Daily Rare Coin Update
May 18, 2009 – Rare coin prices for the most popular investment grade certified coinages are remaining flat today while gold spot price tumbles around 1% for the trading session. Certified rare coins hold several advantages over modern-day bullion coins, and I have noticed that many investors prefer certified metals over bullion because of their ability to sustain value for longer periods of time. For example, I have personally seen the gold spot price fall about 3% in one week, and several rare coin prices maintained the same value they did before the contraction in spot price. This sole attribute drives many investors into this unique asset class because it is truly in a league of its own when compared to other investments. Another very interesting attribute that many rare coinages hold is their ability to remain non-confiscatable by the United States Government in the event that a similar scenario occurs like in 1933 when Executive Order 6102 was released, forcing Americans to give up their gold bullion in exchange for United States Dollars.
By around 4 PM Eastern Standard Time, rare coin prices are holding on strong as both gold and silver spot prices head in the downward direction, yet technical market forecasts are expecting a rebound by Wednesday if the upcoming negative economic data creates significant safe haven demand for precious metals. The gold spot price is sitting at $918 per ounce, falling $12.90 for the day while the silver spot price is sitting at $13.76 per ounce, falling $.19 for the day.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
