October 8, 2009
Posted by Adam King on October 08, 2009
October 8, 2009 – Certified gold prices have begun to catch up with the gold bullion price’s rapid movement from the last three days, after failing to fully reflect the massive escalation that occurred in the gold spot price since Tuesday. MS61 Lady Liberty $20 gold pieces that have been certified by either the Professional Coin Grading Service(PCGS) or the Numismatic Guaranty Corporation(NGC) are currently trading near $1800 per, which is a 2.9% increase on that coin. The most popular certified gold coin in the United States right now is the MS64 Saint Gaudens coin, which is valued at just under $2100 as of 12:30pm EST. These coins have outperformed gold bullion’s movement every month this year, and current economic indicators show that these coins could approach or surpass their historic highs during the next three years.
Repairing our wounded economy is proving to be an overwhelming task for our “leaders” in Washington, and their first bailout and stimulus package appears to be providing some cushion for US markets. It may not be enough to salvage our wrecked economy, though, as hundreds of thousands of jobs continue to vanish each month, and retailers nationwide are expecting another horrendously slow holiday shopping season. Our government told us in January that the unemployment rate, then near 7%, would never surpass the 8% mark. Less than 10 months later, we hover at the brink on a 10% national unemployment rate, which has been a virtually unthinkable figure for our nation since the Great Depression. "Consumers remain under pressure on multiple fronts. I don’t think consumer spending is going to see a substantial up-tick," said Ken Perkins, president of retail research firm Retail Metrics.
Consumers are opting to stay liquid this holiday season, which is why certified gold and silver have become an interest to so many individuals. These coins are liquid globally, and the privacy that these coins provide is of much greater use to many of today’s investors than any new necktie, clock radio, or “gift-wrapped” bowling ball.
Stewart Lawson
Senior Staff Writer – Certified Gold Exchange
Categories:
US Gold Market
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