Word: bullion
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Dates: during 1980-1989
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Dealers will sell the U.S. coins at prices based on the going rate for gold bullion, plus sales tax and a commission expected to range from 4% to 8%. Late last week shoppers in New York City could pick up a shiny new 1-oz. medallion bearing the likeness of Louis Armstrong...
...week a team of civilian divers was laboriously bringing to the surface 23-lb. gold bars taken from the cruiser's ammunition room. It quickly became one of the most lucrative deep-sea salvage missions ever undertaken. By week's end, more than $50 million worth of bullion had been recovered. At current prices, the full trove of the Edinburgh will be worth about $85 million. Said Britain's Keith Jessop, 48, who organized the expedition: "That's one in the eye for all those people who've been calling me a blind fool...
...weakening West German currency. In Zurich, the Swiss franc dropped into a two-year trough of 1.95 to the dollar, and in Milan the Italian lira plunged to a record low of 1,019 against the dollar. At the same time, the declining value of gold pushed bullion to $500.50 an ounce at week's end, or a little more than half the all time peak of $850 an ounce reached one year...
...horned helmet -a Wagnerian embellishment on the plain iron cap he actually wore in battle. He plows his acres; he makes crude wooden boxes with crude iron tools. His wife has a comb and looks like Bjorn Borg in drag. Living in a permanent crisis economy, he believes in bullion as a hedge against disaster. He cannot keep his gold in a sock (archaeology has not so far produced a Viking sock, though the Met has some withered shoes in a glass case), but he melts plundered silver down into ingots. Sometimes he buries them, wanders off across the Skagerrak...
...Coming Bad Years, Howard J. Ruff suggested that squirreling away,dehydrated food and storing gallons of water represented about the best investment people could make. Casey, a gold bug, advises selling everything at hand and putting up to half the proceeds into "a well-hidden hoard." He likes bullion the best, but he also favors some gold mine stocks and South African Krugerrands. He confidently predicts that gold will eventually hit at least $1,600 per oz., but fails to say when. That kind of open-ended prognostication is all but worthless...