Inflation Reached 31-Year Highs in October

Jerome Powell suggests it’s time to stop describing inflation as ‘transitory’

So now we know...Inflation isn’t going anywhere — but prices certainly are. The latest Consumer Price Index for October recorded a 6.2 percent increase.  It’s the largest increase in over 30 years and far outpaced economists’ expectations of a 5.9 percent spike. October’s data represents months of faster rising prices, compared to levels the U.S. economy has seen in years.  Consumers are starting to notice the increasing bite that rising food prices are starting to take out of their monthly budgets. Nearly 60 percent said that grocery stores were where they saw the most dramatic price increases. According to an October survey of US consumers by Bank of America Global Research,
“Inflation hurts Americans’ pocketbooks, and reversing this trend is a top priority for me,” President Joe Biden said in a statement last month.

Meanwhile, Biden’s divided government is likely to create uncertainty in the economy and a boon to safe haven assets like gold. Investors should consider real gold assets given the Federal Reserve balance sheet expansion and understated inflation, says Frank Holmes, chief executive officer of U.S. Global Investors. These are among the reasons why Holmes believes gold will eclipse $4,000 per ounce by 2023. 

This brings us to what may be the best value in the gold coin market today. Pre 1933 $20 gold double eagles. These heavy 1 ounce coins have almost NO PREMIUM compared to their younger cousins (like Gold American Eagles or Canada Maple Leafs)  

Acquiring these Pre 1933 $20 double eagles now can really pay off, maybe in the not so distant future.

It makes good sense to salt away 10 or 20 of these old $20 gold pieces. Do it today before premiums rise.

For a quantity of more than 20 coins please contact Trey Cox directly at 866.789.2646

Special arrangements available for larger orders.

American Rare Coin and Bullion