Coin collectors closed out 2020 with a bang. The market for coins did well, regardless of the area in which you may be focused. The areas that get the most attention are often those directly impacted by the intrinsic value of the coins, as well as the headline-grabbing scarce to rare coin arena.
Looking ahead into 2021, it appears the stock and bond markets will continue to produce discretionary money with which people will look to place elsewhere. Collectible hobbies are on a long-awaited rebound for this reason, coins being one of the most popular of these hobbies. Speculators and investors have jumped in as well, many of them attracted by the 24 percent-plus surge in the spot price of gold during the past year. Others have read the headlines surrounding very high profile coins that realized attention-grabbing hammer prices during 2020.
While purist collectors may not want to see these non-collectors in their marketplace, participation by these "newbies" helps bolster prices.
An indication that the overall market for coins is healthy is when non-circulation legal tender commemoratives meant primarily for entry-level collectors are selling well not only from the U.S. Mint, but in the secondary markets as well. Fear of the United States moving towards a cashless economy appear to be unfounded as well; the Mint increased its cumulative output of circulation-strike coins by a cumulative 16 percent from one year earlier.
The market for collectible and bullion coins remains strong and appears to be getting stronger, just as the global pandemic gets weaker. Yes, this is a good time to collect coins.