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.)
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Economy & Finance:
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Avi Gilburt: Higher Rates Are Likely Over The Next Few Months
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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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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.
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
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