The overall coin market remains a mixed bag. There are some very high-end coins that are appreciating, but these are few with no definitive group moving up in value. Not only do these coins need to be rare, but they must also be one of the finest known of these rarities as well to command such premiums. Coins that have been certified, then re-certified with CAC stickers tend to sell best. However, there appears to be a glut of higher-end coins being offered in the market.
Bullion continues to disappoint, as do generic coins and American Eagles that are impacted by the spot price of gold and silver. Most modern coins are continuing to lose ground, with silver dipping below $16 an ounce, while gold continues its downward spiral towards the alarmingly low figure of $1,200 an ounce. Dealers are reluctant to lower their retail prices accordingly. However, if you sell to them, you’ll learn it is a one-way street in their favor. Barber and Seated Liberty coins are primarily flat lined, with proof and mint sets as well as virtually all commemorative coins being undersold. The brightest spot in the market is likely the early coppers, especially in superior conditions.
July and August are traditionally quiet months, with the American Numismatic Association convention kicking off the new season. Let’s see if the August ANA show will spark upward momentum.
This article was originally printed in Numismatic News. >> Subscribe today.
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