By Richard Giedroyc
First we had the coronavirus. Then we had the economic shutdown to try to stop the rapid spread of the disease. Now we have a circulating coin shortage. The first two, the disease and its economic fallout, each resulted in an uptick in people wanting to collect or invest in coins. The coin shortage has only recently been announced, but logic indicates that you may want to fasten your seat belt.
The market for coins, be it hobby or investment, is likely to be bumped up yet another notch by the announcement of a nationwide shortage of new coins for circulation. Yes, it appears coins have joined toilet paper and medical masks as being a scarce commodity. Some stores are now asking people to give exact change when paying cash since the change they otherwise get back might be in the form of candy or gum.
As Federal Reserve Chairman Jerome Powell said on June 17, “… the flow of coins through the economy has gotten all – it’s kind of stopped!”
With the spot price of gold and silver bullion influencing the bullion and bullion-impacted sectors of the coin market, the only way appears to be up for the collectible, scarce to rare, and even the commemorative coin segments of the overall market. We are riding a crest that hasn’t been seen in years. Enjoy the hobby, but enjoy the expansion of that hobby and the dramatic increase in the value of many coins as well.
As an Amazon Associate, Numismaticnews.net earns from qualifying purchases made through affiliate links.