Hunting for trophy coins can prove rewarding

There are men who have what some people call trophy wives. Another coin dealer recently pointed out to me that some coin collectors own what we could call trophy coins. These coins, of course, are the more desirable scarce or rare pieces many of us only dream of owning. That is precisely their purpose. Owning something that most collectors can only dream about is a mark of numismatic status.

If you examine current prices, you will learn many of these so-called trophy coins have slipped dramatically in value. This isn’t a time to raise alarm bells. It is a time to buy low, then if you wish at some later date, sell high. Consider this to be buying status at a discount.

Buying opportunities such as this don’t last forever, but the low prices do spook some potential purchasers as if this signals the end of coin collecting for all time. What it perhaps signals is a generational shift of ownership.

In general, though, the extremely high-grade scarce or rare coins are holding or increasing in value. The price of coins in specialized areas such as large cents, Capped Bust half dollars and other perennial favorites remain bullish.

Most Morgan and Peace silver dollars are soft, as are all generic gold and silver coins.

There are signs of some appreciation beginning to appear in areas that are less than trophy level. This is a good time to go after the top coins on your want list, not the bottom ones.