Daily Gold Eagle Update

September 17, 2009 - The American gold Eagle Proof coin is now the most often requested item by investors who want to convert retirement account funds into precious metals. The numbers are according to a survey by Certified Gold Exchange, a dealer-to-dealer trading platform that has also assisted household investors since 2001. Certified Gold Exchange and the dealers within the CGE network report that the increase in demand for the non-confiscatible American coinage is due to the growing number of investors who want an investment that could be safe if the government confiscates gold bullion.

Backing an IRA with gold, an option for investors since a 1997 law was passed, are becoming more popular now that traditional investments are being outperformed by commodities. Gold and silver bullion can go inside of an IRA, and American gold Eagle and silver Eagle coins are some of the most popular bullion coins chosen. Investors can also add Canadian coinage, or any bullion bar that is COMEX acceptable. However, the recent spike in American gold Eagle Proof coins is due to the fact that no other product is considered non-confiscatible for IRAs. CGE's survey also shows a positive trend in the PCGS and NGC certified pre-1933 US gold coins, which are non-confiscatible but not allowed inside either of the government's two approved gold depositories. If current trends continue, non-confiscatible gold coins could overcome their historical peaks and retirement accounts without precious metals could lose as much as 45% more of their value.

American gold Eagle coinage, which are currently not being minted because of the Fed's desire to hold on to the gold, is purchased and sold on the same exchanges as bullion products. Investors can visit www.kitco.com for bullion price estimates, and live prices for American gold Eagles and all other precious metals products is available by visiting www.goldprice.net.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org