Daily Rare Coin Update
June 10, 2009 – Investor demand for certified rare coins has been increasing quite significantly since the beginning of the year, and coins like the $20 Lady Liberty have become a popular choice for American investors because of their solid track record of long-term profit and preservation potential. The $20 Lady Liberty coins are commonly considered the second most popular investment-grade certified rare coins, second only to their successor, the $20 Saint Gaudens, which replaced the Liberty coins in 1907 when President Theodore Roosevelt decided that he wanted to beautify American coinage. Unfortunately, the $20 Lady Liberty was considered an “unattractive” coin because of its very plain design, thus President Theodore Roosevelt contracted Augustus Saint Gaudens to create a more beautiful $20 coin, hence the $20 Saint Gaudens was born. Nowadays, many investors purchase the $20 Lady Liberty because it is a rarity that survived the 1933 gold confiscation, thus deeming them “non-confiscatable” according to the United States Government.
By around 2:40 PM Eastern Standard Time, the majority of investment-grade rare coins are continuing to hold on strong to their value as precious metal spot prices take minor steps in the downward direction, and currently gold is trading at around $952.50 per ounce, down $2.10 for the day while silver is trading at around $15.15 per ounce, down seven cents for the day. Several of the latest short-term market projections are looking increasingly bullish, with some saying that gold could reach $1250 per ounce and silver could reach $18 per ounce before the year ends.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
