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Coin Hobby Market Strongest It’s Been in Years

1804 dollar, courtesy Stack's Bowers Galleries.

1804 dollar, courtesy Stack's Bowers Galleries.

There have been some spectacular headlines recently. Among these are the sale of an 1804 silver dollar for $3.36 million. Utah Jazz owner Larry H. Miller’s coin collection sold overall for $23,636,374. Adding to this, it was recently announced that the January Florida United Numismatists auction will include one of only 12 known 1792 silver center cents. What this illustrates is the strength of the rare coin market. More important is that it demonstrates this to the general as well as the collecting public.

The hobby has two directions it can go: expand or contract. It will not remain static. News needs to be accessed, then determined when it will draw the attention of the public and when it will not. The 1921 Silver Dollar Coin Anniversary Act (H.R. 6192) has caught the attention of the coin collecting community, but it is less doubtful that another non-circulating legal tender commemorative will help expand coin collecting. On the other hand, the Coin Metal Modification Authorization and Cost Savings Act of 2020 (H.R. 7795) likely will grab public attention. This could be good news. The hobby is growing.

The bullion-impacted coinage sector has finally settled into a reasonable trading range, while, as was already reviewed, the heavy-hitting scarce to rare coin sector continues to skyrocket. All those coins in the middle – collectible but not particularly rare – remain for the most part in high demand.

Where are we? We are in the strongest coin hobby market we have seen in years. The key to continuing this success is expansion. Right now expansion looks promising.