Author: Sirhc

Silver Just Had Its Best Month In 40 Years: Here Are July’s Best And Worst Performing Assets

Sirhc

by Tyler DurdenMon, 08/03/2020 – 13:22

When looking at the torrid market performance in July, Deutsche Bank’s Jim Reid notes that silver (+35%) had its best month since December 1979 while the dollar the worst for a decade. US equities had a good month in spite of rising virus caseloads due to a strong earnings season relative to expectations, especially in tech towards the end of the month. YTD Silver, Gold and the NASDAQ have been the three best performers while at the bottom of the leaderboard Brent, WTI and European Banks are all down at least 30%.

Below we present some of the key highlights from Deutsche Bank’s July 2020 performance review

While July proved to be another decent month for risk assets, it was the performance of two other assets in particular which caught the eye. The first was Silver, which had its strongest month since December 1979. The second was the weakness in the USD, which ended with the USD spot index dropping by the most in a single month since September 2010.

Indeed the impact of the latter was fully felt when looking at returns in USD terms, with 36 of the 38 assets in DB’s sample finishing with a positive total return. In local currency terms, that number dropped to a still-impressive 30 assets. As markets move into August, typically a more subdued month for volumes but perceived to be a weaker month for risk, the focus remains on the reopening of economies on the one hand and signs of rising cases in certain countries on the other.

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1907 Rolled Edge $10 Indian PCGS MS65

Sirhc

Breathtaking Rarity

Struck in September 1907, the “Rolled Edge”) 1907 Indian eagle is one of the rarest issues in the series, surpassed only by the 1933. It retains the smooth, sculpted details of Augustus Saint-Gaudens’ original Wire Rim models but with a defined border that Chief Engraver Charles Barber turned into the die in an effort to improve stacking of the coins. Although 31,500 pieces were struck, most of the coins never left the Mint, as all but 50 were melted. In Renaissance of American Coinage, 1905-1908, Roger Burdette lists 10 pieces as having gone to the Mint Bureau, two to the Metropolitan Art Museum, and eight to Mint officials, which left 30 pieces on hand at the Mint that could be acquired by collectors. Although understandably, most have been carefully preserved, the PCGS population is still just 17 with 19 higher (no doubt, including a fair number of re-submissions).

Offered at $299,900 delivered

We do business the old fashioned way, we speak with you.

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.

1776 Continental Dollar, Currency, Pewter PCGS AU50

Sirhc

Way Cool

While the origin and purpose of the 1776 Continental dollar has long been an intriguing topic of discussion among numismatists and researchers, Eric P. Newman believed that these coins were American-made. Further, the fact that the Continental Currency paper $1 notes were eliminated from the six issues from July 22, 1776, through September 26, 1778, indicates that Congress planned for a $1 coin, and that the Continental dollar was used as fiat money. Multiple varieties  exist, and varying quantities of coins were struck in pewter, brass, and silver from multiple die combinations and die stages. For every genuine one such as this, there seem to be nearly countless copies, many of which were sold in souvenir shops.

Offered at $43,700 delivered

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.

1834 Classic Quarter Eagle NGC MS65

Sirhc

A Real Classic

The 1834 remains the most plentiful Classic Head quarter eagle issue in high grade, despite its mintage of little more than 112,000 pieces being significantly lower than the production totals of the following two years. In the years leading up to 1834, gold coinage did not actively circulate in the United States, as the coins contained more bullion value than their face value, prompting individuals to melt the coins down at a profit. In 1834, William Kneass’s design marked a reduction in weight from 4.37 gm to 4.18 gm. The weight reduction returned the gold value of the quarter eagle to its face value, allowing this denomination to once again circulate domestically. This one is sharply detailed and highly lustrous with flashy, semi-prooflike surfaces. The NGC population is just 15 (two of which are star coins) with two higher.

Offered at $37,975 delivered

We do business the old fashioned way, we speak with you.

(800) 257.3253
8:30 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.

