Northwest Arkansas Times from Fayetteville, Arkansas on August 18, 1974 · Page 13
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Northwest Arkansas Times from Fayetteville, Arkansas · Page 13

Fayetteville, Arkansas
Issue Date:
Sunday, August 18, 1974
Page 13
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Page 13 article text (OCR)

2B Northwest Arkansas TIMES, Sun., Aug. 18, 1974 FAYETTEVILUE, ARKANSAS ' Ford Makes Ownership Legal Cold Fever Spreads Rapidly r »~~v* Fayetteville Business College By LOUISE COOK Associated Press Writer The elderly, white-haired man walked up to the counter and pulled a crumpled tissue out-of his.pocket^ Unwrapping the paper, he revealed a shiny coin. Is this, worlh anything^ My f a t h e r gave it to me when I was a "·The coin was a 520 gold piece j of a particularly unusual kind,; To Les Fox, director of the numismatic division at Perera Fifth Avenue, it was worth $3,000 -- more tlian 100 times the face value of the coin. Several hours later, after Fox bought tha coin, it was \vorth even more. Perera sold It to a collector for $3,500. The incident reflects the growing interest of inflation- weary Americans in anythtog made out of gold. The prospect that it soon may be legal for Americans to own the cure metal has spurred the demand. Porera, which is known for selling foreign currency to tourists, recently opened a special office for its numismatic division to handle increased business. Another coin dealer, who p r e f e r r e d t o r e m a i n anonymous, said he has about 50 per cent more customers this year than last. · "And they're much more knowledgeable than ever oe fore," the dealer s a i d . "They come in with magnifying glasses and microscopes. They know to the penny just what a coin will bring -- even if they pretend they don't." "Lionel Simmons, the head ol the Simmons Refining Co, ol Chicago, presides over an operation that will produce an estimated $24 million worth of gold this year. He extracts the metal from scrap and prepares il [Assistant Named .BOSTON CAP) -- Emerson Dickie, an outstanding end at Boston College until his gram- ation in 1956, has been namec offensive line coach for the Northeastern University foot . bait team. -Dickie, a resident of Water town, is a former assistan coach at Boston College and Harvard. He coached Cathedra High School in Boston in 1972 and St. Patrick's High School in Watertown last year. Soccer Semifinals -NEWTON, Mass. (AP) -- Th ijoston Minutemen have movec Into the · semifinal playoffs in (he North American Soccer league. ;The team, in its first year, gained the berth by edging the Baltimore Comets 1-0 Thursday njght at Boston College's Alutrmi Stadium. ^^^ sale to industry. .passed SHEER BEAUTY' 'It isn't that gold represents nature." oney. It represents pure, eer beauty. It's the most fas- naling cojor, .the most beau- 111 metal, and after 30 years this business, it still excites e," says Simmons. It gold ownership by private izens becomes 1 a g a 1, Simons says his firm may mart one-ounce bars. To try to st the market, he recently of- red 100-ounce silver bars and says he's sold 400 of them r about $500 each. 'We've had some farmers, hool teachers and other per- ns come in here and buy the rs," he says. "Some say ey're going to bury them out their back yard:. I guess It's latever makes people feel sere." Coin expert Fox points out at publicity about rising 'gold ices has convinced many eople -- wrongly -- that they luldn't lose money by in- esling in the metal. At the ame time, rising inflation and ock market declines have reed people to look for new vestments. "There are an estimated 10 illlion people collecting coins the country today," Fox ays. In 1936, when the govern- cnt first started issuing mint ets of U.S. coins, it turned out ess than 10,000 sets. Now the overnment issues more than hree million mint sets a year. Most of the people who invest ith Perera, one of the nation's irgest coin dealers, spend be- ween $200. and $3,000, F o x ays, "although there -have een cases when someone alked in here with an enve- pe and just laid out $50,000." RISKY BUYING Buying gold coins strictly for leir metal value is risky, Fox ays, advising instead that eople split their investment etween coins purchased for leir gold value only and those lat have a historical value be- ause of rarity. Since 1933, it has been illegal or Americans to trade In gold, xcept for industrial use, for olns or for jewelry. Legislation cpealing the ban has been by Congress and President Ford's sig- The director of the National Committee to Legalize Gold, says that legalization will bring another surge of interest. "I calculate that if one out of 10 Americans buys one ounce of gold, that would take up one ial( of the yearly worldwide production of gold," said the 30- year-old Blanchard. Commercial gold traders such as Handy and Harman. in New York, dealers like foreign Perera currency and tho commodity exchanges are pro