"They can't go back in time to make more of them," Simon Black says of pre-1933 U.S. coins
In a survey of alternative hard assets other than gold bullion
, Business Insider names rare coins
as an option:
The scarcity of rare coins
ensures retention of their value. The price of the 1907 $20 St. Gaudens gold coin
went from under $2,000 prior to the recession up to $2,720 this October. Simon Black notes that unlike gold
, whose supply levels can fluctuate, the supply of rare coins
cannot increase -- enabling them to serve as a reliable store of value.
As Black wrote
at Sovereign Man: "Rare coins
are excellent, traditional stores of value. But while millions of new ounces are pulled out of the ground year in, year out, there are only a certain amount of 1907-1933 St. Gaudens $20 gold pieces
in the world ... and they can't go back in time to make more of them."