Phil Mickelson Uses a Silver Dollar as a Golf Ball Marker
Right before Phil Mickelson’s all-important 18th hole putt hit the side of the cup and lipped out Sunday at Pebble Beach, CBS told the moving story of how Phil’s grandfather, Al Santos, caddied Pebble Beach when it opened in 1919. Young Santos dropped out of school in the fourth grade to caddy at age 11. He got up early to caddy 36 holes, earning just 35-cents per bag per 18 holes. It was a great day when he got a silver dime for a tip.
Al Santos kept a “lucky” 1900 silver dollar in his pocket. Although he often went hungry, he never spent that dollar. He said he rubbed the coin whenever he felt poor, gaining the comfort that he had money in his pocket. He died in early 2004, right before grandson Phil won the first of his four majors. Throughout his long career, including 42 PGA victories, the 45-year-old Mickelson has carried his grandfather’s lucky 1900 Morgan Silver dollar as his marker.
Last month, Mickelson said, “it’s a cool feeling to have the money that he cherished and also to see what we are now playing for in prize money, and how far the game of golf has come. It’s a great reminder for me.” Mickelson also said that his grandfather gave him an old Krugerrand that he keeps, along with some silver half-dollars, but “his silver dollar is the one I prefer to mark with,” especially at Pebble Beach.
If you would like to own a circulated or uncirculated Morgan Silver dollar as a golf marker, call our offices. We can’t guarantee you will putt as well as Phil Mickelson but you’ll have a great conversation piece for your fellow golfers. While you’re at it, inquire about owning a variety of American gold and silver coins. Don’t wait, silver and gold have been rising in 2016!
Mark Cuban: “Confused” About Stock Market, Bets on Gold Instead
On February 11, CNBC interviewed Dallas Mavericks owner and legendary investor Mark Cuban, who said he sold stocks and bought gold. When asked why, he said “People are so confused about this market. Nobody really understands what’s happening, including me. Things I thought made sense didn’t make sense and weren’t working. I just asked myself, ‘Where were momentum players going to look next?’ Gold had started to pick up. So I think when traders don’t know what to do, they go where everybody is and I thought there was a good chance that would be gold.”
Wall Street Analysts Now Expect $1400 Gold
As we’ve often said, Wall Street analysts don’t really understand gold. They are trained to study corporate stocks and bonds, and they tend to view commodities supply and demand terms for industrial use. They don’t understand the gold’s “fear trade,” the security that gold provides during crisis times.
When it comes to gold, most mainstream analysts are trend followers. If gold is going down, they predict it will decline further, say to $900, but if it’s rising, they tend to predict a much higher price, say $1,400.
Jeff Gundlach is called the “new bond king” (presumably replacing the old bond king, Bill Gross). He is the founder of the investment firm Doubleline Capital. He now predicts that gold will reach $1,400 “as investors lose faith in central banks…. The evidence that negative rates are harmful and not helpful has piled up to the point that the ‘In Central Banks We Trust’ mantra has finally been laid bare as a hoax.”
Bank of America’s technical strategist Paul Ciana says the latest chart patterns for gold show a strongly bullish outlook for gold. “Gold prices are breaking above triple resistance forming a technical bottom and channel breakout. This projects gold higher to $1,315 and $1,375.” He also adds: “$1,550 is a possibility, though we are not making that our target at this point. We remain long gold on a technical basis.”
Better late than never! If gold corrects, they may change their tune again, but isn’t it more comfortable to buy on the dips and hold on rather than to “chase” a rapidly rising price? In a bull market, as we wrote from 2005 to 2011, gold tends to move “two steps up and one step down,” so it pays to buy on the dips.