paring for the retail gold market. Call Perera outside of working hours and you're greeted by a recorded announcement: "You've called our 'gold line, a 24-hour, seven-day service .. Gold closed in London Friday July 19 at $145.50 an owice, up $1.50 from the day before and up a few dollars from a week ago. The most popular gold coins were sold at the following prices .. Thank you for calling and keep calling the gold line." Several U.S. commodity exchanges have drawn up contracts for Winnipeg gold futures. Commodities The Ex- cliangp has offered 'gold futures contracts which Americans were not allowed to buy or sell ·r- since 1972. The International Monetary Market of the Chicago Mercantile Exchange already has started advertising. "Soon Americans will be able to tradi gold futures," the ad says ant goes on to offer a 32-page .book let on the ins and outs of thr market. 1 fhe futures market isn't fo the, small Investor, however Mark J-. Powers, senior vie president o! the Internationa Monetary Market,' Said, official of the exchange were thinkinL of offering 100-ounce contract -- which works out at almos $15.000 for one contract at cur rent gold prices. Backfield Coach ROCHESTER, N.Y. (AP) -- oe Hunter, a 1972 University r Rochester graduate, has een named to Hie Yellowja- ckols' football st a f t as defen- ;ive backfield coach. Hunter, coached who was to hav» the Junior varsity squad, moved up to the varsity team when Lou Spottl eft for the h'cwl couching Job at Rochester Institute o Technology, school officials said. Proudly Announces the Affiliation of Ora Lee Boss Broker, Gallery of Homei Proven, Succenful, Sales Method REAL ESTATE CLASSES Begin Tuesday, August 20th Fayetteville Business College 221 South Locust, Fayetteville -- Phone 442-2241 'Licensed by Arkansas Department of Education 5 3 /A% 63/4% We h»Te a tarings program and interest rate to meet your needs. Fayetteville Savings Loan Association £01 N. East Avenue JCPenney Absolutely classic. Junior blazer and skirt set. Shop 9-9 Mon., Thurs., Fri. Tues., Wed., Sar., 9:5:30 FILLER PAPER 300-Ct. Notebooke Paper 10 l-2"x8" Sheets, Wide Marginal Ruled E'RE READY TO Fill ABOUT 101 BACK-TO-SCHOOL NEEDS! Si-Fold, Pad and Pocket Cover The Organizer Tri-Fold, Pad and Pocket Binder Students will *ooa be returning to classrooms ranging from kindergarten to university. That mean* there's loU more to "back to school" than buying pencils. We do have pencils, filler paper, notebooks and many things like that. Bat we also have money-saving buys in hosiery, panty hose, .socks, cosmetics, hair care : items, toothpaste, shaving supplies, first-aid supplies, and the like. For students planning on apartment living at college, we have dozens of houseware items at low discount prices. And, of course, we also have lots of fine foods to stock cup* boards for easy, delicious, economical meals. Just remember, Safeway is the 'ace to buy and save! THEME BOOKS 49 5 Hole Punched 8"xlO'/a" Paper (80 Sheets) Our Country BINDER PLUS M. Assorted Co/or? FRIENDS OF THE EARTH THEME BOOKS 8 l-2"xl" 5 Hole Punched The Classifier , STENO BOOKS 69* .A Pod For Note* end Pockets to Keep Them In. . «"x9" Books 50 Sheets Big VALUE! MANY, MANY USES! Charcoal Versatile ensemble in very carefree olyester knit _hort sleeve blazer over a white pleated skirt Flowerprinted acetate scarf. Wine, reenorbrownln junior sizes7to15. Ozark Quality, Even- Burning Hardwood Charcoal Briquets! 20-Pound Bag ·· -· THESE LOW PRICES EVERY DAY Orange Juiced Meat Pies Mooor CvlfromUSDA Hous* Frozen- Strawberries SSL Economy Pack Mixed Fryer Parts D*JI« Mrt. Wr 19hf Multi-Grail KOI IS Brown Serve RolL--, Apple Turnovers w 9 t Apple Streudelw.'nh,, French Bread SasV Sourdough Bread^ Skylark Buns ^^ White Bread W- ll-Or-COt Pkg. 5V e 11-Ox.EQe Loo) orV_ 37* 24-oz. Crisco Oil 59c With $5.00 or More Purchate Excluding Tobacco THESE LOW PRICES EVERY DAY Highway Ketchup^, Toilet Tissue PaperToweis Determent , Truly. fine-. Ice Milk Lucerne Frozen Dessert High in Enjoyment low In Calories! While WHY PAY MOM? Gentle Bleach Whb ° Magic. Cold brook ·« » Coldbroolt margarine ^M pack Safeway Coffee G' »round..*. VIENNA SAUSAGE ,,, Annour Conned «*"wZ. On r K«ry(oy Price! TirT ,..,.. t ,, JT ,,,, l T| RS Mellow-Sweet ... FRESH 7-8 Lb. Fully Cooked Shank Port ions. Water . Added Regular Grind Any Size Package. SMOKED HAMS GroundBeef Quarter Loin^*^ Chuck Roast cBlolleCu " u.78c .u,*1.08 ib. 68' I Choice B«f. Sliced Bacon 2-Lh. $3.15 9mok-A-Homa Prka EffecHre Thru August 27 of Your (Town Name) Sofewoy, YOU CAN BANK ON SAVING AT SAFEWAY Liquid Plumr Bo Peep Ammonia Coffee Rich TASTERS CHOICE COFFEE Freeze Dried Coffee, or Decaffeinated r*(i~~ $1.65 S32 e ....-,£39' 4-Oz. ~~Jar M.63 Cantaloupe SSS" 0 TM $4 ,, m .(RggredCakesS4.5^) tl^^» I jf For a Pleasure-Filled Breakfast! 2.79' LARGE EGGS Breakf a»t Gem$ Ovr Law Pfic«4. Qtuntttr Right* Ke*erved Tomatoes T^AFEWAY

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