Daily Rare Coin Update
April 24, 2009 – Rare coin forecasts are increasing yet again as market analysts believe that the latest economic news will spark even more safe haven demand down the road. Certified investment-grade rare coins like the $20 Saint-Gaudens and the $20 Lady Liberties are in high demand at the moment from investors who want to own a fully private gold investment that cannot be confiscated by the United States Government in the event that the financial crisis turns into another Great Depression. There are many important external economic factors that are creating bullishness in the market, such as China doubling their gold reserves along with India doubling their physical possession bullion demand due to the upcoming festival and wedding season. Short-term rare coin forecasts are a lot more bullish than investors had seen in the beginning of the year, and this is a direct result of an overall weaker economy that is a historically beneficial time to own safe haven precious metals.
By around 2 PM Eastern Standard Time, the Certified Gold Exchange has reported a slight boost in long-term preservation demand along with a significant boost in short-term profit-taking demand, and this is occurring because the gold spot price has currently climbed to $912.70 per ounce, up $8.90 for the day while the silver spot price has climbed to $12.94, up $.12 for the day. Keep a close eye on the latest rare coin forecasts, because many are projecting nearly double current prices on the more popular investment-grade certified rare coins.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
