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Many coins too closely tied to bullion moves

Gold bullion and modern coins including American Eagles and First Spouse issues continue to sell at values near the spot price of gold. This is a thinly traded market. Gold continues to slide along just below $1,200. Forecasts of a bullion bounce have not yet come true.

Potential gold coin sellers appear to be holding their ground, but since inventory held for a long time tends to have been purchased when prices were higher, these items rarely sell.

For coins in general, there continues to be an overall pattern of almost an equal number of winners and losers, some coins appreciating in value while others have declined. Overall, this equates to a net market that is simply flat.

Silver composition coins continue the pattern. Top condition doesn’t necessarily assure a coin will rise in value in this unpredictable market. There is plenty of supply except, as might be expected, for truly rare coins.

Even among rare coins, only a modest number of buyers can be found. Demand is lacking in many areas of the market. A lack of interest rather than the “word” demand may be a more appropriate description of the present state of things.

The value of copper coins has been impacted as well, but there appears to be better focus among those specializing in this market.

Proof sets, mint sets, and commemoratives are dead on arrival, with almost no interest in past sets or individual pieces. But gift-giving season is almost here.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 


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