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Gold Coin Sales

February 22, 2010 – While sovereign debt problems in Greece have helped turn gold prices around, gold coin sales could rise even higher as economists turn their attention away from the woes of the Mediterranean country and back on the looming problems in the United States. With a debt rising faster than its revenue is able to cover, the US is quickly becoming a major concern on the world economic stage, and it is leaving more investors ready to get out of currency-based holdings and back into gold.

Economists are alarmed at the Greek financial situation as the country’s overall debt to gross domestic product has reached 113%; the United States isn’t far behind. Currently at a debt to GDP of 87%, the US is poised to reach 100% if Obama’s next fiscal budget is approved and signed into law. Lawmakers have even been looking for concessions to avoid a default on credit payments this fall.

This doom and gloom scenario for the United States leaves people looking for ways to protect their financial security and personal wealth. Since the currency of a country in such distress will suffer as well, the US dollar can not be the protective hedge that gold coins can be. Gold has a historical reputation as an investment hedge during difficult times; gold purchased with US dollars typically rises in value when the dollar falls, making gold more valuable during inflation and economic distress. Just like gold has risen against the euro during the Greek sovereign debt crisis, it is likely to do the same as the dollar slides.

For investors, now is an excellent time to consider additional gold investment. Prices have only just started climbing on the anticipated rally and analysts such as Chartered Market technician Daniel Bruno are beginning to predict gold coin prices as high as $1,400 per ounce this year. Investors have the opportunity to purchase an asset that can increase in value, even as situations like those in Greece and the United States deteriorate. 

Kevin Johnson

Senior Staff Writer – GoldCoin.net

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