Everyone loves a parade. Once a parade is over everyone goes home, but they had a great time even if they were an observer rather than a participant. The parade of truly rare coins crossing the auction block this year is amazing. The latest in what is becoming a really long parade is the prototype 1794 No Stars Flowing Hair dollar.
While many people will watch what happens, the number of bidders is minuscule in comparison. It doesn’t matter. The continual series of all-star rarities that have been grabbing headlines not only in the numismatic but in the general media since the beginning of the year is helping draw new people into the hobby. This is one of several coincidence market indicators. Another is that Certified Collectibles Group is not only hiring, but CCG is willing to pay a signing bonus.
This is a market in motion.
Gold and silver spot prices have reached a plateau and appear to remain in a steady trading range. While investors may not be thrilled with the performance of the metals, this continues to encourage buying of not only bullion coins, but bullion-impacted coins, and made for collector bullion coins, mint and proof sets, and even modern commemorative coins. Older mint and proof sets are rising and falling as does their intrinsic value, but the interest in sets as they are minted once again encourages speculators to become collectors.
While antiques and other collectibles continue to be out of favor compared to their past performances, the hobby and business of coins is expanding.