October 29, 2009 Posted by James Randolph on October 29, 2009
October 29, 2009 – Certified coins saw slight increases in value this morning, and economists expect the rising gold spot price to elevate certified coin levels further before the week’s end. Gold and silver coins that were produced by the US Mint prior to 1933 are the most widely utilized investment-grade coins, and these coins have extended their gains for a third straight trading session. The dollar has stabilized somewhat this week, but pending long-term inflationary pressures have increased investor demand for gold and silver coins that have been certified by either the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC). During the last three days we have seen the gold spot price pull back as the Dollar strengthened, but the upward movement in the certified coin market has continued. Economists expect that investors will search diligently for PCGS and NGC coins during the next few years, as our dollar weakens and faces possible insolvency and replacement.
By 11am EST, gold is trading at $1043.80 per ounce, which is $2.40 above today’s opening levels. The gold spot price has spiked 39.6% within the last 365 days, and Wall Street Journal economists have projected that the yellow metal could reach $1400 per ounce in 2010. The future of certified rare coin prices looks very bright with these projections, because these coins have historically outpaced gold bullion two-to-one. There are no guarantees in life, but many investors fear that our nation’s leaders will continue to look out for their own interests. If the powers in Washington do put their own interests before that of the nation, Americans who want to take control of their future will continue to take strong positions in the gold market. The safety and potential profit that comes with a physical gold investment could far outpace our traditional markets during the next three years.
Senior Staff Writer – Certified Gold Exchange