Some Americans decided to invest in coins about 30, 40, or even 50 years ago. Now, they may have realized that inflation has reduced a lot their buying power in retirement.
In fact, retirees may be affected by soaring prices more than they expected. That is why it is time to look for the coins you possess. Some Americans may have never bought one, but they may have inherited a collection.
A coin that could help you boost your retirement savings
The average Social Security retirement benefit payment is worth about $1,919. If you neglected your 401(k) savings plans and you made no property or company investments, you may regret it now. A rare gold coin that has become extremely valuable is the 1927-D $20 gold Saint-Gaudens.
Those retirees who have it in 2024, may have bought it for $59,000 over 54 years ago. The 1927-D $20 gold Saint-Gaudens was sold for $4,440,000 a couple of years ago.
That means its price could be even higher in 2024 or in 2025. Of course, this is the best example of how a coin has seen its value increase. But you may have other ones at home that could perhaps save you from a financial difficult for a month, year, or who knows if for a decade.
The importance of rare gold coins
As a matter of fact, collectors and numismatics experts claim that rare gold coins are more stable over time. Gold bullions may see how its price goes up and down.
Therefore, they may be a riskier investment. Silver dollars like an 1893-S Morgan may be another great example. Some collectors and investors may have it for less than $2,000 in the 70s.
Surprisingly, the value of a perfect and in good condition 1893-S Morgan silver dollar could be worth over 1 million dollars in 2024.
The thing is some Americans have hoards of dollars at home and they may not realize how valuable they have become over time. Rare gold and silver coins should be your target, so look for them at home and check their value. PCGS can grade your U.S. cash, submit one following these steps: https://www.pcgs.com/submissionguide