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 JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on Colt New Service revolvers. (See the Tangibles Investing section.)
Silver was flat this week, but gold took a jump, following the bad news on Wall Street.
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The Gold and Palladium ratio now shows the two metals trading at parity! This is probably a great time to buy physical palladium, if you want to diversify your precious metals portfolio.
This past week’s stock market slump is making headlines. As of Thursday morning (when I’m wring this), the Dow Jones Industrial Average (DJIA) is down another 648 points to 24,375. That was a 2.64% drop. And combined with Wednesdays’ losses, we’ve seen a 1,500 point drop. Ouch. And that wasn’t the first big fall. Back in October, market declines had already wiped out all of the gains for 2018.
I now fully expect this to turn into a secular bear market–especially if interest rates continue to rise and the tariff war continues. As I’ve written before: The Powers That Be would rather see a market crash than see Donald Trump re-elected.
Economy & Finance:
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I noticed that the futures market for wheat was down to $5.07 on Thursday. That was a 1.46% drop. Remember: Grain prices are in part tied to the overall economy. But it is usually weather that drives their prices. Thus, the price swings can be huge. As peppers, we should buy physical grains when prices are low! (Like now.)
Forex & Cryptos:
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Tangibles Investing (Colt New Service Revolvers):
About 356,000 were made. Most of those were the M1917 .45 ACP variant, which was designed to use Half Moon clips. (Since .45 ACP is rimless, it was the only way to eject fired cartridges.) Production of the New Service began in late 1898 and continued until 1946.
Only the first 250 New Service revolvers were made before January 1, 1899, making them legally “antique” under Federal law. By happenstance, I’ve had two Federally Antique examples in my possession. One of them (serial #49) I sold a few years ago, and the other (with a serial # below 220) I plan to keep and pass down to one of my grandsons.
As with any other collectible gun, condition is very important to assigning value. Look for minty examples with most of their original bluing intact, perfect mechanical condition, and grips that are in nice condition. Back when I was in college in the 1980s, you could fine a New Service for $200 to $350. Nowadays they start at $800, for one in rough condition. Prices can range up to $3,500. Finding one that is 1898 production (serial number under 250) just about triples its value.
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
Please send your economics and investing news tips to JWR. (Either via e-mail of 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!