Daily Rare Coin Update
December 18, 2009 - The rare coin market underwent some crucial changes in the last two weeks, with the culprit behind the dual gains of November being a stronger dollar and soaring stock indexes, which have increased consumer confidence and dropped safe-haven demand like a lead weight into the abyss.
Even though gold and silver have increased by 30 and 50% respectively in the last 365 days, the $100 pullback in the gold spot price in the last two weeks has led many investors to wonder if the gold rally is over. There is no way to tell what spot price fluctuations will occur, although we can look at historical patterns and base our professional projections on what has happened historically.
In the 1970s and early 1980s, inflation was rampant and the dollar lost over 45% of its spending power. Investors flocked to gold and other dollar-priced commodities, which proceeded to skyrocket for years. Gold shot to $850 per ounce and silver went to $55 per ounce, and other commodities like sugar, cotton, and oil, also performed well. Most US economists believe that precious metals spot values will continue to rise until our recession truly eases and our dollar strengthens, and the rare coin market has definitely benefited from the increase in gold and silver spot prices over the last year.
The rare coin market offers investment-grade coins that are completely private to purchase, and these coins track the gold and silver spot prices you see on TV, in the newspaper, and on the Internet, at places like www.GoldPrice.net. There are higher costs associated with the purchase of certified rare coins, because they have a much higher upside potential than bullion.
In addition to the potential profits that you could take from rare gold and silver coins, the fact that rare coins have been classified as private by our government is a crucial benefit of entering the rare coin market. To learn more about gold and silver coins that could protect your wealth privately, register below, or give us a call if you would like your copy of our 2010 Insider’s Guide to the Rare Coin Market.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
