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Coin Demand Defies Precious Metal Trend

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This commentary may have been written during late December, but it is safe to say there is keen interest already being focused on the upcoming Florida United Numismatists convention in early January. Simply put, expectations are high. It does not, at the time this is being written, appear the show might be adversely impacted by the ongoing coronavirus pandemic. This show will likely be a barometer for the state of the coin market throughout the winter and likely into the early spring season.

This comes on the heels of the news that a 1907 Saint-Gaudens Ultra High Relief $20 double eagle certified to be Professional Coin Grading Service PF-68 with CAC sticker recently sold in a private transaction for a record-setting $4.75 million. The appetite for truly rare coins among serious collectors with deep pockets appears to continue to be insatiable.

The balance of the market continues to thrive as well. Gold and silver in precious metal form continue to move south, but you wouldn’t know it from the demand for bullion and bullion-impacted circulation strike coins of the late 19th and early 20th centuries. Better condition circulation strike coins for the same period continue to move quickly as demand outstrips supply.

The all-important Morgan silver dollar market is firing on all cylinders, although there is somewhat of a lack of interest in Peace dollars. Recently issued U.S. Mint collector-only coins are holding their own, but there appears to be a pause in price appreciation here. Classic commemorative half dollars are showing signs of upward price movement in MS-65 and higher grades. This is the kind of market we all like to see: healthy.