UK gold coin sales jump on concerns over Labour’s fiscal plans
While the possibility of a capital gains hike by Labour adds to the coins’ appeal, it’s one of many potential drivers for the Mint’s increased sales.
New charts vividly illustrate the staggering ascent of precious metals during the period of catastrophic hyperinflation which brought Weimar Germany to its knees in the early 1920’s.
Silver prices rose from 12 Deutsche Marks in January 1919, only months following the conclusion of the First World War, to the astronomical sum of 543,750,000,000 Deutsche marks by the end of 1923, while gold rose from 170 Deutsche Marks to 87,000,000,000,000 by the end of the same period.
Silver Doctors believes that the visual illustrations and historic reminders of rampant inflation’s impact upon commodities prices is especially relevant at present, given the looming parallels between the travails of Weimar Germany in the twenties and the impact of repeated rounds of quantitative easing by the Federal Reserve and European Central Bank.
Charts courtesy of BullionMark
2 Comments
jami
The gold nd silver holders must have got mega rich during such a rife opportunity
JD Bartlett
Actually it does not appear so, or so I think. When I was ni high school in the 1960’s a neighbor of mine was in high school in the 1920’s in Germany (His American family was there on/with a U.S. mission/corporation). He said that a full lunch (with coffee and beer, and dessert) was about 25 cents (U.S. silver coin) in 1920, and still 25 cents in 1923. The German mark prices were about 20 marks (?) at first, then going up to millions of marks in 1923 (as far as he could remember). Of course you could buy various (German) goods for U.S. currency far, far cheaper than with German paper money.