This guy doesn't seem to know jacques schidt about gold, and he is full of old mid-20th-century notions about monetary markets.

Inaccuracies of "1950s Textbook" Professor David McMillan:

#1 - Professor: "As a financial asset, gold offers no income"

Mondo: "Gold is no different for investors than those who elect automatic dividend reinvestment for their stocks. The idea is to build wealth. You can take your income whenever you want to sell some or all of your portfolio. Numismatically-significant coins are different than bullion gold in that they grow faster in value and are less susceptible to market fluctuations."

#2 - Professor: "The “safe-haven” role of gold implies a negative correlation between stocks and gold. That is to say, when one rises the other falls – and vice versa."

Mondo: "Gold has steadily risen and correlates well with the DJIA, S&P 500 and NASDAQ"

The recent fluctuations in gold are the result of big firms and banks buying large quantities of gold and other precious metals, causing a spike, then dumping it to make a quick profit on their books as interest rates decline and eat into their profit margins. It's called "profit-taking". They will then buy again at the lower price which drives the price back up.

The current price of bullion gold is consistent with its long-term growth pattern. Meanwhile, numismatically-significant coins have beat the crap out of all the stock indices while pretty much ignoring fluctuations in the spot market.

Even relatively recent gold (and silver) coins have skyrocketed. A good example: the 2021 UK "Queen's Beasts Completer" coin. The 2-ounce silver 2021 issue price was about $17/ounce. Current price is about $175/ounce for an ungraded coin, a gain of 1029%; the coin in MS70 grade sells for $3,000 to $4,500 ... a gain of 17,647% to 26,470% ... and if you can find one, you better go for it now. The 1-ounce gold issue price was about $2200, and currently would cost about $25,000 or more in NGC MS70 condition if you can find one. There's one of the initial issues available on eBay for $69,998.

Click to see MS 70 silver coin sale listing

Here's the elusive gold beauty:



Click to see the $70,000 version

The American Liberty Gold Series are doing as well. Again, these are recent issues.

When you get into older rare coins, the gains are more dramatic.

The difference between stocks and gold bullion and rare coins is easy to explain. There is an ample supply of stocks and gold bullion to satisfy the market demand. With rare coins, the supply is fixed at issue, collectors hoard them, and the availability diminishes over time, resulting in high prices and dramatic gains. Coin collectors are far more numerous than art collectors vying for a shrinking market, so that might explain why some nut would pay more for a 1909-S V.D.B. penny in MS70 condition than a Renoir "Bal du moulin de la Galette", if they could find either.



So, no worries, gold and silver will continue to rise, and will again surpass recent highs.

Meanwhile Chris, gold is not your strong suit. You might be better off sticking with something you know, like that homely, frustrated Miss Cox's edgy bullshit.

PS: The real fluctuation in price to worry about is Bitcoin - $126,000 to $63,000 in 5 months. That's like Olympic downhill skiing without gold medals awarded ... a rapid decline for nothing.