Daily Rare Coin Update
January 26, 2009 – Rare US coins are at an increase once again as their precious metal contents are on a spike due to a weakening United States Dollar and speculation that the financial crisis will only continue to worsen, which in turn drives masses of investors to invest in safe haven assets in order to hedge their investments from further losses. We saw some initial hesitation during early-morning trading but gold quickly caught up and moved up to its three month high of $916 per ounce as the greenback and the yen declined in value. Scheduled job cuts are also causing investors to seek safe haven assets like rare US coins and precious metals and right now about 43,000 jobs are prepared to be cut in the next month with many coming from major companies such as Home Depot, Phillips, Sprint and Caterpillar. The upcoming massive injection of liquidity into our banking system with President Barack Obama’s $825 billion stimulus plan could cause some long-term inflation, which in turn could raise the value of gold and silver along with most rare US coins that consist of the metals.
Today we’re saying gold climb up to $905.50 per ounce, up $7.20 for the day and up $36.80 for the month while silver shoots up $.19 to $12.12 per ounce. Projections for both metals along with rare coins are looking very bullish at the moment and it has been recommended by many wise market analysts to enter the market while it is still possible. I wish you the best luck with investing and have an excellent day.
Arthur McGuire
Senior Staff Writer – Rare-Coin.org
