The British pound...

coinkat

traded over $1.95 today. Is it the beginning of the end or the end of the beginning? How high is too high?

worldcoinguy

<< <i>traded over $1.95 today. Is it the beginning of the end or the end of the beginning? >>



Do you mean for the US? We do seem to be digging ourselves into quite a deep fiscal hole...

CIVITAS

I've read the US$ is teetering on the brink of a major selloff. Analyst thinks if the index goes below 80, all bets are off. Just one guy's opinion though. Considering I've got bids in at a British auction right now, I'm loathe to be the high bidder as I was using $1.90 as my basis. A nickel doesn't sound like much until you multiply it times thousands and then add on an exchange fee (and of course who's to say it's going to stop at $1.95?).

7Jaguars

And the scariest part is the pound sterling is crazy overvalued itself! Try buying anything in England (let's not go there with London itself).I think the dollar is bound for trouble as well.

coinkat

Just a couple of thoughts that may be alittle OT, BUT I PROMISE TO GET BACK ON COURSE BEFORE THIS ENDS.

If the pound is overvalued, should the UK join the ECU at a favorable time? It could make sense to revisit the issue...

As for the US Dollar, a hike in interest rates maybe required to provide support. Allowing the Dollar to get wacked is really not the most responsible way of dealing with the trade deficit... okay... I'm done.

Back to coins... I am curious if there will be an effort on the part of major world dealers overseas to use the strength of the Euro, Pound, etc... to buy rarities in the US... It seems to make sense if the bull market in world coins has legs... any thoughts?

Doogy

<< <i>And the scariest part is the pound sterling is crazy overvalued itself! Try buying anything in England (let's not go there with London itself).I think the dollar is bound for trouble as well. >>



its pretty expensive to live in London, I take it?

newsman

<< <i>

<< <i>And the scariest part is the pound sterling is crazy overvalued itself! Try buying anything in England (let's not go there with London itself).I think the dollar is bound for trouble as well. >>



its pretty expensive to live in London, I take it? >>



Amazingly expensive. The worst I've seen anywhere in the world.

MrEureka

its pretty expensive to live in London, I take it?

A cup of Starbucks coffee will cost you almost twice as much in London as in New York.

As for coins, a weak dollar will ultimately lead to a decline in the dollar value of most world coins. I know that sounds twisted, but the loss of the American buyers will reverse the direction of most world coin markets, and that will send local collectors scurrying for cover.

MacCrimmon

<< <i>its pretty expensive to live in London, I take it?

A cup of Starbucks coffee will cost you almost twice as much in London as in New York.

As for coins, a weak dollar will ultimately lead to a decline in the dollar value of most world coins. I know that sounds twisted, but the loss of the American buyers will reverse the direction of most world coin markets, and that will send local collectors scurrying for cover. >>




The USD has been selling off forever already....


Andy, you forgot the single scoop, I should say a very small single scoop of Haagen Das just a stones throw from the Tower will run you 3 pounds.

7Jaguars

So so hotels at 200 pounds, transportation off the hook. I forget the rail prices at the moment but remember a small fortune going to Cambridge last year. I recall one dealer telling me that it cost 360 pounds roundtrip to go from Manchester to London.

Gazza

I don't think much has changed here in the UK. The old axiom still stands, If it cost a $1 in the States it cost £1 in the UK.

MacCrimmon

<< <i>I don't think much has changed here in the UK. The old axiom still stands, If it cost a $1 in the States it cost £1 in the UK. >>



Ah yes, the old price adjusted rates. Well, the York Hilton was only £130 a few years ago. About the going rate in Chicago or San Francisco, etc., except they don't have an olde walled city, or ostrich burgers in the market, and Vikings marching about. And nothing comes close to the Minster.....worth a few extra quid, I'd say.

cladking

The dollar is approaching the lows of the early '90's.

I'm expecting new lows in the near future but no major selloff. A trading range in the high to mid 80's seems likely for the next few years before easing a little further.