December 19, Daily Rare Coin Update
December 19, 2008 – Rare coins continue to increase in value despite some small drops in gold and silver spot prices due to Americans slowing down their holiday buying for the season. Rare coins such as the $20 Saint-Gaudens and Morgan Silver Dollar have maintained solid value and projections are putting them at around 15% higher prices by early 2009. Gold falls for the second day as the United States Dollar stabilizes and gains against the Euro and Japanese Yen due to their Central Banks further cutting deposit rates and lifting their current lending rates. Gold is currently trading at around $840 per ounce, down $12 from yesterday but still at a 14.34% increase for the month and a 4.89% increase for the year. Silver also fell a small bit down nine cents to $10.87 per ounce.
Oil prices continue to lead the way for certain commodities as it drops down to $34 per barrel, which is its five-year low. This really comes as a surprise seeing that oil was trading at more than $150 per barrel this past summer.
President-elect Barrack Obama has planned a stimulus package to be spread over the first two years of his presidency that will consist of around $775 billion to strengthen the American economic backbone. The best advice I can give is to prepare yourself with rare coins just in case anything goes wrong. Have a beautiful weekend and don’t forget to invest in the best.
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
