New Precious Acquisition!

This time of year has traditionally been when I purchase some precious metals via coins to add to my collection. I have always done so as a hedge against inflation in addition to having an alternative way to store value in case of emergencies. as my daughter has grown older, she has enjoyed watching me stack the collection every year. She loves seeing the art that is often put behind some of these pieces. In addition, when I told her about two years ago that this collection would be hers one day she often reminds me about adding to it. I remember even buying some silver rounds with the cartoon characters on it. While the premium paid over the spot price were excessive, I thought it was a great opportunity to share something with my daughter like my dad used to share with me when I was younger.

I recall in my early learnings of collecting these coins that the price typically fluctuates given its rarity. This is why I have always been astonished at how markets can often fluctuate quite materially between historical standards. One great example of this is the fact that platinum which was once a highly revered precious metal with much higher valuations than gold. however, since the financial crisis and as the man from the industrial side has decreased it has fallen well below the price of gold. I have thought this to be an opportunity to part to start picking some up as it was one of my smaller holdings due to its scarcity in these collections. Last year, the United States Mint started a new Platinum Coin Program called The Preamble to the Declaration of Independence. The Program will run for three years an issue a newly designed coin every year with symbols surrounding the Declaration of Independence.

The first year, the coin Life was revealed as the first of the collection. The intent was to “personify Lady Liberty teaching a small child to sow seeds in a field.”. This year, the coin is titled Liberty. The design “potrays Lady Liberty keeping watch over prairies, lakes, and mountains as pioneers head westward.” The last year will revolve around the concept of Happiness. “The common reverse design for this series depicts an eagle in flight with an olive branch in its talons.”

The series will be minted in limited quantities and be denominated in the symbolic $100. Their composition will be 99.95% Platinum in 1.0005 troy ounce. While prices continue to be stagnant and all around horrible for the metal, I still enjoy the collection aspect of it and was happy to have one. My daughter was excited to do the unboxing and compared to last year’s as she was reminded that they were “hers!”

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