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Thursday, 19th November 2009 (3400 views)

Collectable gold coins are one market that is benefiting from the recession, according to the Wall Street Journal.

The paper says that investors see collecting high-end coins as a safe haven during the current economic uncertainty when compared with more traditional investments such as bonds or stocks.

Historically, acquiring high-end coins as assets has been advantageous to collectors. One index of rare coins has returned an annual average of 11.3 per cent since January 1970.

Saint Gaudens $20 gold coins from the early 20th century have recently been sold for $1,700 (£1,018) apiece. The coins were not in perfect condition, but they still managed to beat a record high that was last seen over two decades ago.

Money manager Robert Beckwith has recently renewed his childhood passion of collecting coins. He told the newspaper: "This is my way of diversifying away from stocks and bonds and the US dollar."

Gold coin production has been more than quadrupled by the UK Royal Mint this year.

 

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