On The Brink Of An Apocalyptic War With Iran, And Most Americans Don’t Seem To Care

Courtesy of End of the American Dream Blog May 7, 2019 by Michael Snyder

This is the closest that the U.S. has been to a war with Iran in decades, and yet most Americans are either clueless or they don’t seem to believe that it could actually happen.  And I certainly don’t think that President Trump wants a war, but he is surrounded by war hawks that have been pushing an extremely aggressive “get tough” policy with Iran.  The Trump administration just canceled the waivers that were allowing other nations to continue purchasing Iranian oil, and the goal of that move is to reduce Iranian exports to zero.  But oil exports are 40 percent of the Iranian economy, and the Iranians understand that this move could absolutely cripple their economy.  The Iranians have threatened to close the straight of Hormuz in retaliation, and that would almost certainly provoke a U.S. military response.  In addition, it is being reported that on Wednesday the Iranians will announce that they are taking steps to restart their nuclear program…

On Wednesday, Iranian President Hassan Rouhani is expected to announce small steps to resume his country’s nuclear program. According to the New York Times, that will include conducting research on centrifuges that can make nuclear fuel, and curbing nuclear inspections from observers.

Of course the truth is that the Iranians never fully abandoned their nuclear program in the first place, but that is supposed to be a big secret.

In any event, tensions between the U.S. and Iran have now reached frightening levels.

On Sunday, White House National Security Adviser John Bolton announced that the USS Abraham Lincoln and four B-52 bombers are being sent to the Middle East as a message to Iran

Four B-52 Stratofortress bombers are being sent to the Mideast to support the aircraft carrier Abraham Lincoln in moves aimed at countering threats from Iran, U.S. Central Command said Tuesday.

The B-52s, from Barksdale Air Force Base, Louisiana, are deploying to Al Udeid Air Base in Qatar, a hub for U.S. air operations in the region, CBS News reported.

Apparently there was some intelligence which indicated that Iran was planning a possible attack on U.S. forces in the region, and Bolton said that these deployments would make it very clear that any assault would be “met with unrelenting force”

The deployments would “send a clear and unmistakable message to the Iranian regime that any attack on United States’ interests, or on those of our allies, will be met with unrelenting force,” he said in a statement. “The United States is not seeking war with the Iranian regime, but we are fully prepared to respond to any attack, whether by proxy, the Islamic Revolutionary Guard Corps, or regular Iranian forces.”

In response, the Iranians accused the U.S. of engaging in a form of “psychological warfare”.

In addition to everything else, CNN is reporting that it appears that the Iranians have been “moving short-range ballistic missiles aboard boats in the Persian Gulf”, and this has deeply alarmed U.S. officials…

Intelligence showing that Iran is likely moving short-range ballistic missiles aboard boats in the Persian Gulf was one of the critical reasons the US decided to move an aircraft carrier strike group and B-52 bombers into the region, according to several US officials with direct knowledge of the situation.

The concerns over the movement of the missiles was one of multiple threads of intelligence from various sources that led the US to believe Iran had a capability and intention to launch strikes against US targets.

If both sides rattle their sabers for a while but nothing ever comes of it, we will be fine.

But if someone goes a little bit too far and the missiles start flying, we could be soon engaged in a conflict that could literally spark World War 3.

While they are certainly no match for the U.S., the truth is that the Iranian military is quite strong, and they possess weapons of immense destructive power.  And in the event of a military conflict with the U.S., the Iranians have already said that they will hit Israel too.

And if Israel gets hit, they will certainly strike back at Iran extremely hard.

The Iranians absolutely hate both the United States and Israel, and recent moves by the Trump administration have pushed the Iranians into a corner.  The following comes from Pat Buchanan

Did President Donald Trump approve of this? For he appears to be going along. He has pulled out of the Iran nuclear deal and re-imposed sanctions. Last week, he canceled waivers he had given eight nations to let them continue buying Iranian oil.

Purpose: Reduce Iran’s oil exports, 40% of GDP, to zero, to deepen an economic crisis that is already expected to cut Iran’s GDP this year by 6%.

Trump has also designated Iran a terrorist state and the Republican Guard a terrorist organization, the first time we have done that with the armed forces of a foreign nation. We don’t even do that with North Korea.

A cornered animal is extremely dangerous, and at this point the Iranians may feel as if the only option they have left is to lash out.

As a first step, they could potentially close the Strait of Hormuz, and that would instantly create a global oil crisis.  Here is more from Buchanan

Iran has also warned that if we choke off its oil exports that exit the Persian Gulf through the Strait of Hormuz, the Strait could be closed to other nations. As 30% of the world’s oil shipments transit the Strait, closing it could cause a global crash.

