Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at investing in discontinued Colt Python Revolvers. (See the Tangibles Investing section at the end of this column.)
Precious Metals:
Why Is Gold Up When The U.S. Economy Grew 3.2%? Dive Deeper, Say Analysts
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Washington State Politicians Drop Cynical Attempt to Impose Taxes on Gold & Silver
Economy & Finance:
Distressed Nation: Each American Would Owe $700,000 To Eliminate Worsening Debt Situation
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List of 24 Points Pressing Hard Toward Recession
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Avi Gilburt: Higher Rates Are Likely Over The Next Few Months
Real Estate:
At Wolf Street: House Prices in 12 of California’s Most Expensive Coastal Counties Fell in March from a Year Ago.
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London Home Prices Had Biggest Monthly Drop Since Lehman
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Cut the Price and They Will Come: New House Prices Drop to December 2014 Level
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IMF hits Aussie house price crash panic button
Forex & Cryptos:
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Reader H.L. sent us this: Study: North Korea Using Bitcoin to Finance Nuclear Weapons Development
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You Can Now Shop With Bitcoin on Amazon Using Lightning
Tangibles Investing (Colt Python Revolvers):
Colt’s famous .357 Magnum Python revolvers were discontinued at the turn of the century, and their prices have skyrocketed. Back in the late 1990s, I could find slightly-used Pythons at gun shows for around $600. I considered them “pricey.” Now, the starting price is around $2,200, and new-in-box specimens fetch as much as $3,500.
A bit of history, found over at the InfoGalactic Wiki:
“In October 1999, Colt Manufacturing Co. announced that it was ceasing production of Python revolvers. In a 2000 follow-up letter to distributors, the company cited changing market conditions and the costs of defending lawsuits as the reasons for the discontinuation of the Python line, as well as a number of other models. The Colt Custom Gun Shop continued making a limited number of Pythons on special order until 2005, when even this limited production ceased.”
Because of their weather resistance and durability, most survivalists prefer stainless steel guns. Except for the slight disadvantage of a six-round cylinder (since many S&W .357 revolvers now hold 7 rounds or even 8 rounds), a stainless steel Colt Python is just about the ideal revolver for survivalists.
Astute gun investors will watch for discontinued models that are in either new or like-new condition, and still in their original factory boxes. That is how I try to buy Colt Python revolvers. If you prowl the gun shows, you can sometimes find bargains. For example, I recently bought a stainless steel 4″ Python for $2,200. It had rough-looking grips that I replaced with a set of Pachmayr Colt medallion grips. In fact I replaced them before I even left the gun show. Meanwhile, at the other side of the show, there was dealer who was offering a stainless 4″ Python for $3,200. It too was lacking an original box. If the seller had the correct box, then he probably could have demanded $3,400. That gives you a whiff of the rarified air of present-day Colt “Snake Gun” collecting. Amazing, but true.
From a purely practical standpoint, I’d rather take the same money required to buy one stainless Python and instead buy three of the 7-shot S&W Model 686 stainless revolvers.
Watch for estate sales that include guns, and always ask if they have any Colt revolvers for sale!
My prediction: Barring a deflationary economic catastrophe, by 2025, new-in-box Colt Pythons will probably be selling for $5,000. Buy low and sell (or trade) high, folks.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!
Love them Pot Smokers! I use to go to a small sporting good store where they had a new Python that I would drool over in the early 70’s and it was priced at $190 bucks which I couldn’t afford to part with at that time, the owners name was Dick, and when he passed away his son who’s name was Chris took over the business and Chris had a love for the Pot, anyway to make a long story short, where I worked there was a guy named Ron who was also fond of the Pot, and little did I know that Ron and Chris were Pot smoking buddies. Then one day I went in to the Gun Shop and there was Chris and Ron together and as usual I went over and drooled a little more over that Python, seems that where their down fall was Pot, mine was Firearms. Anywho I offered Chris $165 for the Python which he refused, but my friend Ron who I worked with cajoled his smoking buddy a little bit, and it seems that with Ron’s help I made one of the few good deals that I’ve made in life. I walked out of that Gun Shop with a New, Smooth as Silk Python, for 165 bucks. Trekker Out
re:
I owe us$700,000?
Apparently, some bureaucrats I don’t know == and didn’t vote for == took out loans from bankers… then the bankers want me to make payments on those other people’s loans. Huh?
