It appears the news is continuing that as the price of gold and silver go, so goes the coin collecting market. Gold is dropping toward $1,200 per ounce, while silver heads toward $15. Platinum struggles to hold above the $800 an ounce level. Subsequently, all bullion-related and common yet collectible coins composed of any of these metals continue to remain at obtainable levels.
An 1804 Draped Bust silver dollar recently realized $2.64 million at auction. This may appear to be a lot of money, but considering the same coin sold previously for $3.8 million, this indicates even truly rare coins are not impervious to the current coin value slump.
The U.S. portion of the Numismatic Stock Index shows numismatic and bullion coin related stocks are now trading at 68.58 percent of their 12-month average, down from 72.8 percent one month earlier. NSI world stocks are down to 71.76 percent of their 12-month average, down from 73.84 percent one month earlier.
Forget the hand wringing over this news. I’ve said it before, and I will repeat it here. This is a buyer’s market. Take advantage of it. An upswing in the business of coins will come; the question is when, not if.
This article was originally printed in Numismatic News. >> Subscribe today.
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