Washington Post,Dec.30, 2007 page F2:" Among the reasons for the strong showing are the weak US$, expanding world wealth and new buyers from countries not previously associated with the art collecting community. Over the last five years,wealthy buyers from China have greatly helped fuel the art market. China has a limitless appetite for Western art and objects. Prices have doubled or tripled in the past year." My comment: American coins are antiques with intrinsic value for personal enrichment. When the supply is low and the demand is high,the value is up,up and up. Metals are considered as good investments in USA and I would catagorically state that American hard coins with historical value would yield great price for auction or private collectors in China. Paper currency is merely paper but gold,silver and copper would be more valuable for certainty as known to economists all over the world.
Economists have been trying to determine whether Americans, with homes less valuable, are less inclined to hit the mall. The truth is that consumers hehaved holiday season as exception and the corporate sector would also decide where the economy is heading in the weeks to come. If businesses are investing less due to the credit markets,what would be the outcome? If the labor market is softening due to the overall economic happening,then unemployment rate would be increasing to reflect a serious malaise of the economy in 2008. Let us wait and see the empirical evidence. Francis Shieh a.k.a. Xie Shihao. December 30, 2007
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