coins are the best buy right now Thursday, June 19,
Casey Research editor
touts the virtues of rare gold collectibles
Doug Casey is a legend among
contrarian investors, and his Casey Research financial news
site is a must-read source of information for anyone interested
in precious metals, mining, inflation, currencies, and other
key financial topics.
Therefore, it’s no surprise that in a recent
feature titled “What Casey Research Staff Are Buying This
Summer,” most staffers mentioned physical gold and silver
bullion as well as mining stocks. That’s what regular readers
expect to hear.
However, perhaps senior editor Doug Hornig
offered up the most interesting buy recommendation: rare
“I think quality numismatic coins are the
best buy right now, which I’ve focused on, because they’re
down 50% or more from their highs, which is a lot more than
gold itself. If collectibles rebound as they always have,
I’ll do very well. But if not, I still have the value of
the underlying asset, gold, which provides a powerful amount
of downside protection, and that’s not to be sneezed at.
“I don’t buy gold as a speculation; just
as an heirloom (hopefully, provided I don’t need it myself)
for my kids. So I couldn’t care less about the gyrations
of the gold price. Anyone who wants to play those ups and
downs is welcome to, and it could be very profitable to
do it. It’s just not for me. I’m strictly buy and hold.”
Hornig’s take is a reminder of the importance
of diversification. Don’t put all your money into stocks
and bonds, but make room for some gold and silver bullion.
And don’t put 100% of your money into precious metals, either.
However, physical bullion is a bedrock component of any
prudently diversified portfolio. But don’t stop there with
bullion. Diversify your metals holdings with some rare coins,
which can help investors ride out the fluctuations of the
stocks and bullion markets while also offering up the potential
for huge appreciation from their collectible and historical