Daily Rare Coin Update
March 10, 2009 – Once again, the value of rare coins seems to be appreciating instead of decreasing in value along with the daily market spot price of their respective metals. Investors have experienced this in the past, but lately it has become more apparent especially with the increasing popularity of investment grade rare coins. The stock market has seen some spontaneous movement today after the recent news from Citigroup saying that they have had a profitable year so far. There also seems to be a small cloud of confidence in the United States Dollar along with its government and the recent speculation is that the global economy is on its way to recovery and growth may be underway. Although it is good to remain optimistic about the future of our economy, it may not be realistic with trillions of dollars being spent to dig us out of this very deep hole. The long-term after-effects of these actions could be either hyperinflation or deflation, which could be very beneficial for the value of rare coins and precious metals since they have a tendency to thrive during recessionary cycles.
Today the value of rare coins in the investment-grade varieties are either remaining flat or increasing in value despite the spot price of gold falling to $895.80 per ounce, a decrease of $25.70 or 2.83% for the day while silver also falls $.40 to $12.54 per ounce. My recommendation is to keep your eyes on the latest spot prices along with the PCGS Price Guide in order to analyze the best time to purchase and liquidate your coins.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
