Business at Atlanta Gold and Coin Buyers has been as busy as ever as gold approaches $1,600 an ounce, and silver’s on the verge of eclipsing $40 an ounce once again. With no immediate end in sight of the Euro sovereign debt issue, people have been looking for hedges against this possible disaster. This event has also shed light on the U.S. debt ceiling issue, which is still ongoing; although, it’s likely that some type of agreement will be reached by the deadline, as the United States’ debt rating depends on this eventuality.
Individuals have been taking advantage of record high gold prices and equally impressive silver prices to sell gold and silver coins, bullion, and bars to Atlanta Gold and Coin Buyers at unbelievable prices. The strong performance in the precious metals market has also increased the confidence levels of individuals that are buying gold and silver coins as hedges against inflation and monetary concerns. With increased confidence comes increased buying, so if you’ve been sitting on the sidelines waiting for a signal that gold and silver should continue to perform well for the foreseeable future, now’s your opportunity to jump back in and participate in the market.
The latest news affecting gold and silver prices, and subsequently the gold and silver coin market, involves the tremendous amount of loans that many of Europe’s largest banks have outstanding to the PIIGS – Portugal, Ireland, Italy, Greece and Spain. Many of these banks also hold a large amount of sovereign debt of these countries, possibly making the effects of a default catastrophic for these banks. With the debt rating of Portugal, Ireland, and Greece recently downgraded to junk status and threats of Italy’s and Spain’s sovereign debt also being downgraded, many of these banks face the possibility of substantial losses, and possibly even bankruptcy.
In times of crisis or perceived crisis, the price of gold and silver coins, bullion, and bars increases, as it’s considered a safe haven or flight to quality. No matter what’s happening in the world financial markets, and more specifically to the currency of various nations, one thing is certain – gold, silver, and platinum coins can’t be mass produced at the flip of a switch as currencies can, making precious metals a desired asset class at times like these.
Assuming that you purchased your gold and silver coins, bullion, and bars prior to the beginning of 2011, you likely bought your coins at prices well below what the market will currently bear. Whether you’re considering selling gold and silver coins to lock in a nice profit, or for some other reason, there’s no guarantee that prices are going to remain at these strong levels, so the time to act is now! Give us a call at 404-236-9744, send us an e-mail at sales@atlantagoldandcoin.com, or click on the “make an appointment†tab on our website to schedule your free no-obligation evaluation and appraisal today!
