, hard-earned over the centuries as precious metals, hard to find, mine and impossible to mass produce. Most paper currencies since the birth of the printing press over 550 years ago have eventually fallen by the wayside, inflated into worthlessness.

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February 2022 - Week 1 Edition

Gold Buyers Do Not Fear the Fed Raising Short-Term Rates Later This Year

The financial pundits constantly tell us that gold suffers when interest rates rise, but that is not the case in recent history. 

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January 2022 - Week 4 Edition

Dr. Mike Fuljenz Addresses Texas Coin Dealers

This past weekend, I was a featured speaker about gold coins at the big Money Show of the Southwest in Conroe, Texas. Convention officials were pleased with the increase in the number of dealers participating in the annual show. With gold and silver rising and more customers and dealers participating in the coin market, 2022 is looking like a very good year to buy gold and silver coins!

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January 2022 - Week 3 Edition

Gold Will Rise Again

Gold maintained its $1,820 starting position (for the year) over the long holiday weekend, buoyed by a dip in the Dollar Index and high inflation numbers. 

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January 2022 - Week 2 Edition

Gold Demand in India Set a New Record High in 2021

We haven’t talked about demand in India for a while, since it has been depressed, but India just reported spending a record $55.7 billion on gold imports in 2021, which is more than double the 2020 totals and is a record high.

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January 2022 - Week 1 Edition

U.S. Mint Gold Bullion Sales Rose 45% to 48% in 2021

On the rare coin side, many series have escalated in price as we enter the New Year.

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December 2021 - Week 3 Edition

The Christmas Scale – Playing it Backward, and with Pauses

Every Christmas season, I play Morgan Freeman’s story of “The Christmas Scale,” the way his mother taught him – backward (from the top down), and with the correct pauses between certain notes.

I invite you to listen to the story, the way he tells it, by clicking this link. Merry Christmas!

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December 2021 - Week 2 Edition

Home Storage IRAs Banned Explicitly by Tax Court - Judge Warns About ‘Questionable Internet Scheme’

We strongly advise you to contact your accountant and your attorney if you have set up a home storage precious metals IRA. Then call us for assistance in setting up an IRS-approved precious metals IRA that meets all of the requirements and guidelines set forth in the Internal Revenue Code. Failure to follow approved guidelines could result in a tax liability of up to 37 percent, not counting any penalties assessed by the IRS.

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December 2021 - Week 1 Edition

The U.S. Mint Continues to Meet Skyrocketing Gold Bullion Coin Demand

As you know, we have been tracking detailed monthly sales at the U.S. Mint for the past few years, but seldom have we covered the long-term picture. Now we learn, according to the World Gold Council (WGC), that gold bullion sales by the U.S. Mint are on track for the best year since 1999.

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November 2021 - Week 4 Edition

$20 Liberty Coin Quadrupled in Price in 7 Years

Collectors continue to look for the best available coin in a series and they are willing to pay much higher prices than previously imaginable. One recent example is the 1870 Carson City (Nevada) Mint gold double eagle that sold for $1.62 million after only fetching $411,250 in 2014.

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November 2021 - Week 3 Edition

Gold and Silver Jump on Inflation Reality

Gold reached $1,875 early Tuesday, November 16 following the dramatic new inflation figures released last Tuesday and Wednesday. Gold rose by nearly $100 per ounce in eight trading days, from the $1,763.45 London setting on November 3 to $1,863.80 on November 15 (+5.7%). Silver rose 6.9% in the same time span, from $23.58 to $25.21.

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November 2021 - Week 2 Edition

Gold Prices On The Move

Gold shot up $28 Friday from $1,790 to $1,818, then to over $1,825 Monday morning. Last week’s major statements from the European Central Bank (ECB), Bank of England and the Federal Reserve indicated that there would be no interest rate increases in the foreseeable future, gave gold a competitive advantage with zero (even below zero) interest rates in Europe and Japan. This also drove long-term U.S. interest rates lower, with the benchmark 10-year Treasury rate going below 1.5%.

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November 2021 - Week 1 Edition

U.S. Mint Continues to Meet Skyrocketing Gold & Silver Eagle Demand

Despite high premiums, occasional work stoppages and delivery delays at the U.S. Mint, the sales volume in Troy ounces for Gold and Silver American Eagle coins, once again, eclipsed last year’s totals. Despite nearly two years of COVID, October gold sales in both the American Gold Eagle series and the American Buffalo Gold Bullion Coin series are up about 1,200% over totals from 2019. Comparing October 2021 to October 2020 shows a 100% sales increase in the two-gold series from the U.S. Mint.

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October 2021 - Week 4 Edition

Gold and Silver Poised For Big Gains

Gold is still above $1,800 on Monday afternoon and held steady all day. Last Friday’s afternoon London gold price fix was $1,808.25, up 3.8% so far, in October and rising from $1,742.80 at the end of September.

