December 29 - Daily Rare Coin Update
December 29, 2008 – Rare coins see some good fluctuation today as gold and other precious metals continue to rise to their peaks. Gold and silver coins such as the $20 St. Gaudens, $20 Lady Liberty, Peace Dollar and Morgan Silver Dollar have increased in value accordingly to their bullion/rare coin price ratio and as long as precious metals keep on rising, we could see some profitable certified coin investing in the near future.
Today’s gold spot price is around $879 per ounce, making a 1.20% increase in value for the day, a 9.6% increase in value in the last 30 days and a 6.53% increase in value in the last 365 days. Investors can’t really complain about gold right now as it looks to be one of the only physical assets producing significant gains in the short and long-term. These gains are a result of weakening currencies that seem to reaching uncomfortable lows at a fast pace. The American Dollar, UK Pound, Euro, Russian Ruble and many other currencies have all plummeted with little hope of ever restoring their spending value. Where it all goes, we may find out soon enough but holders of rare coins have historically protected their wealth during times like these by holding certified precious metals. They’ve helped me along with thousands of investors during tough times and I could see them helping us to the future. Have a great day and a beautiful holiday season.
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
