The Value of Gold

It is day two of the Whitman Coins & Collectibles Expo. I hope that yesterday was good for you and that today will be even better.

We are all very fortunate that the field of numismatics—coins, tokens, medals, and paper money—has largely escaped the current economic slump. Of course, if someone is out of work, or their house or office building is in foreclosure, they will not be buying any rare coins. Good luck to all in distress, and may we soon echo the melody, Happy Days are Here Again.

Meanwhile, with banks paying almost nothing on deposits, with Congress writing hundreds of billions of dollars in checks on an empty bank account, and with an uncertain future for the stock market, those who enjoy coins are buying with great enthusiasm. In addition to rare things, many newcomers as well as old-timers have re-emphasized their feeling that owning gold provides a measure of comfort. Of course, not just any gold, but, hopefully, bullion and coins purchased from professional numismatists such as yourself.

The Whitman Expo is situated ideally—and if you have time, check out some of the nice restaurants around town. Kali’s Court, Ruth’s Chris, Morton’s, and other places are collector and dealer favorites—plus a wide choice of Italian, Japanese, and other specialty places—go there and you’ll see a lot of people you know. A bit more off the track is the Prime Rib, a taxi ride to the North, but a favorite of mine, and where 30 years ago I ate there almost every night, while immersed in the Garrett Collection at The Johns Hopkins University. It has been a favorite place to go with the Eliasberg family, too. The food is just as good today as it was in the time when I was involved in cataloguing and presenting at auction the Garrett and Eliasberg collections.