All markets must take a breather at some point. The business of coins is no exception. The supply of available material is a continuing but welcome problem for dealers as demand from both collectors and investors follows on an even keel. At the time this commentary was being written, the number of better-date coins increasing in price appeared to have reached a plateau – for the moment. I say "for the moment" because it is doubtful this is a signal the numismatic market rally is over.
The number of truly rare coins long-term owners have been consigning to auctions due to the profitable results is continuing. These sellers have confidence that their coins will command strong hammer prices in the current environment that I will add all collectibles are currently enjoying.
Precious metal investors appear to have backed off from gold and silver American Eagle coin purchases in favor of the surging market for equities, but this too may not last since both of these precious metals are once more advancing noticeably in market value against what is becoming a weakening dollar on international exchanges.
The only sector of the coin market that appears to be reasonably quiet is that of the extinct minor denominations. In this area, prices have remained stable, with more plus than minus signs; however, the velocity of merchandise turnover has not kept pace with the balance of the market. Considering these coins are often the realm of specialists and advanced collectors, this shouldn’t come as any surprise.
Several recent finds of previously unknown desirable US coins in both Europe and the United States have been reported by the mass media, an important way of catching the attention of the non-collecting public. Realistically the only way from here for coins is once again up.