Gold Correction, Fed Speculation, and Coin Collecting Insights

Saturday, February 7, 2026

In this engaging edition of Hard Money Matters on AM 930 The Answer, hosts Kyle Warren and professional numismatist John Mabin dive deep into the dynamic world of precious metals and coin collecting. They analyze a recent sharp but healthy correction in gold prices following an explosive run-up, viewing it as a necessary reset amid speculation rather than a reversal, with strong underlying demand from tech, solar, AI, and especially the emerging dominance of nuclear power as a future energy powerhouse—far surpassing current alternatives like lithium or EVs in long-term potential. Dismissing direct links between President Trump's nomination of Kevin Warsh as Fed Chair and the metals dip, they emphasize patience, avoiding knee-jerk reactions, and measured portfolio exposure (echoing Ray Dalio's 5-15% guideline). The conversation highlights sustained industrial demand for gold and silver, while shifting to numismatics with the blockbuster sale of an 1804 silver dollar for millions—celebrated as America's "King of Coins" due to its extreme rarity (only 15 known) and intriguing backstory of being minted later than dated. They explore rewarding aspects of collecting at any budget level, from curated typesets and historically romantic pieces potentially handled by figures like George Washington, to quirky niches like "poor" graded coins prized for their condition extremes. John shares skepticism on mutilated "waffle" coins as a serious pursuit, calling them curiosities rather than legitimate collectibles. Throughout, the episode blends market insights, historical allure, and practical advice, underscoring the enduring fascination of coins tied to American history and the thrill of discovery in precious metals—always with the reminder that these are opinions, not investment advice, and that buying/selling carries risks.

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