Daily Rare Coin Update
May 11, 2009 – $20 Saint Gaudens coins are amongst the most popular United States rare coins in existence because of their exquisite design that was later replicated on the modern-day bullion American Eagles. The concept for the Saint Gaudens coins began in 1906 when President Theodore Roosevelt decided that he wanted to beautify American coinage to look more like the impressive coinage of ancient Greece. He then hired Augustus Saint Gaudens to begin producing the design, and his impressive attention to detail gave us what has been referred to by many as the most beautiful American coinage ever. As far as investing is concerned, the Saint Gaudens coins certified by the Professional Coin Grading Service between the Mint State gradings of MS-61 and MS-66 have become popular amongst long-term preservation seeking investors who want a product that is not as volatile as modern-day bullion. Since 2001, several of these coins have even profited more than bullion coins making them an interesting alternative to long-term profit seekers as well.
By around 3:40 PM Eastern Standard Time, several investment-grade certified rare coins are maintaining value while the daily market spot price of gold falls to $913.60 per ounce, down $2.60 for the trading day. The silver spot price on the other hand has fallen to $13.95 per ounce, down four cents for the trading day. Market analysts are expecting this week to be a decisive period for many investments because visible prominence may occur with either safe haven metals or risk-taking stocks and bonds.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