Apparently, somebody not yet conceived is supposed to continue making payments on loans bureaucrats are taking out… long after those bureaucrats are dead and dust. Huh?
Apparently, according to the bankers, debt is inherited. Me and my unborn great-grandkids are supposed to make payments on loans we never signed for… and never benefited from. Huh.
Are you sure this’s the way this’s supposed to work? I get stuck paying for somebody else’s poor judgement? According to the bankers’ theory, merely because I temporarily reside in these united States of America territory, I owe bankers more Federal Reserve Promissory Notes than I earn?
Folks, there’s something flaky going on.
If enough others voted for them it matters not that you didn´t.
It´s called a Democracy, that Thing where People vote for the politicans.
So that those elected can tell the bureaucrats to get loans for their Projects.
And that is why democracies are dangerous, it is Mob rule. We on the other hand have a representative Republic that is designed to protect us from the stupidity of mob rule. Of course in reality the government has sold all of this out, starting with the Federal Reserve System. Lest we forget that we have the power to change that.
The swiss would differ, but as Long as ´citicen vote for goverment and parliament it´s called a Democracy.
What you mean is called Ochlocracy
LargeMarge. You got that right! But there is good news. You do not “temporarily reside in these united States of America”. You reside in these “temporary united States of America”. The demographics will be changing as will the opportunities for liberty.
“Economics & Investing For Preppers” = For many Americans the best investment would be to lose some weight for personal health reasons. … It would also benefit the family, for someone to live a healthier and longer life.
Survivalblog has a number of good articles about ‘low carb’ diets, for weight loss and weight maintenance. [Beans contain carbohydrates, but are apparently NOT the ‘fat bloating’ type of carbs.]
….. Karl Denninger is quoted in the ‘editor’s quote of the day.’ Denninger also has some good advice about a ‘low carb’ diet. Read his column, ~So, You’re Tired of Being A Fat B*st*rd?~ = … “Then stop listening to your government and start listening to facts. = Among them are the fact that the so-called “food pyramid” was never created by scientific inquiry — rather, it was a combination of agribusiness influence and outright government corruption.”
I took their advice and was able to lose ~20 pounds and keep it off. [I’m still ‘tubby’ ~ and, I exercise.] … But, reducing many carbohydrates in my diet, has stopped my cravings for more & more carbohydrates.
…. Read the columns available here in SurvivalBlog; use the search function. Advice is free; willpower comes from within. Americans overall have always had plentiful amounts of food.
Looking at old photographs of Americans indicate something must have changed in the diet, during the last 50 or 60 years. ~ Something other than appetites.
Hey GGHD…you’re dead on! I am an insulin dependent type 2 diabetic. My sugars were out of control 300-500 and my A1C was over 11. Met a new sugar doc who asked me “why aren’t you on a pump?” I said my doc said you won’t qualify. My new doc said “I can get you one in a couple of weeks.” I said GO! I have been on the pump for over 3 years. My sugars now run about 100-125 and my A1C is 6.5. When I started on the pump it was stressed how important carb counting was. When I started I was 228 lbs. became a fanatical carb counter. Always read the carb count on packages and pass on the high carb stuff. Today I am 180. Don’t really miss the stuff I pass on, but do cheat sometimes which satisfies cravings. Guess you could say I have become a carb countaholic and preach the benefits to those who are interested. You are sooo right! Happy to say those who listen and do try it do see the results quickly. Thanks.
ComingStorm … You are an inspiration for everyone; especially the people needing medical help to control health problems. Congratulations on the 50lbs weight loss.
For everyone in need of medically supplied insulin, or other medicine in need of refrigeration, should consider acquiring an ‘RV’ type refrigerator. The RV’s will often use an ‘adsorption system refrigerator’ in the RV. … [An explanation of how ‘propane heat’ powers the refrigerator is on the Internet.]
It’s possible to buy a new refrigerator or buy a good ‘propane refrigerator’ from someone with a wrecked RV. Sometimes people will part-out a wrecked RV with the parts still good. It might cost a few hundred dollars to set up a ‘propane refrigerator’ with a propane tank, ready for emergencies.
JWR – Don’t forget the other Colt snakes, the King Cobra and Anaconda. Maybe not quite as sought after as the Python but they too are commanding high prices.
The train for collecting the Colt Snake guns left the station long ago….. It’s too late now, it’s going to cost an arm and a leg to get into the game, you’ll never get your money back out if the economy takes a hit.