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QUESTION: I went to the New York present and I sat in on that CNG auction to look at the Diocletian medallion. A good friend stated you informed him you thought it might deliver $750,000 on an estimate of $500,000. Nicely, it introduced $1.9 million to everybody’s shock. It appeared that costs have been typically double estimates on most issues. I used to be curious should you would touch upon that.
Cheers
CP
ANSWER: Sure I do know. I used to be watching it on-line. I have no idea who was the customer or the underbidder. One seller informed me it was a collector. Historical cash are rising as a result of they’re a worldwide market. When you have American, British, or German cash, naturally the perfect market might be in these international locations. Nonetheless, in the case of ancients, there are consumers in China and Russia coming into {the marketplace} along with Individuals and Europeans. Merely put, ancients are a worldwide marketplace for they create to life historical past and far of historical past has even been confirmed by the coinage.
The costs have continued to rise even within the face of rising rates of interest and the Fed’s try to trigger a gentle touchdown. The truth that these cash are nonetheless rising sharply confirms what I’ve been warning that our laptop does NOT see one other Nice Despair and full collapse within the share market. We’re on this development the place cash is solely attempting to get off the grid.
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