In 1973, when President Nixon rescued Israel in the Yom Kippur War, the OPEC Arabs imposed an oil embargo. Gas prices spiked so high Nixon considered taking a train to Florida for Christmas vacation.

Of course a potential war with Iran is not even on the radar for most Americans these days.  Most of us are preoccupied with other things, but if the missiles start flying this will instantly become the top news story on the entire planet.

Wars never start in a vacuum.  In every major war throughout history, there has always been a series of steps that has ultimately resulted in the outbreak of war.

Without a doubt, the U.S. and Iran are moving toward war.  That doesn’t mean that one will happen, and we better hope that it doesn’t, because it would have all sorts of apocalyptic consequences.

So let us hope that cooler heads prevail.

Unfortunately, there doesn’t appear to be any “cooler heads” among Iranian leadership, and Trump has surrounded himself with war hawks like John Bolton and Mike Pompeo.

In the end, Trump himself will make the final call on any conflict with Iran, and let us hope that he makes the right one.

1879-S Liberty Double Eagles NGC/PCGS MS61

Ten Tough $20 Lib. S-mints

The San Francisco Mint continued to be the chief producer of double eagles in 1879, striking more than 1.2 million coins (about 1 million pieces more than all three other mints combined). However, Uncirculated examples are seldom offered finer than MS61 and are decidedly rare finer than MS62. If you’re looking for one of those MS62’s you should know that it’s likely to cost more than three times the amount of these MS61’s. Listed at $3,750 in both the CDN CPG and the NGC price guide and $4,250 in the PCGS price guide.

We have ten coins available…

Offered at $3,350 each delivered

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Over $5.6 Million in U.S. Coins Sold in Baltimore

Posted on June 6, 2019 courtesy of Numismatic News Staff

Santa Ana, CA –  Collectors from across the country descended on Baltimore’s Inner Harbor in the days leading up to Memorial Day, where two days of exciting auction sessions in their May 2019 Official Auction of the Whitman Coins & Collectibles Summer Expo. Highlighted by the Drummer, Fairmont and Newmark Collections, over $5.6 million in United States coins and Numismatic Americana were sold, kicking off an exciting summer season of auction events for the firm. All prices include the 20% buyer’s premium.

The Baltimore Auction featured an astounding selection of Flying Eagle and Indian Head cents. Several rarities from these series were presented in Session 1, including a Proof-65 RD (PCGS) 1865 cent which brought $13,200 (lot 29) and a Gem MS-66+ RD (PCGS) 1898 cent that realized $10,800 (lot 80).

A surviving Proof 1865 Indian cent, this coin is a significant example of the rare Snow-PR1 die pairing.  Sold for $13,200. (Image courtesy of Stack’s Bowers)

Small cents continued to shine in Session 2, which featured the Rarities Night portion of the sale followed the Fairmont Collection of US Gold Coinage.

A beautiful Proof-66 (PCGS) 1856 Flying Eagle cent sold for $50,400 in lot 1005, and a Proof-65 BN (PCGS) CAC 1864 Indian Head cent with L on Ribbon earned $45,600 in lot 1016. Strong demand was demonstrated for key-dates and iconic rarities throughout the session, as was demonstrated by the $99,000 price realized by the MS-66+ FH (PCGS) CAC 1916 Standing Liberty quarter in lot 1059.

The star of the evening was the incredible 1879 Flowing Hair Stella offered in lot 1089. Certified Proof-66 UCAM by NGC with only three examples finer, it brought $234,000.

Three exceptional $50 slugs from the 1915 Panama Pacific Exposition were offered in the session, highlighted by a MS-64 (PCGS) Octagonal example (lot 1135), that earned $90,000. Bringing the session to the close was the Fairmont Collection, featuring desirable key-date issues from the Liberty Head gold series. An AU-58 (PCGS) CAC 1854-S double eagle was the highlight of this offering, realizing $21,600 in lot 1177.

