Publish date:

Coin Redesign Act Means Bright Future

New law impacts cent to dollar denominations as well as others.
AuctionGavel

The coin market is on a roll, and the government is determined to ensure it continues. There will be change in your change due to the Circulating Collectible Coin Redesign Act of 2020. The act, signed by President Donald Trump on Jan. 13, 2021, will impact the cent to the dollar denominations as well as five-ounce and fractional silver bullion coins beginning now through 2030.

Very important, the law states: “the [Treasury] Secretary may develop and execute a marketing, advertising, promotional, and educational program [and] seek out appropriate cooperative marketing opportunities.” The law further allows the Secretary to “develop ancillary derivative products beyond traditional numismatic products.”

That suggests the future of coin collecting is bright. So is the present. Several large coin shows have been scheduled in hopes the pandemic won’t become a factor. Very significant rarities continue to be announced for upcoming auctions, a sign the market for such pricey items is present. Among these is a Brasher doubloon.

Dealers are indicating filling orders for gold coins continues to be a challenge. While gold and silver coins valued primarily for the intrinsic value remain in a reasonably tight trading range, the spot prices of platinum and palladium have spiked, pulling up the value of the few coins available in these metals. Copper likewise has spiked, possibly impacting cent production at some future point.

During December, the few coin companies with publicly traded stock were at 77.5 percent of their 52-week average. By mid-January, these stocks were at 80.9 percent. Crane Company, paper supplier to the BEP, rose from 82.9 to 90.7 percent during that one-month period.