Coins generally continue their slide lower
The value of most coins once again is disappointing, as all but very specialized areas of collecting declined in value as silver went below $16 an ounce. Gold did nothing,…
The value of most coins once again is disappointing, as all but very specialized areas of collecting declined in value as silver went below $16 an ounce. Gold did nothing, even as the dollar dipped in value against the Japanese yen. The price of First Spouse gold coins has not been adjusted recently, as only 75 trades were reported online as of Dec. 1 as compared to 120 one month earlier (and 60 two months earlier).
Better-date gold and silver American Eagle coins were flat lined, while the price declined on the more common material. Likewise, there has been no movement in scarcer commemorative coins for months, while the more common material continues to follow the declining spot price of their metal content.
Coin dealers are hesitant to sell much of their inventory due to the loss they would take, yet the value of much of that inventory continues to decline.
Few of the better coins are appreciating in value. Even among the scarce to rare coins, this scarcity being due to date or condition, the coins are primarily of interest to bargain hunters. This is unfortunate, since should the market suddenly rebound as it did in 2011, this will result in missed opportunities.
The market continues to be a bargain basement for dedicated collectors, while speculators remain in the more attractive equity markets. The bravest ones are buying Bitcoin, but that is very risky. It would be better if anyone with current Bitcoin profits moves them into rare coins.
This article was originally printed in Numismatic News. >> Subscribe today.
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