Daily Gold Coin Update
June 11, 2009 – Bullion gold coins are a favorite to many gold investors because they are a visually appealing way to invest in one of the most preservative assets in history. Bullion gold coins are an increasingly popular precious metal diversification because they are easy to transport, plus you can store large amounts of wealth in a very small space without having to worry about devaluing fiat currency. Some of the most popular coins are the 22-karat American Eagles and South African Krugerrands and the 24-karat Austrian Philharmonic and Canadian Maple Leafs. Typically, it is only recommended that investors purchase bullion products if they seek short-term profit from the precious metal market, because when used as a long-term investment they hold several vulnerabilities that make them unattractive to wealth preservation seekers. The major vulnerability revolves around bullion confiscation, which already occurred in 1933 during the Great Depression when President Franklin D. Roosevelt needed to confiscate gold from all US citizens in order to revive confidence in the United States Dollar and major banks. Several investors and market analysts believe that this may happen again, and that is why the ones who are truly worried about confiscation diversify into investment-grade certified rare coins like the $20 Saint Gaudens and $10 Indian Heads because they are deemed “non-confiscatable” according to Executive Order 6102.
By around 1:20 PM Eastern Standard Time, bullion gold coins along with several investment-grade certified rare coins are heading in the upward direction today as the gold spot price has officially rebounded and is climbing to $961.20 per ounce, moving up $7.30 for the day and also moving up $81.20 in the last year.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