Were buying unspotted generic slab gold PCGS/NGC

Sirhc 
$20 Liberty    PCGS/NGC MS61 @ $1,985 - buy 1-100 coins

$20 Liberty    PCGS/NGC MS62 @ $2,095 - buy 1-100 coins

$20 Liberty    PCGS/NGC MS63 @ $2,190 - buy 1-100 coins

$20 Liberty    PCGS/NGC MS64 @ $2,463 - buy 1-100 coins

$20 Liberty    PCGS/NGC MS65 @ $2,785 - buy 1-20 coins

$20 Saints     PCGS/NGC MS62 @ $2,000 - buy 1-100 coins

$20 Saints     PCGS/NGC MS63 @ $2,055 - buy 1-100 coins

$20 Saints     PCGS/NGC MS64 @ $2,143 - buy 1-100 coins

$20 Saints     PCGS/NGC MS65 @ $2,390 - buy 1-100 coins

$20 Saints     PCGS/NGC MS66 @ $2,805 - buy 1-50 coins

Based on gold bid spot $1,955

Prices will adjust with gold.

We do business the old fashioned way, we speak with you. Give us a call for price indications and to lock trades.

(800) 257.3253
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Private, Portable, Divisible Wealth Storage

Silver down over 3% on the day as buyers show further signs of exhaustion for now

Sirhc

Silver falls to $23.50 and back under its 100-hour moving average

Silver 30-07

The moves in silver and gold remain a major theme in the market this week and we are seeing further signs of a pullback with silver down by over 3% on the session now.
More notably, price action is starting to break its 100-hour MA (red line) after having twice moved below that but only to hold at that level in the end this week.
If anything, this points to further signs of exhaustion on the part of buyers – for now.
Gold is also down by nearly 1% to $1,951.75 currently as the dollar is keeping firmer.
In the case of silver, there is some support from the overnight low @ $23.34 next but the 28 July low @ $22.31 will be one to watch moving forward if sellers are to try and push for a sharper pullback after the parabolic rise over the past two weeks.

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Precious Metal ETFs Shines in July

Sirhc

Amid rising U.S.-China tensions and worsening COVID-19 crisis, precious metals have become attractive and more appealing to investors. Gold has skyrocketed to an all-time high nearing $2,000 per ounce while silver has jumped to the highest level of nearly $25 in seven years.

The weakness in the U.S. dollar against major global currencies also raised the metal’s attractiveness, as it does not pay interest like fixed-income assets. The Bloomberg Dollar Spot Index is poised for its worst July in decades, having lost 3.9% so far this month. The index is trading at the lowest since 2018. Additionally, massive liquidity injections by central banks across the globe and hopes of further stimulus supported the price of metals.

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Silver to surge above $35 after taking a breather – Credit Suisse

Sirhc

Silver has established its looked for base and has already moved to the first resistance at $26.09/22. Whilst strategists at Credit Suisse look for a pause here, they see scope for further gains ahead, ideally to $35.23/365. 

Key quotes

“Silver has seen an even more dramatic move higher than Gold over the past few weeks, confirming the flagged multi-year base above $19.65, and strength has already extended to our flagged resistance at $26.09/22 – the 38.2% retracement of the entire 2011/2020 bear market and key lows from 2011 and 2012.”

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1796 Draped Bust Quarter NGC XF45

Sirhc

Rare, First and Only Year of Type

The Small Eagle quarter ranks among the rarest silver types. It was struck only in 1796, due to the preference of bullion depositors for the dollar, the largest silver denomination. The mintage was a meager 6,146 pieces. The Spanish Colonial two reales coins were also widely available in the late 18th century and the first half of the 19th century in America and elsewhere, worth 25 American cents and widely accepted as an alternative to the U.S. quarter. The fledgling U.S. Mint, with its limited bullion deposits and meager capacity, could scarcely compete with the pervasive Spanish Colonial coins. NGC has graded only 195 examples (including re-submissions) in all grades combined. 

Offered at $46,000 delivered

We do business the old fashioned way, we speak with you.

(800) 257.3253
9:00 AM – 5:00 PM CST M-F
Private, Portable, Divisible Wealth Storage

Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.