Daily Rare Coin Update
February 23, 2009 – Rare gold coin prices maintain their value during the weekend sell-off as investors seeked to lock in the gains they had made after gold reached its 11-month high of $1006.29 per ounce last week. Many investors around the world are realizing the potential of precious metals at the moment, which is why they’re flocking to traditional products such as bullion bars and coins and of course the more historically profitable and preservative products such as the certified investment-grade rare coins that are becoming more popular by the day. The fact that rare gold coin prices are increasing to higher-than-expected is a sign that investors have finally taken into consideration the gains that certified coinages could make when compared to bullion products and mainstream investments like stocks. Precious metals in general have become an ideal investment option to own during this financial crisis, so having a possibly more profitable and preservative product makes even more sense to these wise investors.
During the midday trading hours rare gold coin prices haven’t moved too much despite the gold spot price increasing to around $993.30 per ounce and the silver spot price increasing to around $14.59 per ounce. It’s important to keep our eyes on all external factors that could affect the prices of rare coins as well as precious metals, especially since many market analysts believe that they will see a small decrease in value, which will then be followed by a steadier increase in price that could result in the record highs of both metals being surpassed in the upcoming months and years. I wish you the best luck when investing in precious metals.
Arthur McGuire
Senior Staff Writer – Rare-Coin.org
