It is a typical slow summer day as this column is being prepared. The prices of any coins impacted by their intrinsic value continues to flatline as gold and silver meander at recent lower levels.
The autumn season for coin collectors typically kicks off with the American Numismatic Association convention each August. This year the starting date is Aug. 14, which is nearly at hand at this writing.
Collectors recognize that the current price corrections being experienced almost across the board is a buying opportunity, while astute coin dealers are careful to ensure their inventory turns over quickly, allowing them to buy and price new inventory at current price ranges rather than to be saddled with overpriced coins that won’t sell unless the precious metals markets rebound.
Since the culprit behind the low spot price of gold and silver appears to be a strong U.S. dollar on the world market, it is unlikely this will happen in the short run. This, of course, also encourages speculators and investors to remain on the sidelines. Without their fueling an increase in demand for better coins, the current market conditions will likely continue.
There is one recent development worth mentioning here. There have been some notable price increases in specialized areas of pre-1964 collectible coins certified to be at least Mint State-66.
For modern coins, the rage is getting a -70 on new issues. Now collector coins are taking, shall we say, Route 66? What’s next?
This article was originally printed in Numismatic News Express. >> Subscribe today
More Collecting Resources
• Are you a U.S. coin collector? Check out the 2019 U.S. Coin Digest for the most recent coin prices.
• Download The Metal Mania Seminar with David Harper to learn more about the metals market.