Daily Rare Coin Update
March 19, 2009 - Investment-grade certified rare coins such as the $20 Saint-Gaudens and $10 Indian Heads have become some of the most impressive precious metal buys during 2009 and many wise investors are flocking to them in order to expand the boundaries of a precious metal investment. The recent flock to gold and silver products is due to the Federal Reserve deciding to purchase as much as $1.15 trillion in US bonds and mortgage-backed securities in order to aid our economy. This has sent stocks on a fluctuation frenzy and it’s also causing a lot of instability in the majority of financial markets at the moment. The latest rally into safe haven assets is being referred to as “insane” because people didn’t expect something like this to occur till around 2010 two 2011. Supposedly, the United States is only experiencing the tip of the iceberg as far as inflation is concerned, so there may be many surprises in the near future. This being said, a diversification into coins such as the $20 Saint-Gaudens probably wouldn’t be a bad idea during the worst financial crisis since the Great Depression.
Rare coins are benefiting from the precious metal rally that has gold sitting at $955.50 while silver moves up to around $13.49 per ounce. Market analysts are saying that further upward fluctuation could be seen unless positive economic data becomes released in the next few days. There is a high possibility that gold in particular could surpass its all-time record high of $1033 per ounce within the next few days, so keep your eyes on the spot prices and remember to invest well.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
