Daily Rare Coin Update
March 9, 2009 – Several of the investment grade rare American coins in particular Mint State Gradings have performed impressively in the last few years especially since their potential to preserve value has become apparent for investors looking for a longer-term store of wealth investment. There are many different types of rare American coins, but the majority of investors at the moment are heavily purchasing the $20 Saint-Gaudens coins because of their historical tendency to outperform most other certified coinages in the long run. Their consisting metal, gold, has been one of the best performing commodities during 2009 and has climbed 6.6% this year compared to the United States Dollar that is also up 9.3% and the MSCI World Index of stocks that is down 25%. Investment demand for precious metals is increasing at alarming rates, which is probably why many financial situations are recommending wise investors to properly diversify their portfolios with the appropriate safe haven investment such as rare American coins.
Spot prices of precious metals are taking a small hit today, with gold moving down to $921.90 per ounce, down $16.50 for the day but still up $10.50 for the month while silver moves down $.40 to around $12.93 per ounce. Keep your eyes on the recent spot prices especially after the recent comment by Warren Buffett saying that the United States economy “has fallen off a cliff” and that our government effort to revive growth is “potentially very inflationary.” Inflation alone could cause a lot of growth for gold and certified coins in the near future.
Shawn Penny
Senior Staff Writer – Rare-Coin.org
