Coin dealer Mike Camardo recently commented on Facebook, “Struggling to feed the beast the past couple [of] weeks. I’m buying (almost) anything and everything.”
Coin dealer Robert Ranford added, “It seems as though the #SilverSqueeze might have actually accomplished what we failed to do for years… Why are they [COMEX and LBMA] flat out admitting to not having the physical [silver] on hand?”
Consider former U.S. Mint Director Ed Moy’s recent comment: “When demand for the mint's coins goes up, it means that all the coins that have been produced are not enough to satisfy demand. Therefore, the mint needs to inject additional supply,” as well.
You get the picture. This is a coin market on fire. Moy described the demand for bullion coins to be “off the charts.” There is almost no area within the U.S. coin market, be it extinct minor coin denominations, silver dollars, bullion, older commemoratives, proof and mint sets, or scarce to rare coins, where demand isn't outstripping supply.
Coin clubs are beginning to hold meetings once more. At the time this commentary was being written, the Central States Numismatic Society convention was still planning to take place in April, although that may change. Other coin shows are being planned as the pandemic appears to be lifting.
Part of the demand is due to fear of inflation, economic uncertainty, or in anticipation of policies the new presidential administration will pursue. Even if these were to be the only reasons for the increase in demand, which they aren’t, some of these buyers will likely become collectors. While the general public’s interest in antiques continue to decline, their interest in coins continues to be gaining in popularity.