Daily Rare Coin Update
April 28, 2009 – Several of the more popular investment grade certified coins like the $20 Saint Gaudens are holding onto their value rather well despite significant losses in the daily market spot price of gold based on a large rally in the United States Dollar. Despite the rally to the dollar, stock indexes are losing significant value, but more importantly, bank stocks are getting hit hard after the United States Government warned several banks that they needed to increase capital in order to sustain lending power in the event that the economic recession worsens. Bank of America stocks have lost 12% while Citigroup lost 8.1% for the trading day. Investors who fear further problems down the road with mainstream investment markets may benefit from owning certified metals like the $20 Saint-Gaudens coins that have a historical tendency of thriving during difficult economic times. Many of them have increased in value more than 300% since 2001, and short-term projections are expecting them to continue increasing as inflation and other negative economic circumstances begin withering away at the United States Dollar and any assets tied directly to it.
By around 1:30 PM Eastern Standard Time, the popular $20 Saint-Gaudens coins are standing strong as they usually do when spot prices drop significantly, and gold is currently trading at $892.60 per ounce, falling $13.50 for the trading day while silver is currently trading at $12.48 per ounce, falling $.42 for the trading day. It has been recommended that investors pay close attention to the upcoming results of government bank stress tests because they may fluctuate the majority of financial markets in the near future.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