The production of small-diameter cent patterns began in 1850, and by 1856 the desire to create a new format cent for circulation was great. The Mint in Philadelphia struck close to 1,000 examples of James B. Longacre’s Flying Eagle design type for distribution to important individuals.  (Image courtesy of Stack’s Bowers)
An eagerly sought key date issue, this 1916 Standing Liberty quarter sold for $99,000.  Just 52,000 of this year were minted. (Image courtesy of Stack’s Bowers)

As a “type coin,” the 1879 Flowing Hair Stella is a significant numismatic rarity, even more so from a market availability standpoint given the strong demand among advanced collectors. Sold for $234,000. (Image courtesy of Stack’s Bowers)
The San Francisco Mint struck 1,500 examples of this 1915-S Panama-Pacific $50 for sale at the Exposition.  The original asking price was $100, but later discounted when offered within sets. (Image courtesy of Stack’s Bowers)

The most highly anticipated item of the sale was offered in Session 4, where an original striking of the Washington Before Boston medal in silver was presented (lot 3031). A newly discovered piece, this example was certified Specimen-61 by PCGS and is one of just 11 examples known. After intense activity, it sold for $156,000.

Attracting similar excitement was the 1905 Theodore Roosevelt Inaugural medal in lot 3060. Designed by Augustus Saint-Gaudens, produced by Tiffany, and struck in bronze, it realized $31,200.

As reported in last week’s Numismatic News Express, this example of the famous Washington Before Boston Medal in silver drew $156,000 in the auction. (Image courtesy of Stack’s Bowers)

Selling for $31,200, an American Classic MCMV (1905) Theodore Roosevelt inaugural bronze medal is one of just 150 examples authorized to be produced by Tiffany in bronze. It was found in the consignor’s grandmother’s jewelry box after her passing. (Image courtesy of Stack’s Bowers)

The session was brought to a close with an exciting offering of colonial and early American coins, including a selection of New Jersey coppers from the Collection of Larry L. Terrell. Highlights from the Terrell Collection included an EF-45 (PCGS) 1786 Maris 15-T that brought $5,280 (lot 3201) and a Condition Census EF-40 (PCGS) 1787 Maris 73-aa that realized $8,400 (lot 3241). A VF-30 (PCGS) Albany Church Penny in lot 3255 brought $21,600 and an AU-53 (PCGS) Washington Funeral Urn medal with GW on the Base earned $26,400 in lot 3268, claiming the top price among colonial issues.

The Albany Church pennies are attributed to the First Presbyterian Church of Albany, New York and were produced as a result of a resolution passed by the church elders on January 4, 1790. These pieces were intended to provide parishioners with coppers to place in the Sunday offering plates. (Image courtesy of Stack’s Bowers)
A 1787 New Jersey Copper Maris 73-aa, which was overstruck on an 1787 Connecticut Copper realized $8,400 at the Stack’s Bowers Whitman Expo on May 24. (Image courtesy of Stack’s ToppinBowers)


1924-D Saint Gaudens Double Eagle PCGS MS64

This one is a toughie.

Despite its substantial mintage of more than three million pieces, the 1924-D double eagle has always been an elusive issue. Most of the coins were held in Mint vaults or Federal Reserve Banks until the Gold Recall of 1933, and subsequently melted into gold bars for storage at Fort Knox. Comparatively few reached circulation in this country and the issue was believed to be quite rare in the 1940s. Fortunately, some of the exported coins were returned to the U.S., beginning about 1950, and the supply has been considerably augmented since then. The 1924-D is still scarce in MS64 condition, and very rare in higher grades. Only twelve have been graded 65 or higher by PCGS. Listed at $11,600 in the CDN CPG, $11,000 in the PCGS price guide and $12,500 in Trends.

Offered at $10,550 delivered

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1893-CC Morgan Dollar PCGS MS64

Virtually Color-Free

The 1893-CC dollar is an issue that is hard for collectors to resist since it has so much going for it. It is the final year of issue for the Carson City mint, it has a relatively low mintage of 677,000 pieces, and better-grade Uncirculated pieces are a semi-key issue in the Morgan series. Two problems are widely known by collectors for this issue, weakness of strike and pervasive bag-marks. This particular coin is fully struck in the centers, unlike many Mint State survivors. Listed at $15,700 in the CDN CPG and $15,000 in both the PCGS price guide and Trends.

Offered at $14,300 delivered

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Dr M moots currency backed by gold

Courtesy of FMT News

Prime Minister Dr Mahathir Mohamad speaks at the 25th International Conference on The Future of Asia in Tokyo today. 

TOKYO: Prime Minister Dr Mahathir Mohamad says Malaysia is proposing a new currency based on gold, as this would be more stable than the current currency trading which is manipulative.

He said the precious metal could be used to evaluate import and export activities among the East Asian countries.

“We can make settlements using that (new) currency (using gold). That currency must relate to the local currency as to the exchange rate, and that is something that can be related to the performance of that country.

