Here are the latest 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 Antiquarian Books. (See the Tangibles Investing section.)
Precious Metals:
Moor Analytics: Gold Downside May Finally be Exhausted
Commodities:
Why Are The British Paying So Much For Energy?
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Next, some commentary from OilPrice.com: BP Boosts The Bullish Case For Oil. In a clear sign that BP has adjusted to oil’s new normal, the company is buying back shares to cover its dividend payout amid the price crash .
Cryptocurrency:
Over at Zero Hedge: Bitcoin Is the ‘Very Definition’ of a Bubble, Credit Suisse CEO Says
Economy and Finance:
Exit Yellen (but not Screamin’): Who Is Jerome Powell: Trump’s Pick for Fed Chairman
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Zimbabwe’s Inflation Monitor: A Weekly Update. (Thanks to D.B. for the link.) JWR’s Comment: I‘ve said it before but it bears repeating: Comrade Mugabe and his band of thieving ZANU-PF henchmen must go! They have systematically looted the country via outright theft, extortion, coercion, corruption, physical terror, currency restrictions, over-regulation, taxation, and mass inflation. Of these, it has only been the bouts of inflation (and hyperinflation) that were well-publicized in western nations. Mugabe’s government is the very definition of a failed dictatorship. Rhodesian Prime Minister Ian Smith was essentially correct when he warned that if ZANU took power, the nation would be getting: “One Man, One Vote, Once.” There hasn’t been a free and fair election since the ZANU-PF first took over the government.
Troubling Trends:
$250 Million Each Day for 16 Years: The Staggering Cost of ‘War on Terror’ (A tip of the hat to H.L. for the link.)
Tangibles Investing (Antiquarian Books):
One lucrative subset of book collecting investors is antiquarian books. To begin, I should mention that there seems to be two types of antiquarian book buyers: Those who legitimately treasure individual titles and those who just want vast shelves of fancy-looking book spines, to show off their wealth. For the latter, there are home decorating services that buy up old books in bulk and literally sell them by the linear foot. The resale value of these simply “showy” books in negligible.
In contrast, there are those who invest in truly rare and collectible antiquarian books. Typically, they devote themselves to a particular subject matter, such as geography or botany. My favorite is 19th Century biographies. My late wife had a weakness for bound editions of 19th Century ladies’ magazines. (Namely, Godey’s Lady’s Book and Peterson’s Magazine.)
The High End
Advanced collectors tend to delve into truly rare titles with ornate bindings. Some of these sell at auction for tens or even hundreds of thousands of dollars. making money at investing in antiquarian books takes specialized knowledge. As with many other collectibles, it is research that makes a huge difference in determining price and resale value. With pre-1800 books, pristine condition is not as important as rarity. But for anything published later, it is both rarity and and condition that are crucial. With 20th Century books, just the absence of a dust jacket can make a huge difference in value. And of course an autograph, or the name of a famous earlier owner of a book can add a substantial premium.
As with all tangibles, do your homework before you buy!
Here is a good primer to get you started: Book Collecting as an Investment.
And this is a particularly captivating video: Guide to Collecting Rare Books: An Introduction to Antique Books
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In the U.K.: E-books sales to drop as bookshelf resurgence sparks ‘shelfie’ craze
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. So 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 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!
Just a thought: As cash collapses and becomes digital, as inflation proceeds, people with collectibles of any kind will shift to demanding payment in gold/silver for their assets. (Any asset is only worth what people are willing and able to pay for it.) That should tell you something!