Daily Gold Coin Update
June 23, 2009 – The British Sovereign coins are a very unique gold bullion coin because they have been in production since the late 1400’s by the British Royal Mint. The older versions of these coins are considered highly sought after numismatics, yet many investors tend to purchase only the modern-day bullion British Sovereign coins because like the American Eagles and Canadian Maple Leafs, they have proven to be a viable short-term profit-taking tool during times of economic distress. Although not as popular as the American Eagles, the British Sovereign coins demand a lower premium than most bullion coinages because of their smaller size and 22-karat purity. Always remember that it is highly recommended that investors deal hand-in-hand with a gold coin expert before making a diversification in order to find out exactly which coins may be best for their investment goals and needs.
By around 2:45 PM Eastern Standard Time, gold bullion coins are increasing in value while investment-grade rare coins are remaining flat for the day because the spot price has only made a minor increase, which usually doesn’t create much fluctuation with certified coins. The current gold spot price sits at $925.30 per ounce, up $2.70 for the day and also up $24 in the last year. Short-term market forecasts are predicting that spot prices could begin climbing up to $950 per ounce or higher if the United States Dollar continues showing signs of weakness. This being said, it is highly recommended that investors keep a close eye on the Dollar Index along with the gold spot price because the current inverse correlation between the two may continue in the short-term.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
