No action in key dates as metals rise

Common date, common condition silver and gold U.S. coins had been appreciating in value in tandem with the accelerating spot prices of these metals. However, in the last few days, the two metals fell. Is this a short-term correction to an uptrend? It could be. This bears watching.

Better date, scarce and rare coins did not respond to the recent uptick in bullion. It is easy to say their prices are not dependent on bullion. That is true. But these prices often parallel rises in metals.

Right now, demand is lacking for many key date issues. Investors have shied away as well, taking their money into the more lucrative stock and bond markets.

A lack of any significant inflation is a factor. The downturn in the public’s interest in all fields of collectibles is another. Both of these will likely change at some point into the future, but the question of when remains.

The commercial end of the coin business appears to be healthy in the United States, but not so much overseas. The Numismatic Stock Index of publicly traded companies that are in the business of coins indicates U.S.-based businesses are trading at 79.34 percent of their 52-week highs, down a modest 2.82 percent from 82.16 percent of their 52-week highs one month earlier. The foreign-based companies that are publicly traded, however, are now at 68.4 percent of their 52-week average, down from 79.36 percent one month earlier and down an alarming 19.14 percent over the past three months. The continuing decline in the exchange rate for the U.S. dollar should be sending many coins overseas. These statistics suggest otherwise. The business of coins is a market to be monitored closely.

More Collecting Resources

• Are you a U.S. coin collector? Check out the 2018 U.S. Coin Digest for the most recent coin prices.

• Check out the newly-updated Standard Catalog of World Coins, 2001-Date that provides accurate identification, listing and pricing information for the latest coin releases.