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October 2021 - Week 3 Edition

New Iconic Morgan and Peace Dollars Celebrating 100th Anniversary

The 100th Anniversary of the Morgan dollar & Peace dollar transitional year of 1921 is being honored with newly minted legal tender issues of both series. These six new United States Mint 2021 coins are a beautiful rendition of the original designs using .999 fine silver, the same $1 face value and weight content, with an uncirculated finish. Graded by the Numismatic Guaranty Corporation (NGC) in perfect MS70 condition, these limited-number six-coin sets will sell out. Call now while these MS70 sets are still in stock. At our low price, they are going fast!

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October 2021 - Week 2 Edition

Gold is Making Gains

Gold has traded in a narrow range above $1,750 but this week it moved up to $1,794, despite the rising U.S. Dollar. I believe Gold is awaiting a clear resolution of several financial developments, such as the two massive spending bills in Congress and the Fed’s decision to taper their quantitative easing (QE) and perhaps raise interest rates.

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October 2021 - Week 1 Edition

Gold Trending Upward

Gold has been ratcheting its way higher over the past few days. First, last Thursday, September 30, gold shot up from $1,720 to $1,760 per ounce in four hours of morning trading before consolidating its gains over the weekend, slipping to $1,750.

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September 2021 - Week 5 Edition

Rare Gold Coins Have Risen in 2021, Despite Gold’s Lackluster Performance

Despite gold’s weak performance in 2021, a leading dealer price guide reflects rising bids for selected rare gold coins between March and September of this year. 

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September 2021 - Week 4 Edition

Bitcoin is Down $10,000 (-20%) in Two Weeks

Barron’s had an interesting cover article last weekend: “The Coming War Over Money.” The article also turned out to be prophetic. The magazine reached the news racks, mailboxes and websites Saturday morning, September 18, when Bitcoin traded for over $48,500.  Twelve days earlier, the popular crypto-currency peaked at $52,656 on Labor Day, September 6. Now, Bitcoin trades around $41,200, over 20% off in two weeks.

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September 2021 - Week 3 Edition

Inflation Continues to Soar – Gold Prices Will Follow in Time

Last Friday, the Labor Department announced that the Producer Price Index (PPI) surged another 0.7% in August, higher than the economists’ consensus estimate of a 0.6% increase. In the past 12 months, the PPI and core PPI have risen by 8.3% and 6.3%, respectively, the fastest pace in several years. The index for processed goods rose 1% in August and 23% year-over-year, the highest increase since February 1975.

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September 2021 - Week 2 Edition

Gold’s Track Record Shines

Despite the slow movement of precious metals this year, gold rose 22% last year and silver doubled that percentage with a 44% gain. Since 2000, gold is up over 500%, more than doubling the major stock market indexes. For the past 50 years – since the dollar was set free from gold’s backing in August 1971, gold has risen by an average of 10.8% per year. Gold exceeded the gains in the major stock market indexes and gaining over 50-fold to the dollar. That means the dollar has lost 98% of its purchasing power vs. gold.

Not a bad track record over two years, 20 years, 50 years, 100 years or more.

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September 2021 - Week 1 Edition

Month-End “Mint & Market Review” for August

Sales of American Silver Eagle and American Gold Eagle coins picked up in August with 3.93 million American Silver Eagles sold (vs. 3.1 million in July), and 136,000 ounces of American Gold Eagles sold in August vs. 58,500 in July.

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August 2021 - Week 4 Edition

Gold Rose Back Above $1,800

Gold rose back above $1,800 early Monday as the dollar retreated over the weekend and concerns grew that the COVID delta variant could spread more widely, slowing the U.S. and global economic recovery. A slowing economy raises the odds that the Federal Reserve will leave interest rates near zero for a longer time, boosting gold’s outlook. We may learn more about the dollar and interest rates when the Fed holds a virtual meeting this weekend. Also, the dollar was up 4% year-to-date last Thursday before falling. Gold tends to move in a mirror image to the dollar with Gold rising as the dollar falls.

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August 2021 - Week 3 Edition

Gold Rises Again

Gold corrected itself on Friday, August 6th with a strong jobs report, but then recovered even stronger in the following week. A strong jobs report led some nervous traders to fear the Federal Reserve might raise interest rates or stop Quantitative Easing (QE) sooner than expected. Over the weekend, from August 7-8, gold dipped to $1,680 per ounce at one point, a four-month low. Silver also fell and hit $22.30, but both precious metals recovered the following week. Gold added back about $110 or roughly 90 percent of its losses to $1,789 on Monday morning, August 16.

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August 2021 - Week 1 Edition

President Biden Believes the More We Spend, the Less Inflation We’ll See

Twice in one week, President Biden indicated the more we spend, the more prices go down! First, on Monday, July 19, he said that more government spending “will be a force for achieving lower prices for Americans.” Then, on Wednesday, June 21, he said during a live CNN town hall broadcast that his multi-trillion-dollar spending spree will “reduce inflation.”  We wonder on which planet the President lives. Perhaps it’s the same planet where the Fed Chairman Jerome Powell says inflation is transitory.

