Daily Rare Coin Update
March 6, 2009 – Several of the common date investment-grade rare US coins are preparing to increase in value once again after seeing a small slump in the gold spot price that is beginning to rebound as a result of massive safe haven buying. Gold is beginning to make up for the losses that it made earlier in the week, and yesterday alone the metal increased in value 2.9% which is the most seen in two weeks. Several short-term projections are saying that United States investors will continue buying precious metals and rare US coins for the meanwhile until things begin looking better for the economy, if that ever happens. Talking about the United States economy, it has lost more jobs in February than at any time since 1949. Investors should begin preparing safe haven backup plans because the financial crisis is supposedly only in the very beginning. It’s unfortunate that so many people don’t understand the full depth of this recession, and hopefully they become aware before it’s too late.
Precious metals spot prices could soon be witnessing some impressive spikes in value as the demand for them increases substantially, thus increasing the value of the investment grade rare US coins. Today the gold spot price moves up to $938.70 per ounce while the silver spot price moves up to $13.33 per ounce. Safe haven buying is predicted to continue moving spot prices even higher, and those not involved in this type of investing should consider the market before things get too “out of hand.”
Arthur McGuire
Senior Staff Writer – Rare-Coin.org
