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Mike Fuljenz Weekly Report

September 2022 - Week 4 Edition

As Hurricane Ian Hits America, Consider Your “Green” Escape Plan

We know many friends in “hurricane country” and hurricanes sometimes hit our homes near Beaumont, Texas. Don’t send any packages to Florida this week. They won’t get there. We wish our friends in Florida and Georgia the best, but I hope you’re not counting on escaping the storm in an electric car or riding out the storm with a “green” generator.

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September 2022 - Week 3 Edition

American Silver Eagle Bullion Coin Premiums are Still Too High

We have reported the fact that Rep. Alex Mooney (R-WV) wrote a letter to Secretary of the Treasury Janet Yellen and Mint Director Ventris C. Gibson on August 25, inquiring about the Silver American Eagle bullion coin delays and shortages. We took a look at the Mint’s September 2022 bullion coin sales and found they had sold 833,000 ounces of Silver American Eagles through September 20. Last September (2021), the Mint sold 2,735,000 Silver American Eagles. This is not an improvement over last September.

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September 2022 - Week 2 Edition

Silver and Gold Looking to Make a Turnaround

Silver soared by over $1 an ounce on Monday, September 12, rising from $18.80 to $19.85, touching $20 at one point. Gold also rose Monday, as the U.S. dollar finally took a dip, with investors waiting for the release of the Consumer Price Index (CPI). On Tuesday morning, the CPI came in “hotter” than expected, which sent both stocks and gold down, since that implied more rate increases down the line.

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August 2022 - Week 5 Edition

Inflated Dollar Keeping Gold Depressed Domestically

The main reason gold is staying low in U.S. dollars but gold is still up for the year in terms of many other currencies. The euro began 2022 at $1.1325 and gold cost 1,607 euros per ounce. Now, the euro has fallen under $1 and gold costs 1,742 euros per ounce, up 8.4% so far in 2022.

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August 2022 - Week 4 Edition, Part 2

Report from the World’s Fair of Money in Chicago – And My Latest Book Award

I gave you a quick market summary earlier this week but now that gold has recovered somewhat and I’ve looked over my notes and photos, I’ve had chance to digest all the news from the annual World’s Fair of Money in Chicago.

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August 2022 - Week 4 Edition

Gold is Behaving Like a Seesaw

Gold has been up and down this summer in a mirror image of the U.S. Dollar index (DXY).

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August 2022 - Week 2 Edition

Deficits Threaten Chronic Depression If Not Addressed Soon

Our current debt-to-GDP level is now 130%, since our GDP is $23 trillion and our federal debt has reached $30 trillion (30 divided by 23 is 1.3, or 130%).  The cost of servicing this $30 trillion in debt is crippling if we ever return to normal late 20th century historical interest rates of around 5%.  That amounts to $1.5 trillion in interest costs per year (5% of $30 trillion), with debts rising each year.

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August 2022 - Week 1 Edition

Coins Usually Hold Up Better Than Most Paper Investments

If you have specific needs or a wish list in mind, be sure to communicate those needs to your account representative so you can be first in line when these rarities become available. I am constantly searching for “Wish List” coins for you.  From as far back as we can measure time, coins made of precious metals have held their value better than paper receipts for wealth.

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July 2022 - Week 4 Edition

The Rare Coin Market Remains “Hot”

Whether gold bullion is declining, flat or rising, the rare coin market remains “hot” in our select sectors. Even while the dollar was soaring and gold was falling – from the end of May to mid-July – rare coins were extremely strong.

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July 2022 - Week 3 Edition

The Dollar Beat all Other G-10 Currencies – with Gold Rising in 8 of 10 Top Currencies

Gold has risen in 8 of the 10 leading currencies through July 12 this year – all but the U.S. and Canadian dollars. 

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July 2022 - Week 2 Edition

Dollar’s Buying Power Affecting Gold Prices

Even though gold is down 4.7% in dollar terms this year, it is up an average of 8 percent in terms of most other major currencies.

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July 2022 - Week 1 Edition

First Half Review – The Worst U.S. Stock and Bond Markets in 150 Years!

By most measures, the U.S. stock market had its worst first half since 1970, and many commodities are soaring, due to rising inflation, but if you dig deeper, the “tale of the tape” looks even worse than that.

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June 2022 - Week 5 Edition

The Number of Gold Investors and Volume of Gold Investing Keeps Climbing

This week, we heard from the Royal Canadian Mint that total international gold bullion coin sales rose in the first quarter by 14%, year-over-year, to nearly 59 metric tons. That made it the best quarter in 35 years for gold bullion coin sales on a global basis, and we know from history that after 18-24 months about one in six bullion coin investors start to look into buying rare coins.

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June 2022 - Week 4 Edition

The Fed Created Runaway Inflation in 2020 and 2021 – Now it is Sopping Up That Money, Depressing Stocks and Bitcoin (But Not Gold)

Metals have held up remarkably well considering the U.S. Dollar is now at a 20-year high against a basket of other major currencies. The dollar is up simply because the Federal Reserve (Fed) is raising interest rates while Europe and Japan are keeping their rates near zero, so investors are pouring cash into 3% dollar returns.

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June 2022 - Week 3 Edition

Honored to Receive Prestigious Award for an Anti-Fraud, Anti-Counterfeit Column

Two weeks ago, on June 3, I was awarded 1st place honors from the Press Club of Southeast Texas for a column I wrote in 2021, entitled “China Continues to Profit from Counterfeit Culture that Jeopardizes Safety and Economy.” I share this honor with my “Team Mike” staff, who helped provide much of the research. Read Part 2 of my award-winning article in this week’s Metals Market Report.

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June 2022 - Week 2 Edition

Honored to Receive Prestigious Award for an Anti-Fraud, Anti-Counterfeit Column

Last Friday, June 3, I was awarded 1st place honors from the Press Club of Southeast Texas for a column I wrote in 2021, entitled “China Continues to Profit from Counterfeit Culture that Jeopardizes Safety and Economy.” I share this honor with my “Team Mike” staff, which helped provide much of the research.

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June 2022 - Week 1 Edition

Gold Beats the S&P         

Through May 31 this year, gold is up about 1% while the S&P 500 is down 13%.

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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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