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Full Steam Ahead for Bullion Market

By Richard Giedroyc

Collectors and dealers are enthusiastic about the robust market for coins. The coronavirus may have slowed things down, but dealers found ways to satisfy collector demand even during the period in which non-essential businesses were shuttered. I am aware of one case (there likely were others) in which a coin dealer in a brick-and-mortar store declared the facility to be essential as a financial institution because he was purchasing scrap gold and silver. No one challenged him. For the most part, both collectors and dealers are only now getting back into the full swing of things as coin clubs, shows and public auctions are increasingly being permitted once more, depending on the state in which you live.

The rare coin market never slowed down during the shutdown. Likewise, the bullion and bullion-impacted market has been moving at full steam ahead. U.S. Mint issues, always a questionable area, is inconsistent, with some issues increasing in value in the secondary market while others decline. The collectible yet at least somewhat available middle area of the market appears to have room to grow. Relatively scarce but not truly rare coins remain mixed, with some issues increasing in value while others decline.

If a coin remains in inventory for an unsatisfactory period of time, dealers won’t hesitate to discount its price in order to turn over the merchandise. For this reason, there are many good buys yet to be had for anyone who is watchful. This is a strong collector market that shows no signs of slowing.

 

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