Daily Rare Coin Update
May 15, 2009 – Rare gold coin pricing is mostly dependent on the condition and rarity of a particular investment grade certified rare coin, and this is why it is important that you know how prices are set in order to potentially maximize your investment potential with precious metals. Condition plays a very big role in rare gold coin pricing because it’s only obvious that a coinage in better shape would be worth more, and the leading certification agencies such as the Professional Coin Grading Service and the Numismatic Guaranty Corporation classify a coin’s condition with a Mint State Grading. Typically, investors only purchase certified coins within the Mint State Gradings of MS-61 and MS-66 because they have proven the most preservation and profit potential when held over a long period of time. Rarity on the other hand is also very important because a more scarce coin is only bound to be more expensive. Typically, investors do not purchase extremely rare coins, instead they stick to the common date coinages that are easier to purchase and liquidate due to their widespread availability.
By around 4:50 PM Eastern Standard Time, rare gold coin pricing on several of the common date certified rare coinages are increasing because the gold spot price has climbed to $931.40 per ounce, jumping up $5.70 for the day, yet the silver spot price has dropped to $13.97 per ounce, falling eight cents for the day. The week has proven to be rather profitable for gold in particular, and several market analysts are forecasting further gains as the economy worsens and safe haven demand boosts.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
