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Why Aren’t Gold Coins More Popular Since The Government Shutdown?

The U.S. federal government has been shut down for a week now and everyday Americans are starting to feel the ill effects. Aid for veterans is in danger, national parks and zoos are closed and one of the most unfortunate consequences of the shutdown is that family members of deceased members of the armed forces are no longer receiving death benefits that would normally allow them to care for transportation and funeral arrangements.

Gold usually spikes with hiccups in the government but no such upward movement has been seen in the last week. Why? Most investors are scared stiff; they are so unsure about what the government shutdown means that they have been frightened into inactivity. Other investors are keenly aware of how dangerous investing in gold coins could be with our government being broke and unable to stay open for business. A gold bullion confiscation could be our government’s answers to the budget crisis, and many safety-seekers have shed their bullion holdings as a result.

Certified gold coins and other collectible types of gold coinage have experienced an increase in interest by those who would normally never consider rare coins as investment vehicle. Since there are so few of these coins on the market (most buyers hoard and never sell) the gold spot price has not seen a bump because of the buying frenzy. Bullion sellers and profit-takers have forced gold to $1300 per ounce (again) but the inability of our elected officials to do the one thing we hired them to do speaks volumes about the state of our economy. Once the shutdown, slowdown, slimdown or whatever you want to call it is solved (temporarily) expect gold bullion coin prices to rise, as their rare gold coin counterparts have been doing for the last week.

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