Daily Rare Coin Update
June 4, 2009 – The popularity of investment grade rare coins has been on the rise for the past few years, and it appears that more and more wise American investors are deciding to purchase Double Eagles because they have historically shown the most stable profit and preservation potential out of all the common date, widely traded rare coins. Between 1850 and 1933, Double Eagle coins were worth $20, and they were official currency in the United States, similar to a modern-day $20 bill. The two different varieties of Double Eagles are the $20 Lady Liberty and the $20 Saint Gaudens. Most investors who purchase Double Eagles typically diversify into the $20 Saint Gaudens because they are more widely available, which generally means that they are easier to purchase and sell when it’s time to make an investment decision. Plus, the $20 Saint Gaudens is also known as the most beautifully designed American coinage available, and that is why they used the same design on the modern-day bullion American Eagles that are in circulation today.
By around 3:30 PM Eastern Standard Time, the price guides of the Professional Coin Grading Service and the Numismatic Guaranty Corporation are showing that more people are deciding to purchase Double Eagles today, and this is causing prices to continue extending their gains faster than previously forecasted. The current gold spot price sits at $980.10 per ounce, up $17.50 for the trading day while the current silver spot price sits at $15.84 per ounce, up $.53 for the trading day.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
