Daily Rare Coin Update
June 8, 2009 – Rare coin trading has increased in popularity significantly since the turn of the millennium as masses of investors began shifting their investment funds away from mainstream investing markets and into gold and silver. Modern day gold and silver bullion products are considered a volatile diversification because they trade closely with their spot prices, while on the other hand, investment-grade rare coins trade loosely with spot prices, giving many investors the extra edge that they seek with a precious metal investment. Let it be known that rare coin trading is not for everyone, and I typically only recommend it to American investors who seek to long-term wealth preservation as opposed to short-term profit, which is best left for bullion. If you’re looking to begin rare coin trading as a long-term wealth preservation diversification, you may want to look into coins like the $20 Saint-Gaudens and $20 Lady Liberty because they are the most popular amongst rare coin investors at the moment due to their interesting track record of profit and protection.
By around 4 PM Eastern Standard Time, the majority of investment grade rare coins are remaining flat on both PCGS and NGC price guides as the gold spot price falls to $951.70 per ounce, down $2.90 for the day while the silver spot price falls to $14.94 per ounce, down $.33 for the day. Short-term market projections are expecting a rebound before the end of the week, so keep a close eye on the spot prices as well as your favorite numismatic price guides.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
