Penny Auctions like HappyBidDay Start to Auction Gold and Silver Bars for Just Pennies on the Dollar
In the past few months, several reputable penny auction sites like HappyBidDay.com have embraced the increasing value of precious metals by starting to auction off gold and silver in the form of coins and bullion.
(PRWEB) August 17, 2011
Gold and silver is becoming attractive to most consumers who want something tangible to invest in rather than an idea that could go down flaming with the stock market. This is why buyers are rushing to penny auctions. In the past few months, several reputable penny auction sites, like HappyBidDay.com, have started to auction off gold bars and sliver bars for just pennies on the dollar.
Since late 2008, the value of gold has doubled, according to the Boston Globe, and throughout history, gold has always been the most popular investment of all the precious metals. As the United States economy, stock market and government debt has taken quite a turn, investments in precious metals, specifically gold and silver, have increased.
Just like Bob Dumont of New Hampshire, investors and buyers of all economic statuses are flocking to this modern gold rush: “I just keep seeing it going up, and all the speculators keep saying it’s going to go up … and probably even more,” Dumont said. “I missed the boat when Microsoft’s stock was low. I missed the boat when Apple’s stock was low. I’m not going to miss the boat for gold.”
Although the focus might be on gold right now, the International Business Times is noticing a similar situation developing in the silver market. Standard Bank said, “If gold should come off in the short term, we could see silver hit harder.”
Because bullion bars cannot be purchased over the counter in the US like in other countries, penny auctions have taken advantage of the increasing value of gold and silver as well as the growing demand. Generally, these penny auctions feature gold bars or silver bars that are between 2 grams and 1 ounce because they’re harder to come by than gold coins or silver coins. It’s best to find sites that offer gold bars that are .9999 fine, (which according to GEM Affair, means each bar is 24 karats containing 99.9 % pure gold) or pure silver bars marked .999 fine.
Following HappyBidDay‘s lead, you’ll start to see more penny auctions popping up that feature gold bars and silver bars, and some are even beginning to deal exclusively in precious metals. If you’re looking to follow the trend of the increasing value of gold and silver, or you’re simply worried about the decreasing value of paper currency like millions of other Americans, try bidding on some specialty bars at a penny auction site that will save you a lot of money and be a great investment in return.
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