The Lombra Report

Download the exclusive report detailing a 44-year study.

Earlier this year, researchers at Penn State University completed an independent study focusing on the long-term investment performance of gold bullion and U.S. rare coins. The findings may surprise you — and they are detailed in the Blanchard-exclusive report available for free download below.

Here are key takeaways from the study:

  • Over the last 44 years, high quality coins and stocks had the highest average annual returns.
  • At the same time, the annual returns on stocks, gold, and coins were the most volatile.
  • The correlation of the return on coins with inflation over the last 44 years is well above that of other assets considered, and twice that of gold; thus, the data support the fact that rare coins are a better hedge against inflation than gold. More generally, hypothetical portfolios containing stocks, Treasury bills and bonds, and a modest proportion of rare coins, generally perform somewhat better than those without coins or those with a modest proportion of gold, over the past three to four decades and for various sub periods. These findings also imply that when inflation turns up, the response of coin prices could well be quicker and larger than the returns on most other assets.
  • The results continue to suggest that over the longer run, including rare U.S. coins within an existing portfolio could improve investment performance. This is especially noteworthy given the balance of risks confronting global equity markets in 2023 and beyond.

Read the details now.

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