December 17 - Daily Rare Coin Update
December 17, 2008 - Many rare coins continue to increase, especially the ones that consist of gold and silver. The ones with the biggest increases are the $20 Saint-Gaudens and the $20 Lady Liberty. Investment grade silver coins such as the Peace Dollar and Morgan Silver Dollars have also seen good increases due to their metal contents. The current gold spot price is $866.70 per ounce, which equals out to a 17.47% increase in the last 30 days, while silver sits at $11.30 per ounce. The future is positive for certified coins as more investors continue to enter the market in search for the ultimate investment during very tough times.
As the United States Dollar continues to decline and stocks continue to disappoint, American investors are looking towards alternative investments such as rare coins because they not only maintain value but also offer protection and profit during times like these. Tuesday, the Federal Reserve cut it’s federal funds target rate to between zero and .25%, which could cause problems in the future of American citizens as well as global economy. For rare coin investors or people looking to get into rare coin investing this may be a excellent time due to fairly low prices and the fact that projections for 2009 are very positive. If gold was to hit $1000 in 2009 and silver was to hit $15 we could see major spikes in the values of most investment grade certified coins. Until then and don’t forget to invest intelligently and invest the best. Have a great day!
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
