Daily Gold Coin Update
April 2, 2009 – Gold Saint-Gaudens Double Eagles are amongst the most popular investment grade rare coins because they are the original pre-1933 American Eagle. Wise investors purchase these gold Saint Gaudens Double Eagles because they have a historical tendency of preserving value a little bit better than bullion coins while at the same time profiting at a higher ratio than bullion when used as a longer-term investment. Today for example, the bullion spot price fell $28.20 which reduced the value of coinages such as the American Eagles and Canadian Maple Leafs, yet several of these investment grade rare coins are still at the same value they were yesterday, nearly unaffected by the decline in spot price. This particular reason alone makes the gold Saint-Gaudens Double Eagles so appealing to safe haven investors who want to own an asset that doesn’t fluctuate heavily based on sudden market movement. Fortunately, investors can take the opportunity to purchase them before they reach their projected highs by mid-summer if the spot price hits $1500 per ounce or higher.
During the midday trading hours, the gold spot price has been lowered based on speculation that the United States economy will recover after this G20 meeting, despite the fact that market analysts believe that the worst is still to come with hyperinflation looming just around the corner. The metal is currently trading at $899.20 per ounce, falling $28.20 or 3.04% for the trading day. Short-term projections are saying that the metal could trade in the area of $900 per ounce and possibly begin rebounding into the $950 per ounce area by next week as safe haven demand increases.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
