Groundhog Day Coin and Other Weird Stuff About Punxsutawney Phil

Groundhog Day Coin and Other Weird Stuff About Punxsutawney Phil from Schiff Gold

Americans can turn pretty much anything into a “holiday.” Even a groundhog.

I guess Groundhog Day isn’t a holiday, strictly speaking. I mean, I don’t get a day off work. And the government doesn’t close. That’s when you know you have a real holiday. Government shuts down and my mailbox isn’t filled with inane fliers and bills. By that measure, Groundhog Day doesn’t qualify as a holiday.

But Americans still make a big deal out of the day. And there is drinking. Everybody knows a real holiday involves getting sloshed. And what better reason is there to drink than fretting over whether a rodent is going to predict 6 more weeks of winter? So, maybe it is a holiday – at least in the vein of St. Patrick’s Day.

As proof of this, I offer as evidence the fact that the American Craft Beer website has a page dedicated to Groundhog Day, complete with a Groundhog Day Beer Events section.

In addition to the day’s many ‘at-home’ beer drinking competitions there are numerous notable drinking events taking place today.”

Sounds like a holiday to me!

So anyway, this year, Punxsutawney Phil saw his shadow. That means more winter weather. I gotta be honest; hate that damn rodent. Actually, I hate winter. I don’t really care about the groundhog one way or another. But he can keep his gloomy winter forecasts to himself.

Hey! Here’s a thought. I live in Kentucky, and I hear groundhog is good eatin’. Maybe we could just fry old Punxsutawney Phil up and be done with this silliness.

Anyway, statisticians will tell you that Phil is wrong more often than not. It’s actually around 39%. In other words, I could do a lot better having a few beers and flipping a coin. But Phil’s supporters and the people in his “inner-circle” – yes, that is a thing – will point out that he’s pretty much always right somewhere. After all, Phil’s predictions aren’t “geographically specific.” For instance, I pretty much guarantee there will be six more weeks of winter in the Canadian Arctic. (Don’t forget I said this. It’s called foreshadowing.)

You should know Phil’s supporters are kinda weird.

Get this; Phil has been around since 1887. And there is only one Phil, so they say. No, really. His people say some magical potion cleverly named “groundhog punch” keeps him young. Every summer at the annual groundhog picnic – yes, that is a thing – Phil takes a little sip of this elixir and boom – he’s good to go for another seven years.

Apparently, this “groundhog punch” as a little nip in it. In fact, during prohibition, Phil famously announced (through his spokespeople) that if he were kept from drinking the hard stuff, there would be 60 weeks of winter. Presumably, like pretty much every other American during prohibition, Phil got his booze. There are no confirmed reports of 60 weeks of winter during the prohibition era.

Now, if you’re going to have a holiday, you need a commemorative coin. Yup. The groundhog has one.  Technically, they call it a “medal.” You can pick one up at Punxsutawney Phil’s Official Souvenir Shop – yes, that is a thing – for the low price of 94 cents.

Oh! And the coin is gold!

Colored.

So, if you saw this post and thought I was going to come through with some great investment advice – sorry.

But I’ll tell you what. Since you read this far, I’ll give you a little heads-up. Next week, SchiffGold is going to run a pretty sweet special on Royal Canadian Mint Wildlife of the Canadian Arctic coins. These coins are 99.99% pure gold. And since Phil is telling us we still have some winter weather to endure, the Canadian Arctic is a timely theme. And like I said- the Canadian Arctic is one place where Phil’s winter prediction will certainly prove true!

Anyway, stay tuned to SchiffGold.com. We’ll be rolling out this limited time offer next week.

Fun on Friday is a weekly SchiffGold feature. We dig up some of the off-the-wall and off-beat stories relating to precious metals and the economy, and share them with you – with tongue firmly planted in cheek. Click here to read other posts in this series.

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Peter Schiff

Mr. Schiff began his investment career as a financial consultant with Shearson Lehman Brothers, after having earned a degree in finance and accounting from U.C. Berkeley in 1987. A financial professional for more than twenty years, he joined Euro Pacific in 1996 and served as its President until December 2010, when he became CEO. An expert on money, economic theory, and international investing, he is a highly sought after speaker at conferences and symposia around the world. He served as an economic advisor to the 2008 Ron Paul presidential campaign and ran unsuccessfully for the U.S. Senate in Connecticut in 2010.