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BACK TO THE HOBBY OF "COIN COLLECTING"

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W.K.F.

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There sure are some beautiful coins to be had for those that have the $.

Greetings Collectors,

Forgive me for my last post (I have followed suit of the C.S. member in question, and deleted my post as well) but what was said was way too much to keep my mouth shut about. But now, I'm over it for the most part and just want to say "Gary" don't change a thing. Keep the excellent posts coming. You didn't make "Journal Author" for 2009 for nothing.

I have stopped my buying for the most part due to the continued deterioration of the economy. Having said that, now would be the time to continue to pour as much money as possible into a rainy day account. This to be used to pour into gold & silver when the correction occurs in November. The risk of a "double dip" recession is "very real, I will predict that metals prices will make a strong correction after the Nov. 2nd mid-term elections, only to "take off" after that. At this point in time, people will maybe begin to see a little daylight at the end of the tunnel and it won't turn out to be a mugger with a baseball bat & a flashlight.

I think gold and silver could see a correction of 10-15% lower prices in the days following the elections, but will be short lived (1-3 weeks) as the problems we face are huge and with the damage done thus far, it will take more time to fix than the 18-24 months it took to get where we are today. These set-aside funds will really come in handy when this very short lived drop in the metals happens. You will probably be seeing the last time for an opportunity to purchase gold under $1200 and silver under $20.

The only two coins I have purchased in quite some time is the 1955 Franklin you see here along with a 1923-S Lincoln cent for that "early 20's" mint set I am working on. The Franklin half is way better than the photo captures and is one of just a few dozen graded this high at all the major services with less than a half dozen graded higher "anywhere". Truly a very scarce coin I feel very lucky to have.

Rick Tomaska, whom I believe to be one of the foremost authorities on the series, if not the best, says this date, that has the lowest mintage for the entire series, usually comes "toned". He goes on to say that toned coins "outnumber" brilliant examples by a 50 to 1 margin. This makes my 6th example I own in "MS-65 FBL and higher" with 3 being "brite white" and grading 65-FBL and 3 being toned examples, with 2 MS-65 FBL and this single coin at 66-FBL. With a total mintage of a mere 2,498,181 and the vast majority of those having been melted, the pops are very, very low. NGC has graded only 32 coins this high, with two grading higher by a single point at 67-FBL. This date along with "ALL" other dates in the Franklin series has NEVER seen a coin grade MS-68 with "full bell lines". As I have said many times, (like a broken record) I don't know a 20th century coin series that has fewer high grade examples. The primary reason for the severe "scarcity" was the modern technology that was starting to be used at the time. Starting in the 1950's, "Coin Counting Machines" were deployed to save and speed up the time it took between minting & shipping the coins out to the banks. That coupled with the mint workers using "snow shovels" to scoop coins from mini-bins/hoppers into the counting/bagging machines actually doomed the vast majority of "high grade" examples of this last large 90% silver coin. I just cringe thinking about the damage done and all that could have been avoided had the methods not been so crude.

I hope that those of you who are seeking certain coins, are able to find them, and at a price that is reasonable. And to those of you that have had to cut back on "new purchases", or worse yet, stopped buying altogether, are soon able to get back into the hobby I know you love. The hard times we are experiencing now can and will be corrected. It's just going to take a little while. If you are not registered to vote, please do so. It's time for the people to "Take America Back".

Happy Collecting!

WKF

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