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Gold and Silver Rocket Back!
October 29, 2007

Precious Metals Surge

All of us in numismatics remember that brief over-indulgent period from 1979 to 1980 when Gold shot well above $800 an ounce and turned the collecting hobby and the investment world on their ears. Coin dealers called it "The Party" and fortunes were made and lost through the winter months.

Today Gold climbed more than $17 to get past the $780 mark. As of this posting Gold is at $785, a 27 year high for the worlds metal of choice.

The correction of this past Monday most likely was viewed as a buying opportunity by many investors as soon as oil began to rise and the dollar to fall against the euro once again. Crude oil hit $92 a barrel on Friday while the Euro grew to nearly 1.44 to the dollar.

The continuing bull run of precious metals has also driven silver up to $14.25 as of this posting, with Platinum, Palladium and copper all following suit.

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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