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Recent proof sets get small boost

coinmarket0103Several dealers have raised the bid price modestly for relatively recent proof sets. Overall the prices for U.S. Mint products remain stagnant and near wholesale levels. Retail buyers for these products are inexperienced marginal collectors buying on cable coin networks and other mass marketing outlets. Many of these buyers will become disappointed and leave the hobby once they learn just how shallow the secondary market is.

The double-edged numismatic market sword continues, the truly rare coins going in one direction while most of the remaining market follows the spot price of gold and silver. Most recently this has been a downtrend. The severe drop several weeks ago impacted the price of many coins. However the price has since leveled off. The spot price of copper has been rising, but this hasn’t really helped copper coins other than copper wheat reverse Lincoln cents sold in sealed bags as a copper commodity.

The market for scare and rare coins remains healthy, but flat-lined, with interest in better date, better condition $20 gold recently due to a major offering of these coins at an auction in Europe. The value of more common double eagles is consistent with lower denomination gold coins, all of which continue to inch downward due to inactivity in the gold bullion market and a lack of interest in these coins among investors. Perhaps politics shouldn’t play a part in the hobby and business of coins, but the impact of the presidential election continues to drive equities higher at the expense of most commodities.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 

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