The uneasiness over the economy has sent the prospect of gold soaring. The price of gold is taking one of the biggest jumps in decades. The value of gold has risen more than $80 an ounce bring the total of gold to an estimate $850, today. That spike is sending investors to gold brokers seeking out actual gold coins over certificates.
Financial advisor Bill Hall says it's typical to see an increase in commodities. "In an economic down turn. History has typically said gold is typically a safe place to go because it does represent a physical commodity you can do something with," Hall said.
Gold broker Tom Stout has seen the number of investors spike because of a lack of confidence in the market place. "We started seeing availability problems people are wanting to buy gold physical gold. Yet it's unavailable on the market because those who have invested want to hold on... My commodity in my hand not going to give it up at any level," he said.
While gold coins and certificates of gold are considered the same thing a lot of people are finding more confidence in the coins. "That's a safe haven for money until the market squares around that may be hanging up there in the high 800 880 range," Hall explains why so many are turning to coins.
Stout says a lot of people like having a tangible item, "You got a piece a paper in one hand and something real in the other hand that's why I say people would rather hold that real item as their investment instead of paper," he said.