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Gold and Silver Prices Surge after Downgrade of Ireland’s Debt to Junk Status

Concerns over the sovereign debt crisis in Europe continue with Moody’s downgrade of Ireland’s debt to junk status, joining Portugal and Greece as the third European country to have its credit rating reduced to junk status.  With a negative outlook, and ongoing concerns with the ability of Italy and Spain to service their debt payments, it’s possible that we could see contagion spread in the Euro area.  This recent development, as expected, has resulted in a surge in the price of all precious metals today, with silver leading the pack.

Concerns of the ability of countries to service their debt payments, along with record high deficits are just two of the factors that typically cause gold, silver, and platinum prices to rise.  Other factors include inflation, or the threat of inflation, economic structural weakness, such as poor manufacturing and jobs reports, and a stock market crash or a bank crisis.  Some of these other factors, which appear to be valid concerns, could further raise the price of precious metals.

With gold, silver, and platinum on the rise, now’s a great time to sell your coins, bullion, bars, and rounds for top dollar.  All three precious metals are up for the year, so you’re sure to lock in a substantial profit if you happened to purchase your items prior to the beginning of 2011.  If you were fortunate enough to purchase your coins a year or two ago, you may be able to double or even triple your money!

If in the market to buy gold or silver coins, this may also be a good time to purchase bullion, as silver is still down from its 2011 high and the commodities market likely hasn’t factored in the risk of the European sovereign debt crisis spreading to Italy and Spain.  By the way, all of the previously mentioned European countries make up the affectionately termed acronym of “PIIGS,” which consists of Portugal, Italy, Ireland, Greece and Spain.

Whether you’re in the market to buy or sell gold, silver, and platinum coins, Atlanta Gold and Coin Buyers, metro Atlanta’s premier gold and coin buyer, should be your coin dealer of choice.  We regularly beat the offers of our competitors and sell at some of the lowest premiums in the industry, making our buy/sell spread one of the lowest, if not the lowest in the Southeast.

Give us a call today at 404-236-9744 to take advantage of these amazing buying and selling opportunities and let us earn your business!

Tony Davis
Tony Davis