I thought I would take a look back two years to when all the financial turmoil began. I noticed that gold is still up about 20 percent, while silver and platinum are down roughly 20 percent. The Dow Jones index is down around 30 percent, with the rest of the world’s stock indices negative to the tune of 30 to 50 percent. Real estate is down 20 to 40 percent depending on location.
Coins, other than modern Mint product, are up anywhere from a few percent to an average of 30 percent with many items nearly doubling. Collectible gold coins are up 40 percent and bullion coins nearly 30 percent. Silver coins are still actually up about 20 percent with bullion down as much.
If you are wondering why, think portable, hideable wealth, enjoyable, challenging, historical and art, all wrapped up into one neat little package.
We have had reports of the first million dollar Morgan, the finest known 1893-S. Many of the DMPL graded coins continue upward, especially the elusive 1895 New Orleans and San Francisco duo.
Mint and proof sets continue their downward slide with 63 price reductions and only three increases over the last two weeks. These are entry level items and the entry level collector is either sitting pat or their budget is being drained by new Mint issues, which for some reason we all think we must have all of in the early stage of our hobby.