Daily Rare Coin Update
July 9, 2009 – Rare coin prices are not seeing very much movement today despite higher gold and silver spot prices, yet fortunately several investment-grade rare coins did not see downward movement in the past few days as spot prices tumbled. The price guides of both the Professional Coin Grading Service and the Numismatic Guaranty Corporation are showing little fluctuation with the most popular coinages such as the $20 Saint Gaudens, $20 Lady Liberties and $10 Indian Heads. Several rare coin market analysts are forecasting that prices could increase within the next few weeks as dollar-backed assets continue facing pressure from inflation and other negative economic factors. Today, gold is fluctuating at around $912.50 per ounce, while silver is fluctuating at around $12.84 per ounce. A small rebound with both metals is occurring, yet nothing significant enough to spark higher rare coin prices in the short term. Keeping a close eye on spot prices and the Dollar Index is highly recommended because both factors are leading the way for higher or lower rare coin prices at the moment.
Safe haven is slowly on the rise today as the United States Dollar has been put on the “hot seat” after government officials mentioned further overprinting and quantitative easing measures in order to prevent a significant loss of confidence in the dollar, stock markets and bonds. These short-term fixes could create some dangerous long-term problems in our economy, with inflation being one of the biggest fears to many investors. Fortunately, gold and silver rare coin prices may thrive if the economy worsens because historically, safe haven precious metals increase in value when dollar-backed assets tumble.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
