If anytime is a good time to buy gold, it’s probably now. There are many kinds of gold coins for sale to fit any kind of budget and investing and collecting style. You can buy new American Gold Eagles, the new St Gaudens Ultra High relief gold coin, Buffalo Gold coins and of course all of the older and more collectible coins with high numismatic value.
Today’s economic times are concerning everyone mainly because most, including our government leaders all the way up to President Obama, have no idea how all of this is going to turn out. The government seems to be on a fast track to spend as much money as possible in the shortest time they can do it in which will lead to nothing but economic disaster. Since the stock market is down from the high of over 14,000 a couple of years ago and the general trend is downward, people are looking for alternative investments and gold as well as other precious metals are gaining in interest.
The trend for gold in the last couple of years has been upward. In general, precious metals are usually up when the stock market is down and vice versa. But another trend that’s causing people to look at gold is the rising national debt and the inability of government to stop spending money. This has caused the lack of trust in traditional financial markets essentially making people look towards gold as an investment.
One of the more popular gold coins for investments today is the 2009 Ultra High Relief St Gaudens double eagle. This coin is the original double eagle as designed by Augustus St Gaudens back in 1907. The 1907 ultra high relief coin was only minted for a short time because a combination of the relief being too high and the edges being too thin caused the coin be unstackable and bankers didn’t like this so the coin was discontinued. The edge has been thickened a little taking care of the stacking problem and now the 2009 copy of this coin is hugely popular amongst collectors and investors.
There are many other kinds of gold coins for sale but this is one of the most sought after at the present time.
Investors and collectors alike must have had more on their minds than collecting and investing in coin and bullion the first week in July as sales from the US Mint slowed somewhat due to summer travel and the 4th of July holiday weekend. People tend to spend more money on vacations during the summer than they do on investments and collectibles.
This situation however, can be a good one for those serious about their gold coin collecting. Less people searching for and buying gold means a much better deal for you if you are ready to buy. Auction sites, especially eBay, will be the best place to take advantage of this slump during the summer. With less people buying gold, less people will also be bidding on gold making for some great deals and some quick bargains. Smart investors always want to maximize their returns so the best thing to do is buy low and sell high and their’s no better time to buy low than during the summer.
Another factor making for great deals right now is the lower price of gold. At $910 an ounce, gold is at the lowest point it has been in the last 2 months. This could be due to the lower demand right now during the summer, another reason to buy now.
Talk of a second stimulus package, which would actually be a third since stimulus packages have become a normal part of governing during the last days of President George W Bush and the current president Barack Obama, is making the rounds in Washington DC and apparently not many of our leaders seem to think this is a bad idea. If this insanity of building a mountain of debt by our government continues, acquiring gold will be even more important. So stay tuned to see what happens here at the Gold Coins Advisor blog.
The type of gold demanded in this situation is irrelevant. The Swiss refineries are facing higher demand from jewelers, banks, bullion depositories, and other businesses that need gold products. From bars and coins to jewelry and other gold products, there is no shortage of people who are demanding these products as fast as the Swiss refineries can crank them out.
Once gold is purchased, it is generally kept in a safety deposit box or at home in a safe or vault. This ensures that even if the economy falls apart, the consumer will still have some value in the raw material of the gold itself.
There is a limit as to how much gold can be produced and what sizes of gold bars are available for purchase, which makes it very hard to keep up with demand and the amount of gold that is coming in. Everyone seems to have commercials on television these days allowing consumers to send in their old gold jewelry for cash, which is partially a cry for the need for raw gold that can be re-melted and turned into bars and coins for investors around the world.
Keeping within the regulations of gold production and attempting to keep up with the ridiculous demand from investors in today’s economy is proving to be a struggle for Swiss refineries of all types.