Daily Gold Eagle Update

May 12, 2009 – The term “Double Eagles” could refer to either the $20 Saint-Gaudens or the $20 Lady Liberty coins because both coins were worth double the original price of the $10 Eagle. The Double Eagles were minted during a very important time for the United States economy, starting from the California Gold Rush and ending in the 1933 confiscation of gold bullion. They were once considered currency similar to a modern-day $20 bill, yet they were worth significantly more because inflation was much lower back then. As far as investing is concerned, I have seen that investors who seek long-term wealth preservation usually benefit by owning these coins because they historically preserve and profit a little bit better than modern-day bullion products when held over a three-year period or longer. It is very important that investors understand that certified rare coins should not be used for short-term profit like modern-day American Eagles. This being said, it is always recommended that wise investors work directly with a market expert in order to figure out what could be best for their investing goals and needs.

By around 12:50 PM Eastern Standard Time, the modern-day bullion American Eagles along with several Double Eagles are increasing in value as the gold spot price begins a small rally up to $921.40 per ounce, jumping up $8.10 for the day and also jumping up $37.40 in the last year. The latest short-term market projections are expecting the negative correlation with gold and the United States Dollar to continue, so it may be wise to track the Dollar Index in order to determine the path that spot prices may take in the next few weeks.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org