“That way we know how much we owe and how much we have to pay in the special currency of East Asia,” he said during a dialogue session at the 25th International Conference on The Future of Asia (Nikkei Conference) here today.

Mahathir arrived in Tokyo last night for a three-day working visit.

He said the new currency could also be extended to countries outside the East Asian region.

Currently, he said, the global market is tied to the US dollar, which gives room for the currency to be manipulated.

“Just because that one country is affected, there is infection to the other countries. Malaysia was very stable way back in 1997… but because of the problems that occurred in Thailand (during the Asian financial crisis), they said we must peg the Malaysian currency also.

“What happened? The currency traders sold the Malaysian currency down and the value of Malaysian currency depreciated.

“It is not even the money that they have. They never had any Malaysian currency but nevertheless they were able to sell huge quantities of Malaysian currency and when it is depressed, of course they can buy and sell it at a higher price when it comes up,” he added.

“Currency trading is not something that is healthy because it is not about the (economic) performance of countries but about manipulation.

“Anything that you have in oversupply, we will lose value. Anything that is short of supply will increase in value so they sell huge quantities of money they don’t have, and because the amount is so big, there is depression of the value.”

Mahathir said if countries are downgraded or upgraded, it should be by an uncommitted international forum, not a country.

Here, he hit out at the US for “labelling” other countries.

“The US is fond of labelling that country as no good, this country as no good, and telling countries about ways to conduct their businesses.

1860-S Liberty Double Eagle PCGS MS61

Rare Mint State

 The 1860-S Type One Liberty double eagle claims a mintage of 544,950 pieces, a substantial production total in absolute terms, but slightly smaller than average for a San Francisco issue from this period. The coins were released into the channels of commerce, where they circulated heavily for many years, suffering the usual wear and attrition along the way. Few high-quality examples were saved by contemporary numismatists and the issue is rare in Mint State grades today. The current PCGS population is 16 with 12 higher. This particular example is a bit lighter and brighter than seen on our images. Listed at $16,300 in the CDN CPG and $12,000 in the PCGS price guide.

Offered at $10,750 delivered

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1866 Three Dollar Gold Piece PCGS MS64

Rare, Flashy Near-Gem

Struck shortly after the close of the Civil War, the 1866 three dollar gold piece was not saved in any meaningful quantity by collectors, and thus its low 4,000-coin mintage had more of an effect on high-grade availability than can be said of the mintages of later issues in the series. Mint State survivors are scarce across the board, but are notably rare above the MS62 level. The example offered here is highly lustrous and flashy, with a lovely overall appearance. The PCGS population is only 7 with 5 higher and if you were even able to locate an MS65 example, it would likely be more than double the price of this coin.  Listed at $16,300 in the CDN CPG, $13,000 in the PCGS price guide and $17,500 in Trends.

Offered at $12,850 delivered

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1915-S Pan Pac $50 Round NGC MS66

The Panama-Pacific Exposition was authorized to sell up to 1,500 examples each of both the Round and Octagonal versions of the Pan-Pac fifties, and the Mint struck 1510 examples of the Round version, including 10 examples for the Assay Commission. Unfortunately, the high cost of the coins ($100 per coin) discouraged all but the most dedicated collectors, and only 483 specimens of the Round design were sold. The remaining 1,017 coins were melted after the close of the exposition. These rare gold commemoratives are avidly sought-after in today’s market.  NGC population of only 19 with 5 higher. If you’ve never held one of these massive and extremely impressive coins in your hand, you owe it to yourself to do so. Listed at $260,200 in the CDN CPG and $260,000 in the NGC price guide.

Offered at $209,000 delivered

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1854 Kellogg & Co. $20 NGC AU58

The California economy suffered from an acute shortage of coinage after the United States Assay Office closed in late 1853, until the San Francisco Mint began coinage operations on a large scale in 1854. Even after the Mint was officially established, shortages sometimes limited production, putting extreme pressure on the small supply of coinage available to meet the needs of the burgeoning economy. To fill the gap, John G. Kellogg partnered first with G. F. Richter in late 1853 and 1854, then with Augustus Humbert in late 1854 and 1855 to produce twenty dollar gold pieces, filling the gap of production between the closure of the U.S. Assay Office and the start-up of the new San Francisco Mint. NGC has graded only 131 pieces for all grades combined. Listed at $24,200 in the CDN CPG and $21,200 in the NGC price guide.

Offered at $18,500 delivered

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(800) 257.3253 
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Price is based on payment via ACH, Bank Wire Transfer or Personal Check. 
Major Credit Cards Accepted, add 3.5%
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