Coin Market Thrives Amidst Economic Uncertainty

If you had invested in publicly traded numismatic company stocks, your U.S.-based companies would have been trading at 73.6 percent of their 52-week highs during mid-February, then risen to 75.9 percent of their 52-week average during mid-March. Foreign-based numismatic company stocks were at 72.4 percent of their 52-week highs during the same period, a modest increase from 72.3 percent one month earlier. The numismatic stocks clearly outperformed the Dow Jones and NASDAQ averages for the same time period, both indices being in correction territory. During the same period, gold increased from about $1,830 an ounce to about $2,050, while silver increased from about $23 to $26 an ounce. These are just a few statistics demonstrating the strength of the current bull market for coins.

The numismatic auction internet site Sixbid.com recently reported “more than $1 billion in 2021” in total hammer prices of auctions listed on the site. Sixbid added, “More than 50 million calls of coins and medals on Sixbid have contributed to this record.” It wasn’t too many years ago that collectors were asking when they would see the first coin sell at auction for more than $1 million.

Economic uncertainty may be real, but so is coin collecting.