Bullion Demand Strong Despite Price Dip
2023 gold and silver American Eagle bullion coins. (Images courtesy United States Mint.)
A Professional Coin Grading Service About Uncirculated-55 1874-CC Arrows, Seated Liberty dime with green CAC sticker that previously sold for $$97,750 in 2009 will be offered for an estimate of $125,000 at a July 27 Legend Rare Coin Auction. This once again demonstrates truly rare coins should be considered an asset class. Traditional rare coins continue to draw significant attention and in some cases record prices.
They are no longer alone. The Physical Cryptocurrency Session of the Stacks’ Bowers Galleries June 2023 Showcase Auction realized $621,590. The 12.79 Bitcoin face-value, valued at about $320,000, realized nearly 200 percent of that face value. The firm will offer a 2013 Casascius 10-Bitcoin in its upcoming August Global Showcase sale.
The modest recent decline in the spot price of gold and silver has affected values for bullion and bullion-impacted, intrinsic-value coins; however, the demand for these coins continues to challenge dealer supplies. The interest in our ever-changing quarters remains an important entry point for new collectors, while precious metal coin investors and speculators are adding to the collector base once they learn to seek scarce to rare coins as a potential investment. Attendance at recent coin shows suggests there is no slowdown in the enthusiasm among active collectors. It is more challenging to monitor attendance at local coin clubs, but the few that can be followed indicate there is no slowdown here, either. There are minor areas of weakness in the market, but these are almost entirely in less-collected areas. Astute buyers will find bargains there.
There is much anticipation as the American Numismatic Association August convention prepares to be held in Pittsburgh. Traditionally the coin market slows during the summer. This may not hold true this year.
