Daily Gold Coin Update
July 17, 2009 – Gold prices continue their mid-summer siesta, as the yellow metal continues to hold close to the $940 an ounce resistance mark. There is no doubt some disparity among some wide-eyed investors, as gold was projected to surpass it’s all-time record high of $1033, by now, but experienced investors know that the wheels of the global economic machine turn slowly. Both novice and experienced investors have been buying gold coins in anticipation for the projected spot price climb, with diversified purchases in rare coin, for long-term security, and bullion coins, for precious metal IRA’s, as well as for short-term potential profit. Dormant spot price activity is typically commonplace during midsummer weeks, and it looks like we’ll all have to wait a bit longer for economic events to unfold.
One major concern among investors is the passing of health care reform legislation by Congress, which could cast an even more massive shadow of doubt over dollar values, which hold an inverse correlation with gold prices. Historically, buying gold coins is arguably the ideal means to protect wealth from depreciating dollar values, as rare coin investments protect dwindling dollar values with their numismatic value, which tends to appreciate over time. Two of the best performing rare coins over the past few years, have been $20 Lady Liberty’s, and $20 Saint Gaudens, 22-Karat gold coins. We’ve already crossed over the threshold into a long-term inflationary cycle, which is prompting more and more investors into buying gold coin. Prospective investors are advised to thoroughly evaluate their specific financial needs, and then to contact an investment specialist from a reputable, large-volume precious metal dealer. By doing so, household investors can avoid paying retail prices for their bullion, and rare coins.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
