The latest surge in the coronavirus pandemic may give the bullion and bullion-impacted sector of the market jitters, but it doesn’t appear to be impacting the collectible and rare coin areas as much, if at all. The stock market is overreacting to the latest surge at the time this article is being written.
Gold and silver spot prices are slipping rather than rising due primarily to investors seeking comfort in the U.S. dollar rather than in commodities. A strong U.S. dollar is bearish for precious metal prices as it makes them more expensive for buyers who hold other currencies. This may have impacted the price of bullion coins and to a lesser degree intrinsic-value-impacted yet collectible coins, but the broader market for coins has yet to blink. There is no indication of relatively available, scarce, or rare coin prices weakening.
California is moving back towards requiring masks be worn, but the upcoming Long Beach Expo Coin, Currency, Stamp, and Sports Collectibles Show still plans to re-open (perhaps this is a re-awakening?) in September regardless of what the virus may do. Likewise, the upcoming American Numismatic Association convention in outside Chicago is planned to go on as planned.
Despite some challenges to the value of gold and silver coins there is an upside – this being the recent release of 2021-W silver American Eagle proofs, a limited-edition redesigned product limited to just three coins per household if purchased directly from the Mint.
The next test of the rare coin market will come through auctions held in conjunction with the ANA show. Expect them to perform well, likely strong.