Daily Rare Coin Update
June 5, 2009 – The overall demand for gold and silver has tumbled today, yet several rare coin dealers are reporting that many investors are still deciding to purchase certified coins because of their notable preservation potential. In the past few years, the popularity of investment-grade certified rare coins has increased significantly as American investors seeked an alternative to volatile gold bullion. Many of these investors decided to purchase certified coins as a hedge from inflation and other negative economic woes, and fortunately several of these coins have increased significantly since 2001, some of them even climbing more than 300% in value. This being said, it is very important that you analyze your investment goals and needs before deciding to purchase certified coins in order to determine what product might be best for your portfolio. Also, don’t forget that there are many different types of certified coins available to investors, and I typically only recommend the widely traded, common dated coins such as the $20 Saint Gaudens and the $20 Lady Liberty.
By around 2:30 PM Eastern Standard Time, many of the investment grade certified rare coins are remaining flat for the trading day as both gold and silver tumble amidst a strengthening United States Dollar, and this has pulled gold down to $953.80 per ounce, decreasing $26.60 for the trading day while silver sits at $15.27 per ounce, decreasing $.61 for the trading day. Short-term market forecasts are saying that next week could see some rebounds for both metals, so keep a close eye on spot prices along with the Dollar Index because they are currently headed in inverse directions.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
