How many new buyers are bidding at auctions? There have always been collectors competing alongside dealers at auctions, but the sheer number of bids and bidders now being seen suggests inexperienced investors who are not necessarily planning on becoming coin collectors are looking for alternatives to the now downtrodden equities market, viewing coins as an appreciating commodity.
On Feb. 24, just as Russia invaded Ukraine, “investors piled into safe haven assets,” according to CNBC.
The price of gold, silver and platinum coins – regardless of if they are bullion, circulation strike or non-circulating legal tender collector issues – rose dramatically as the war, coupled with inflation and the ever-looming coronavirus continue to encourage non-collectors to consider coins as a safe haven.
Proof sets from the 1990s forward that contain silver-composition coins are the only proof sets that have been rising in value recently. Silver American Eagles can be challenging to find. The number of coins available from usually reliable larger coin dealers is often lacking compared to inventories of even one year ago.
On March 1, Certified Acceptance Corporation announced that it is unable to process customer orders using their regular tier service, and for that reason plan to suspend accepting further submissions for that service until April 1.
As much as collectors might not like the additional competition for what they seek to acquire, the sheer number of new collectors is a breath of fresh air. The hobby is in better than in good hands—the hobby is in strong hands.