Daily Rare Coin Update
December 14, 2009 – Some economists have stated recently that rare coins could be a wise investment vehicle if you have long-term goals in mind and you believe that precious metal prices will rise. Considering both sides of the rare coin market could be helpful in determining if you believe it to be bearish or bullish. First of all, you must determine whether or not you believe that gold and silver prices will rise in the future. Gold is currently valued at $1227 per ounce and silver is selling for $17.34 on the COMEX division of the New York Mercantile Exchange (NYMEX), and projectionists believe that the fluctuation of spot prices in 2010 will depend upon our leaders’ ability to improve our nation’s economic circumstances.
Additionally, the Federal Reserve’s key interest rate is near zero and has been for some time, and there has been widespread speculation that Fed Chairman Ben Bernanke will start to raise interest rates in the near future. When this happens, the newly printed dollars could devalue the dollars already in circulation and create hyperinflation as it did in the 1970s. Interest rates reached double digits back then and precious metal prices were driven to then-record heights.
If you believe gold and silver prices will rise, a rare coin investment may be appropriate. However, rare coins are only advisable investments if you plan on a hold of 14 months or more, and if you are concerned about the privacy of your wealth. Certain rare coins have been deemed non-confiscatable and completely private by our government, and you can contact Rare-Coin.org directly to learn more about privatizing your wealth with a rare coin investment.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
