For a mature stacker, global uncertainty = cautious calm
I was at one of the local shops not quite 2 weeks back and made a rookie mistake. I was offered a stunning 1943 50 peso at melt. I mean she was easily a 63 and maybe even a 65. The 1943s are a strange piece. An interesting one-year variety with a small mintage. Unlike the rest of the pieces in this series, they don't have a denomination. Where the "50 pesos" should be, there's just the weight given.
I took a pass, and when I went back a few days later, she was gone
Even at melt, she was something like $2700. One guy apparently came in and bought almost everything made of gold this dealer had. I'd estimate that at maybe 20 ounces, total.
He needed it. Inflation spooked him. The cost of oil zooming up above $100 per barrel spooked him. The drop in the stock market spooked him. And I bet the images of two million Ukrainians fleeing for their lives, with nothing but the clothes on their backs, spooked him.
Don't get me wrong. None of that makes me happy. But the reason why I left that 50 peso, and a nice stack of profit on the counter in that coin shop was because unlike this panic buyer, I didn't _need _this piece. Like many of you, I've been stacking for decades. Global inflation, devaluation, uncertainty aren't new concepts to me. So PMs have always been a small but very significant part of my broader wealth portfolio. I'm concerned about what's going on, and I hope it rights itself before it turns horrific. But I'm not freaking out. And I bet you're not, either.
Not quite 50 pesos, this is 39.5
--Severian the Lame