Daily Rare Coin Update
February 2, 2009 – Rare coin investments are proving their powerful ability to maintain value while their precious metal contents decline in price. Today we see precious metals fall a bit due to the possibility that last week’s metal rallies were a bit overdone and of course the short-term investors selling off portions of their assets in order to quickly profit. Economic times are getting worse by the day which is probably the reason why we see more and more investors looking towards metals and rare coin investments as their safety from the storm. For example, almost every single major company has already reported more than a 50% decline in profit last year and the United States unemployment rate is slowly but surely inching its way to the 5 million mark, the official halfway point to what was experienced during the early Great Depression. Times just aren’t looking good right now and we could be seeing even the speculative investors taking positions in rare coin investments since there may not be anything else that may profit and preserve as well as them.
Today the gold price come down to $906.10 per ounce, a 2.27% loss for the day but still at a 3.57% increase for the month while silver falls $.24 to around $12.42 per ounce. Projections for precious metals and rare coins in general are currently looking bullish for 2009 so this is really just a waiting game to see what will happen. Invest well and have a beautiful day.
Arthur McGuire
Senior Staff Writer – Rare-Coin.org
