Few coins may be appreciating in value, but both the business and hobby of coin collecting remain steady while equities and precious metals continue their roller-coaster ride. The U.S. numismatic-related stocks tracked in the Numismatic Stock Index dropped from 62.6 percent one month ago to 55.8 percent of their 52-week average on Dec. 10.
Stock markets worldwide haven’t done any better. Gold and silver coins, be they of intrinsic or of collector value, continue to be valued horizontally. However, there has been some modest vertical (and upward) motion in some of the scarcer grade and date copper coins, this being particularly noticeable in large cents. Large cents, of course, are a very specialized area that can be difficult to evaluate since toning and color play a big role in determining the value of individual examples.
Silver bullion has been trading in a narrow range, which has been mimicked by most silver coins, be they bullion impacted, collectible, or scarce to rare. Gold bullion and gold coins remained surprisingly resilient against the U.S. dollar and the failure of the British Parliament to vote on Brexit legislation. Yet it doesn’t appear gold coin investors are ready to return in significant numbers to the coin markets. Without an influx of investors, this leaves active collectors within a comfort level with prices being perceived as reasonable. While everyone hopes coins they already own will increase in value, there appears to be little concern that rising prices might become a challenge to future buying. I realize I may sound like a broken record when I repeat that this is a great time to buy, but as far as I’m concerned, the only way to go is up.
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