Daily Rare Coin Update
May 29, 2009 – Making the decision to buy rare coins can be very important for investors who seek to maximize their investment potential with precious metals, and this is why we always recommend that both new and experienced investors work with a market expert before beginning a diversification in order to find out if the market is truly right for them. As you may already know, there are hundreds of different types of rare and unusual coins, but there are only a small few that have proven their investment potential for long-term wealth preservation and profit purposes. When looking to buy rare coins, you should only stick to the widely traded, common date varieties of the popular $20 Saint-Gaudens, $20 Lady Liberties, $10 Indian Heads and $5 Indian Heads. The reason that these products are considered investment grade certified rare coins is because they carry a lower premium than the rarer and more unusual coinages, thus making them easier to purchase and liquidate. For example, a common date investment-grade $20 Saint-Gaudens may cost $2000 while a more rare and unusual $20 Saint-Gaudens may cost $200,000.
By around 3:10 PM Eastern Standard Time, we are seeing a moderately higher amount of American investors looking to buy rare coins at the moment because the gold and silver spot prices are headed in the upward direction as a direct result of increased safe haven buying. The current gold spot price is at around $977 per ounce, jumping up $18 for the trading day while the current silver spot price is at around $15.65 per ounce, jumping up $.50 for the trading day.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
