Gold Soars to Record High

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Gold surpasses $1000 an ounce reaching record levels

Gold is viewed as a stable investment in times of economic uncertainties and gold provides this type of insurance

As Gold soars to record highes, business at Rocky Mountain Coin In Denver, Co. is brisk. With a 50% increase over the past 12 month and hovering at $1,000 per ounce, some people are cashing in. Not since 1980 has Degler, manager of RMC, experienced this type of activity.

At times, lines have formed of sellers of gold coins and medallions to broken gold chains, class rings, bracelets and other forms of jewelry. Not everyone however is cashing in on this bonanza. There are many worried investors about current economic conditions that are actively buying even at these higher prices. As the dollar has fallen to record lows, oil reaching over $100 a barrel, banking crisis, stock market uncertainties and inflation looming, people are looking for alternative investments such as precious metals. "Gold is viewed as a stable investment in times of economic uncertainties and gold provides this type of insurance" says Degler.

When buying or selling Degler notes, know who you are dealing with. Check with the Better Business Bureau, deal with established dealers and educate yourself about the market. A good place to start would be on the internet site, CoinInfo.com, which gives the current spot price of gold & silver, the average dealer buying of precious metals in all forms and a listing of coin & precious metal dealers across the nation. The site also gives you a conversation chart, that gives you up to the minute prices per gram on 10, 14, 18 and 24 karat gold.

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Klaus Degler

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