Business of Coins Continues to Innovate

The interest in coin collecting continues to expand despite inflation, economic uncertainty and a jittery stock market. The spot price of gold and silver has impacted interest in bullion and bullion-impacted coins, but this isn’t the only reason. Another reason for this expansion is more people considering collectible coins to be an asset class. There is even more to it than that. The marketing of coins as both a hobby and as an investment has changed.

Coin dealers are becoming innovative, looking for ways to reach out to the non-collecting general public while retaining their existing clients. We have recently seen auction houses offering crypto currencies and coin shows that segment the bourse between commercial and retail activity. This bourse segmentation allows for both commercial and pedestrian business without the problem of a dealer ignoring one customer due to wholesale sales and the like.

Numismatic Guaranty Corporation recently announced it will partner with live streaming shopping platform Whatnot “to bring coin collectors more fun and exciting ways to connect with their communities, learn about the hobby, and grow their collections and businesses.” Whatnot is the largest domestic live streaming shopping platform, which in turn means Whatnot can reach more potential coin collectors.

The hobby of coins is continuing to think beyond the proverbial box, which is a good thing. The more interest in and competition there is for coins, the more it may encourage those who own particularly desirable coins to offer them into this thriving and likely profitable market.