Daily Gold Coin Update
May 21, 2009 - Canadian Maple leaf prices usually refer to the price that an investor or collector pays when they purchase a gold Maple Leaf corn, and this price can fluctuate depending on the coin’s size and weight. There are five different denominations of Maple Leaf coins, and they are 1/20 oz, 1/10 oz, ¼ oz, ½ oz and 1 full ounce. It is very important that investors understand that Canadian Maple Leaf prices are usually a little bit higher than American Eagle and South African Krugerrand Prices because the Maple Leafs are made of pure 24 karat gold as opposed to the ordinary 22 karat. These coins typically sell at a very low premium above the daily market spot price, usually no more than 5% to 8% based on government mining and minting fees. As far as investing is concerned, the Maple Leafs are usually used as short-term profit-taking tools because bullion does not hold significant long-term preservation ability.
By around 1:30 PM Eastern Standard Time, Canadian Maple Leaf prices along with the majority of bullion and certified rare coin prices are headed in the upward direction as investors are currently flocking to gold as the ultimate store of wealth from a devaluing United States Dollar and floundering stocks. The current spot price of the metal is trading at around $949.30 per ounce, an increase of 1.29% for the day and also an increase of 1.88% in the last year. The latest forecasts are expecting extended gains if the economy continues looking worse and investors continue flocking to safe haven metals.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
