The last U.S. penny has been struck after 232 years in circulation. Experts believe these final pennies could be worth hundreds of thousands of dollars due to collector demand. Ending production will save the U.S. Mint $56 million annually, as President Trump criticizes the penny’s high production cost.
Pawn shop owner Rick Harrison predicts the nickel may be the next coin to disappear, as production costs exceed face value. The shrinking purchasing power of the dollar highlights the need for savvy investors to protect wealth from inflation. Gold has surged over 50% in the past year, offering a safe-haven asset in uncertain times.
Gold’s potential as a hedge against economic uncertainties has caught the attention of investors, with gold IRAs combining tax advantages with the protective benefits of investing in gold. Real estate also proves to be a powerful hedge during inflationary times, with property values and rental income typically increasing as inflation rises. Investing in real estate can be time-consuming, but platforms like Arrived allow you to invest in shares of rental homes for as little as $100. For those looking to diversify, First National Realty Partners offers commercial property investments with a minimum of $50,000, leased by national brands like Whole Foods and Walmart.
Alternatively, consider investing in post-war and contemporary art through platforms like Masterworks. With renowned artists like Picasso and Banksy, investors can buy shares of blue-chip artwork to diversify their portfolio. Accessible and effortless, Masterworks has distributed $65+ million in total proceeds to date.
While some prefer alternative assets like real estate and art, others may seek more traditional investments. Regardless of your choice, diversifying your portfolio can help secure wealth during periods of high inflation. Masterworks and Arrived provide accessible options for investing in real estate and art, catering to a wide range of investors. 1. The U.S. economy added 850,000 jobs in June, exceeding expectations. The unemployment rate rose slightly to 5.9% as more people entered the workforce. This is a positive sign of recovery following the pandemic-induced recession.
2. The Tokyo Olympics will ban spectators due to a surge in COVID-19 cases. The decision comes after Japan declared a state of emergency in the capital. Athletes will compete in empty stadiums to minimize the risk of spreading the virus.
3. Scientists have discovered a new species of ancient human in Israel. The “Nesher Ramla Homo” lived alongside Neanderthals and modern humans 140,000 years ago. This finding sheds new light on the evolution of our species.
4. The European Union has approved the use of the Pfizer-BioNTech vaccine for children aged 12 to 15. This decision will help protect younger populations against COVID-19 as countries work to achieve herd immunity. Vaccination efforts are crucial in ending the pandemic.
Read more at Yahoo Finance: Rick Harrison says final US pennies may fetch 6 figures each, says nickel is ‘next to go.’ Why that’s a big red flag