Get The Facts On Rare Coin Collecting At Rare-Coin.org
December 2, 2009 - Gold continued its’ ascent above the $1200 mark today, after it came to light that China, India, and other nations could battle for the 200 tons of gold that the International Monetary Fund (IMF) placed on the market. This has been cause for excitement among investors and individuals who engage in rare coin collecting. The gold spot price has been driven higher since 2012, and rare gold coins have forced upward by the increase in the value of their inherent precious metal content.
The devaluation of the dollar also historically coincides with the rise in gold spot prices and rare coin prices, and this trend has held true in our current cycle. Rare coin collecting is a hobby for many Americans, and this demographic should be pleased to know that they, as well as long-term US investors who utilize rare coins, are the owners of assets that have been projected to double in value over the next ten years.
Gold opened right above $1200 per ounce ion the COMEX division of the new York Mercantile Exchange (NYMEX), and quickly shot to $1217 in the morning trading hours. Gold is still holding strong at 3pm EST, as evidenced by the current spot value of $1214. While gold could increase by 12-18% next year, our dollar and other traditional means of investing have been projected to falter further in 2010.
Rare coin collecting individuals and investors who are seeking a private and secure investment should consider adding coins like the $20 Saint Gaudens and the $20 Liberty coin to their current holdings, because these American antiquities have been the best performing gold coins since 2001. A gold coin investment is a sound move to make, since overprinting of fiat paper currency has historically been favorable for gold products and other commodities. Contact Rare-Coin.org directly if you would like to learn more about supplementing your portfolio or collection with American rare coins.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
