Word: precious
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Dates: during 1980-1989
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...seafaring man more than sense the islands' dazzling diversity of terrain or the richness of their flora and fauna. Since Columbus first gazed on what was to be for three centuries the main corridor for settlement of the New World, the islands have accumulated an asset more precious than all the gold that was not there: people, of almost every ethnic origin, melded into distinct and assertively individual societies...
Although the nation does not seem ready to return to the gold standard, the soaring prices of precious metals are encouraging one company to have a go at using silver in lieu of money. Sunshine Mining Co., owner of the country's largest silver mine, the Sunshine in the Coeur d'Alene mining district of Idaho, plans to raise $50 million to expand mining operations by issuing silver-backed bonds. In the 19th century bonds were redeemable in gold, but American companies have not offered securities supported by precious metals since...
...small investors begin to decide that stocks could be a good hedge against inflation, as they were considered to be before the economic ravages of the 1970s, share prices might really soar. Indeed, with prices of precious metals at astronomical heights and real estate becoming a millionaire's game, stocks are looming up as just about the only investment play still within reach of ordinary people. Says Sidney Lurie, market analyst for Josephthal & Co.: "We believe that the broad stock-price trend is upward, that the boom in collectibles is ending, and that the boom in common stock...
...suddenly hit a bumpy, hard-packed mound that sent them flying just as they reached a 90° bend, appropriately dubbed "the airplane corner." The high hopes of the American women crashed at that turn: Betsy Snite and two teammates spilled. Pitou did not fall, but she tottered, squandering precious ticks of the clock and losing the gold medal by 1 sec. to Germany's Heidi Biebl...
...haste to cash in, some dealers are heaving precious pieces into the melting pot. Says John Culme, head of the silver department at Sotheby Belgravia: "People did the same thing during the Great Depression. Really wonderful Victorian centerpieces, tea sets and even 18th century dinner plates were melted down and lost...