Silver, gold and platinum are higher than they were a month ago. Silver is strongest, up to $16.84 compared to $16.24 last month. Gold is up $4.90 and platinum $2. These aren’t big numbers, but they are positive.
It’s no secret there have been more sellers than buyers in many areas of coin collecting for some time. The market continues to be soft for that reason.
The glut of coins in some areas was well illustrated when in early June a significant number of MS-70 certified 2015-W Jacqueline Kennedy First Spouse gold coins were offered simultaneously on eBay. The results were predictable, with the coins selling for more than $100 each below their previous prices.
The Royal Canadian Mint recently reported a 57 percent drop in bullion coin profits. The U.S. Mint is facing weak demand as well. Coin dealers are pricing their wares properly. However, buyers appear to be waiting for the market to turn positive before they act.
Collectors should remind themselves that they are beneficiaries of lower prices. They should be buying before investors return. Currently, investors are being dazzled by tech stocks.
This article was originally printed in Numismatic News. >> Subscribe today.
More Collecting Resources
• Download The Metal Mania Seminar with David Harper to learn more about the metals market.
• Keep up to date on prices for Canada, United States and Mexico coinage with the 2018 North American Coins & Prices guide.