Our research department has seen these coins selling for $9,000 on Internet auction sites, we feel it is very unlikely that these coins hold those high values for long.
Fort Worth (PRWEB) September 09, 2014
Texas-based precious metals dealer GoldCoin.net issued today a High Risk Investment Alert for the recently-released John F. Kennedy gold half-dollar commemorative coin in response to an August 14th Forbes article about the speculative and risky nature of commemorative gold coins. Company spokesman Keith Kelly believes hype created and stoked by rare coin dealers has led to inflated commemorative gold coin prices.
“The JFK gold coin originally sold for $1,240, and by today’s gold spot price the amount of gold in each JFK gold coin is worth about $1,000,” Kelly said. “Our research department has seen these coins selling for $9,000 on Internet auction sites, we feel it is very unlikely that these coins hold those high values for long.”
Peter Hug of Kitco Metals agrees. Hug calls coins like the JFK commemoratives “extremely risky” investments that are “hit or miss” when it comes to profitability. “Most of the time the premium for these coins dissolves. I personally don’t think this coin will maintain this price premium.”
Kelly is also concerned that investors are putting too much emphasis on terms like “First Release” and “First Strike”. “The U.S. Mint does not designate those terms. That is a secondary market tactic to increase margins and profits for gold coin brokers.”
Kelly recommends that investors interested in buying gold coins visit GoldCoin.net for a free gold coin investing guide as well as access to the company’s award-winning gold investing tutorial. “Our brokers are non-commissioned so we are always prepared to refer investors to a reputable dealer in their area if the investor cannot meet our minimums or wants to buy locally,” Kelly added.
Gold Coin (GoldCoin.net) has over two decades of experience advising household investors on smart physical gold and silver investments and gold coin IRA and 401k plans. They buy and sell all types of precious metals and offer free home delivery. For more information or a free Gold Coin Starter Kit, visit http://www.goldcoin.net or call 1-800-425-5672 today.