Future of Gold is Bright

The price of gold is shining brightly into the future, no pun intended. Analysts at the Bank of America recently projected the spot price of the yellow metal topping $2,000 later during this year. Citigroup agrees that gold is set to perform well, but perhaps not at the near record prices suggested by some analysts. The price of gold American Eagle and other bullion-impacted coins have already taken off. This includes silver composition coins as well, which have seen significant gains recently. All this bodes well for coin collecting as some of these precious metal investors will undoubtedly purchase coins rather than ingots. This in turn tempts them to dip their toes into collectible and ultimately into rare coins as well. The rare coin end of the market is well stocked, not with lots of inventory but with an almost endless parade of name collections that continue to be consigned to auctions. There simply are a lot of very desirable coins now available, especially through high-profile auctions that haven’t seen the light of day in a very long time. No one is going to consign rare coins to an auction, even with a high reserve price, unless that consignor thinks the time to sell for a favorable figure is now. This rare coin rally began during what I would call good times but has continued even now as the economy borders on entering into a recession. Coins as a wealth preservation option for jittery stock market investors is helping to drive the current market, but there are serious collectors with serious money also involved. No matter how many rare coins are being offered, there appears to be buyers eager to access them.