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July 2021 - Week 3 Edition

The New American Eagle Has Landed in our Offices! Call to Claim Yours

The promised delivery of new Gold and Silver American Eagles has just arrived in our vaults. The Eagles have landed!

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July 2021 - Week 2 Edition

Gold Roars in July

Gold Rose 1.54% Last Week and has remained over $1,800 since Monday morning, July 12.

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July 2021 - Week 1 Edition

Parent Companies of PCGS and NGC are Bought Out – a Sign of Rising Certified Rare Coin Demand

Now we see that Certified Collectibles Group (CCG), the parent company of NGC, has sold a majority stake in their firm to a major investment firm, Blackstone, whose assets under management in 2020 totaled $619 billion. CCG is a recognized authority in all forms of collectibles, including stamps, coins, comic books, sports memorabilia and paper money.

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June 2021 - Week 5 Edition

Gold Mining Supply Declines for the Second Year in a Row

Most markets are based on supply and demand. The supply of new gold is extremely limited, and finding new gold is getting harder each year, while the supply of new dollars is expanding by trillions each year. 

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June 2021 - Week 4 Edition

New U.S. American Eagles to Debut in July – Get Ready to Buy!

The new gold and silver American Eagles are coming in July with the first design changes since the series debuted in 1986. That means there will be two designs available in the year 2021, making it a “Transition Year,” and a very desirable collectible year for investors and collectors alike.

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June 2021 - Week 3 Edition

A Record-High $18.9 Million Paid for a One-of-a-Kind 1933 Gold Coin

Until last week, the most money any single rare coin fetched was $10 million. That was the 1794 Flowing Hair silver dollar, which sold for $10 million in 2013. Instead of rising by baby steps to $12 million or so, the highest price paid for a rare coin almost doubled last week to $18.9 million.

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June 2021 - Week 2 Edition

Most Commodities are Soaring as the U.S. Dollar Has Fallen Nearly 12% in the Last 15 Months

Despite a short, sharp rally late last week, the U.S. Dollar Index (DXY) is down 3.5% since March 31, 2021, and it is down almost 12% since the COVID-19 lockdown began on March 15, 2020, when the Federal Reserve and Congress began authorizing trillions of new dollars in relief and stimulus spending.

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June 2021 - Week 1 Edition

Gold Surpasses $1,900!  Get You Some!

Gold surpassed $1,900 last week and stayed above that new floor for the rest of the week, closing out May at $1,912 an ounce. Gold had not closed above $1,900 since the first week of January and silver surpassed $28 an ounce for only the second time since September 1, 2020, so the metals were on a strong surge going into Memorial Day. In the past 10 days, the 10-year Treasury yields have come down about 10 basis points, from 1.68% to 1.58%, giving gold an advantage while inflation is rising – pushing “real” interest rates further below zero. Meanwhile, the U.S. Dollar Index continues to meander lower, falling 1.5% during May, while the Biden Administration continues to over-spend and the Federal Reserve continues to be “accommodative” or more commonly known as, printing money.

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May 2021 - Week 4 Edition

Gold and Silver Soar

Gold reached its highest level since January 7 on Tuesday, May 25, as the dollar reached a three-month low.  The dollar is down 4% since April 1 – driven down by inflation fears and unprecedented deficit spending, as well as by new global threats erupting in the Middle East and Far East.

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May 2021 - Week 3 Edition

Global Uncertainty is Rising -- This Uncertainty (Like “Carter 2.0”) is Good for Gold

The first four months of the Biden Administration feel eerily similar to the four full YEARS of the Carter Presidency as foreign powers sense the new weakness in Washington.  So, they are flexing their muscles overseas, while the spendthrift Congress is creating record deficits and high inflation at home.  This may be bad for America but it is good for gold and rare coins!

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May 2021 - Week 2 Edition

The U.S. Dollar Has Fallen 3% in the Last 40 Days and 10% in the Last Year

The U.S. Dollar Index (DXY) is down 3% since March 31, 2021, and down 10% since May 10, 2020. The tremendous expansion of the U.S. money supply in the last year has resulted in the devaluation of the dollar and a rise in gold prices.

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May 2021 - Week 1 Edition

Month-End Summary: Precious Metals Edged Stocks in April

During April, Gold and Silver averaged over 6% gains, while the major stock market indexes averaged under 4% gains, so metals are finally coming alive this year, after a weak first quarter.

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April 2021 - Week 5 Edition

LBMA Sees an 11.5% Gold Rise and 38.7% Silver Increase in 2021

Every January, the experts at the London Bullion Metals Association (LBMA) predict the prices of the major metals for the year ahead. Their report was published in early February when gold was around $1,800 and silver was around $27 per ounce.

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April 2021 - Week 4 Edition

Rapid Inflation Surge Pushes the U.S. Dollar Lower & Gold Higher

As we indicated in last week’s Metals Market Report, gold rose on the previous Friday due to a robust increase in the Producer Price Index (PPI), released on Friday, April 9.

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