Real Wealth #248 09/24/2009
Peter Schiff Predicts $5,000, Amazing Roman Gold Discovered
Dear Gold & Energy Subscribers,
Over the past year I have been taking some grief from Wall Street types that believe in paper and see my predictions of $5000 gold as being over the top ranting from a "gold bull".
Those of you who have been reading me of the years know full well I have never been exclusively a gold bull. I’ve been bullish and bearish at different time over the years. I am now best described as an ULTRA BULL. But I’m not alone.
Today there’s a very interesting interview with Peter Schiff a well known and regarded Wall Street analyst and now a candidate for the Republican candidate for Senator Dodd’s seat.
Peter Schiff believes the U.S. is merely experiencing a "rally in a bear market," and is lagging the rest of the world "for a reason." He insists the worst is not over and the Dow Jones will fall 90% from current levels when measured in gold.
In fairness Peter has been a longtime dollar bear and gold bull, and his prediction of gold hitting $5000 per ounce "in the next couple of years," adds another credible source to my LAST CALL FOR GOLD. His reasoning is the Dow Jones and gold will trade on a one-to-one ratio vs. the current level of around 9.7-to-1.
Schiff's forecast is based on his view the U.S. dollar is going to collapse under the weight of our massive deficit and reckless policies of the Obama administration, which he compares to the massive spending programs of the 1960s, which paved the way for gold's ascent in the 1970s. "Obama is making the same mistakes as Bush, but he's doing them on a grander scale," says Schiff, who is running for U.S. Senate in Connecticut as a Republican.
I agreed 1000% but where we disagree is as important as where we do agree. I am 100% against buying gold ETF’s. The only way to buy gold is to physically take possession of your gold. Trust me if the good hits a $5,000 an ounce, these ETF’s will go the way of Bear Stearns. I believe they’re a house of cards.
GOLD COINS STRUCK BY AN ALLY OF BRUTUS, ROMAN GENERAL AND CAESAR’S ASSASSIN
I just purchased a remarkable Roman Gold deal from Europe. I’ve been chasing these gold coins for six months because they have everything a gold investor should be looking for in a gold coin.
First these are gold staters (a stater is the wage paid to soldiers of the Roman Empire) these gold staters are a little smaller than U.S. $5 Gold coin. So they are nice sized gold coins.
These particular staters were struck in the first century BC somewhere in Thrace or the Black Sea region by a king or dynast named Koson. The monogram and types suggest a connection to the Roman general Marcus Junius Brutus the leader of Julius Caesar's assassins.
The historian Appian records that Brutus struck gold coins to pay his soldiers from treasures consigned to him by Polemocratia, widow of a Thracian dynast named Sadalas. The Koson gold coins, normally found in the Balkans region, seem to fit the bill for Appian’s description. The name ΚΟΣΩΝ, while not recorded by any contemporary historian, may be an alternate title for Sadalas, or the name of a sub-king and / or mint master under his control.
The Obverse of these coins -- dazzling!
The connection to Brutus is suggested by the coin’s obverse image: A Roman Consul walking in a procession to left, flanked fore and aft by two lictors, or official bodyguards, carrying the fasces, symbol of Roman authority.
Nearly the same design appeared on a coin issued by Marcus Junius Brutus during his term as mint magistrate, or moneyer, in 54 BC. Some of the gold staters also carry a monogram that appears to be made up of the Latin letters B and R, again suggesting Brutus.
The reverse design depicts a Roman-looking eagle clutching in its talons a wreath, symbolic of victory.
The date of issue is likely 43-42 BC, when Brutus was moving through the Balkans region with his army in preparation for a final showdown with Julius Caesar’s heirs and successors, Octavian and Mark Antony. At the battle of Philippi in October of 42 BC, the Caesarian armies defeated Brutus and he fell on his sword. His officers and soldiers either surrendered or scattered, some of them likely burying for safekeeping the gold coins Brutus had paid them. These hurried attempts to preserve their wealth may account for present-day finds of Koson gold staters. It may also account for the extraordinary condition of these pieces-- the ones in this group are essentially mint state, after more than 2,000 years under ground.
We have 110 of these coins being graded at NGC right now and expect them back in the next two weeks. We know they are grading these coins Almost uncirculated through Mint State -- and they are truly rare. So rare in fact they are worthy of being included in the ancient collection housed at the Louvre Museum in Paris or Smithsonian Collection here in the United States.
Surprisingly these coins are very inexpensive and range in price from $2,750 to $4,250. I know these gorgeous coins are going to sell very quickly. Between the red hot gold market, their beauty, history and amazing quality they’ll be gone very quickly.
A few more things to know, NGC has only been grading Ancient Coins since January. These coins a in many cases 25, 50, 100 even 1000 times rare than comparable U.S. rare coins. They are RARE!
In my opinion NGC is dramatically under grading Ancients in hopes of impressing dealer’s overseas. The fact is most dealers overseas dramatically over grade their coins as was the case with foreign coins and even when they started grading U.S. Coins. I think like foreign and U.S. coins the grading will become more liberal in the next few years and many of the coins we sell today will eventually grade higher by NGC. For now their grading in my opinion 2 points to conservatively.
It’s a tremendous opportunity. I made a nice fortune getting in on Russian Rarities making 500% to 10,000% by getting in early. Now is the time to get in.
To reserve your Brutus Koson Staters call on of my gold Specialists at Finest Known, LLC at 1-866-697- 4653
Please see risk disclosure link below.
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