GOLD COIN AND MEDAL UPDATE

The most significant auction in historical gold medals in recent history has just been completed at Stacks Bowers Auctions.  The Duke of Lansing collection featuring many high grade British gold coronation and jubilee medals brought historically high prices.  The Charles II coronation and William and Mary coronation in gold pictured above both brought just a touch below $40,000.  Each of these is the finest of these rare issues to have been auctioned in recent memory.  Many others hammered at record levels.  

  this George VI medal in SP 64 brought $28,800.  Last year at the New York International the same medal in the same grade brought $16.500.  With a mintage of only 274 pieces in this high grade the medal is certainly worthy of such a high bid, but the jump from year to year is remarkable.

Even the silver coronation medals are following suit.  Last year a George I silver coronation medal in sp 63 sold for $2000.  This year an SP 64 sold at Heritage for $7000..

These high prices were not confined to the medals selection. Both at Stacks and Heritage high grade coins of interest brought historically high prices.  

The reason for this jump in prices should be obvious to anyone who has been tracking global central bank activity.  The Federal Reserve Bank in the United States alone has printed 10 trillion dollars this year in order to acquire the bad debt of US and International Corporations and Banks that it deemed necessary to preserving the global financial system.  The ECB and the Bank of Japan and printing money at a similarly Furious pace.  Concomitantly the price of bullion gold is at record levels in nominal terms through when adjusting for real inflation (not the absurd central bank inflation figures) the price is sure to go much higher.

So you can look at it as real assets are inflating at a terrific rate - or the value of paper money is being destroyed at a terrific rate.  It amounts to the same thing.  And the trend is only accelerating