October 28, 2009 Posted by James Randolph on October 28, 2009
October 28, 2009 – Despite improving stock indexes and profitable third quarters from many blue-chip companies, the Consumer Confidence Index (CCI) sank to 47.7 in October, according to The Conference Board, an economic research team. A reading of 90 shows that consumer morale is high. The Conference Board’s latest survey shows that more US consumers have worries about our economy now than last month. October’s readings are the second lowest since May, so it appears that our nation’s investors are growing more anxious with time. Time may heal all wounds, but much more is required to repair our grounded economy.
Nervous investors have increased their demand for safe-haven assets, such as certified rare gold. Some certified rare gold has remained dormant throughout the current gold cycle, so investors only deal with the most widely known, commonly traded coins. Obscure coins may fetch a high premium, but it is harder to price-check these rarities. Obscure coins may also be harder to liquidate since only a limited number of potential buyers exist, so investment-grade coins are the usual recommendation for serious long-term household investors. Most US investors buy pre-1933, American-minted coins to secure their portfolios over the long-term. The $20 Saint Gaudens Double Eagle is a popular example of an investment-grade gold coin. This coin was minted from 1907-1933, and many of today’s investors shift their funds into 22-karat, certified Saint Gaudens coins. The Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC) examine these coins for their authenticity and their quality, before placing them in a sonically sealed plastic slab. This slab helps the coins retain their luster and value, and each coin has its own serial number and grade assignment clearly labeled on the slab. Successful gold investors usually buy MS61-MS66 grade coins, which are not subject to a second bullion confiscation by our government. Visit www.Gold-Bullion.org to learn more about the 1933 gold bullion confiscation by President Franklin Roosevelt.
Senior Staff Writer – Certified Gold Exchange