New Legislation Could Bolster Hobby
The hobby may soon get an unexpected boost from Congress. Legislation is now being considered through which circulating commemorative coins and one-year type designs could appear on circulating quarters and half dollars. While the proposed legislation has other parts that will intrigue collectors, getting the non-collecting public to start examining the coins in their pocket is the best way to get them interested in the hobby. The average person may never pay attention to the dates and mintmarks on what’s in his pocket, but any change in designs will likely catch his or her attention.
The price of bullion gold and silver American Eagles took a hit as this commentary was being written, this being due to a precious metal market correction due to the dollar being bolstered on international markets. Likewise, this will impact collectible yet intrinsic value coins. If you are selling, this could be a problem, but any momentary price decline is also a buying opportunity.
The scarce to rare sector of the market is going in the other direction.
As Numismatic Guaranty Corporation (NGC) President Mark Salzberg said in a Sept. 24 My Friends and Colleagues in the Collectibles Community, “… the collectibles markets have not merely survived the COVID-19 crisis – they have thrived … Collectibles now regularly make headlines in the Wall Street Journal, New York Times, Forbes and other storied publications.”
A number of significant rarities will be selling at public auction in the near future. The hammer price of each will likely be announced in the general press, encouraging further interest in coin collecting.
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