Gold is expected to reach $3,000 per ounce by the end of 2025. With over 40 countries aligning with China to reduce the global reliance on the US dollar in economic transactions, significant shifts are on the horizon in the realm of currency.
How will these changes, not just within the U.S. but worldwide, impact the cherished hobby we love?
Looking back historically to the late 1960s and early 1970s, during administrations like Nixon’s, we can observe how the devaluation of the dollar can influence prices. For instance, in 1971, the price of gold surged from around $27 per ounce to $67 per ounce within the same year.
Despite the devaluation of the dollar by numerous nations globally, we have witnessed a consistent upward trend in gold prices over recent years. Presently, gold is valued at approximately $2,800 per ounce and continues to rise.
As global dynamics surrounding the modern dollar evolve, it is conceivable that the value of newer dollar bills in the realm of currency collecting will decrease. While precious metal-backed currencies such as silver and gold coins will appreciate. Older bills, particularly large denominations and rare banknotes from past eras and series, will remain highly sought-after collectibles, likely increasing in value over time.
With advancements in currency printing technology, we anticipate a decline in features like star note replacement notes in the coming years. Newer printing methods eliminate the need for such replacements. Consequently, the collectible value of star notes is expected to rise as their circulation diminishes.
The hobby of currency collecting, along with the global and domestic use of the U.S. dollar, is poised for significant transformations.
In light of shifts towards precious metal-backed currencies, changes in domestic and foreign policies, and the ongoing demand for the U.S. dollar, collectors are advised to focus on preserving existing bills and coins in their collections, securing banknotes at risk of depletion like star notes, monitoring trends in volatile currencies such as cryptocurrency, and considering investments in precious metals like silver and gold.
Let us know what you think about the future of numismatics and currency in the comments!
HELPFUL LINKS
• My Book on Amazon: https://www.amazon.com/dp/B0BTWVQY4C
• Star Note Lookup: https://varietyerrors.com/star-note-lookup-and-data/
•Our Site: http://www.varietyerrors.com
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Useful Resources :
Coin Cherrypicker’s Guide : https://amzn.to/3zfzhq8
Official USA Red Book : https://amzn.to/3TO9LBU
Get a Powerful Loupe to inspect your coins with : https://amzn.to/3ngmykj
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Serial numbers, miscuts, variety coins and error currency of all kinds can make their way into your pocket or wallet. These can be worth hundreds of dollars to thousands of dollars!
