A rare dime just sold for a whopping $506,250 in an online auction... This coin isn't your average pocket change. You see, the 1975 dime came from the San Francisco Mint. But it's missing the "S" mint mark.
This Is What Real Investing Confidence Looks Like
By Pete Carmasino, chief market strategist, Chaikin Analytics
A rare dime just sold for a whopping $506,250 in an online auction...
This coin isn't your average pocket change.
You see, the 1975 dime came from the San Francisco Mint. But it's missing the "S" mint mark.
That tiny detail makes it incredibly valuable. Experts believe only two coins like it exist.
Collectors have known about the dime for years. But its location remained a mystery until now.
Three sisters from Ohio inherited the dime. The auction house agreed to keep their identities anonymous. But we know their brother held the coin for roughly 45 years before he passed away.
The family was involved in dairy farming. And the man and his mom bought the dime for $18,200 in 1978. (That's about $88,000 in today's money.)
According to the sisters, the family saw it as a financial safety net. The family had massive confidence in the coin's value...
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California-based online auction house GreatCollections managed the sale. It lasted for two months before ending on October 27. And it garnered a ton of interest. A total of 212 bids came in.
GreatCollections said the brother and mom bought the coin from Chicago dealer F.J. Vollmer & Co. And as I said, they paid thousands of dollars.
They put a lot of trust in its value.
We don't know exactly how substantial the purchase was to the family at the time. But the coin was important enough for the man and his mom to keep it hidden away all those years.
It harkens back to a simpler time. Everything was in black and white right in front of you.
You knew what you knew. And if you knew it was authentic, that was good enough.
Things aren't so simple these days...
In our ever-increasing online world, everything seems like a gray area.
What would it take for you to have "$500,000 coin" confidence in an investment? And are you feeling that kind of confidence today?
Unfortunately, many folks feel like they're on shaky ground.
At the grocery store and the gas pump, most Americans are getting crushed. Yes, inflation has stopped going up as much as prior years. But prices still haven't fallen.
Meanwhile, U.S. gross domestic product is growing at a long-term trend of 2.8%. Spending from the consumer side is strong – coming in at almost 4%.
The unemployment rate is still low at 4.1%. Consumer confidence is up off its extreme 2020 low. But it's still well below its long-term average.
Despite that, the market is soaring...
The S&P 500 Index is up about 26% so far this year. And as I explained yesterday, the tech-heavy Nasdaq 100 Index is finally making new highs again.
So, stocks are on an incredible run. This kind of market has the potential to create generational wealth.
And yet, most investors aren't feeling all that confident. And they're nowhere near "$500,000 coin" confidence.
Instead, they're sitting on the sidelines while the market passes them by.
Don't fall into that trap.
Here at Chaikin Analytics, we have tools like the Power Gauge to help us make high-confidence decisions. For example, as I said yesterday, big moves could be ahead for the Nasdaq 100. Based on the Invesco QQQ Trust (QQQ) that tracks the index, the Power Gauge is "bullish" on the Nasdaq 100 right now.
And even without the Power Gauge... just about anyone should be able to see that stocks are soaring.
Don't get stuck on the sidelines. Find your "$500,000 coin" confidence.
Good investing,
Pete Carmasino
Market View
Major Indexes and Notable Sectors
# Hld: Bullish Neutral Bearish
Dow 30
+0.66%
9
16
5
S&P 500
+0.09%
156
271
68
Nasdaq
-0.06%
34
55
11
Small Caps
+1.5%
664
980
272
Bonds
-0.49%
Consumer Discretionary
+2.02%
16
27
7
— According to the Chaikin Power Bar, Small Cap stocks and Large Cap stocks have become Bullish. Major indexes are mixed.
* * * *
Sector Tracker
Sector movement over the last 5 days
Discretionary
+10.06%
Financial
+7.8%
Industrials
+6.97%
Information Technology
+5.43%
Energy
+5.29%
Communication
+5.03%
Utilities
+2.85%
Health Care
+1.72%
Real Estate
+0.74%
Materials
+0.56%
Staples
+0.21%
* * * *
Industry Focus
Insurance Services
33
15
3
Over the past 6 months, the Insurance subsector (KIE) has underperformed the S&P 500 by -0.25%. However, its Power Bar ratio, which measures future potential, is Very Strong, with more Bullish than Bearish stocks. It is currently ranked #8 of 21 subsectors and has moved down 1 slot over the past week.
Top Stocks
UNM
Unum Group
AXS
AXIS Capital Holding
TRV
The Travelers Compan
* * * *
Top Movers
Gainers
BMY
+10.49%
ALB
+9.57%
TSLA
+9.08%
CI
+7.28%
EQT
+6.7%
Losers
MPWR
-14.97%
ABBV
-12.57%
MRNA
-8.71%
CE
-7.3%
NEM
-6.02%
* * * *
Earnings Report
Reporting Today
Rating
Before Open
After Close
HD, MOS, TSN
SWKS
OXY
No earnings reporting today.
Earnings Surprises
LYV Live Nation Entertainment, Inc.
Q3
$2.23
Beat by $0.58
AVD American Vanguard Corporation
Q3
$-0.42
Missed by $-0.59
JRVR James River Group Holdings, Ltd.
Q2
$-0.74
Missed by $-1.24
* * * *
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