Doesn’t Hurt to be Gold Right Now

The parade of truly rare coins selling privately or crossing the auction block during the past year appears to be never ending. Some of these coins are rare dates, while others are grade rarities. The latest in this ever extending list is the famed "Hawaii Five-O" coin, that being a 1913 Liberty Head nickel. The sale of this coin is important to the hobby since many non-collectors understand this specimen starred in a well-known television detective show. The coin was recently reported to have been brokered privately through Stack’s Bowers Galleries for more than $4 million. 

Perhaps not quite as famous, but still an important rarity, is an 1870-CC $20 double eagle graded PCGS AU-53 joining the parade, having been bid to $1.62 million in a Heritage Auctions Nov. 15 sale. Heritage last sold an example of this date seven years ago, that coin realizing just over $400,000. 

Not all coins performing well need to be gold, but it doesn’t hurt. The spot price of gold has been rising, in part due to U.S. inflation and in part due to a recent gold buying-spree in India linked to the Diwali festivities. Yes, gold has been called “a rock” by some financial consultants, but remember it is real money with its value coming from its use as such. 

Bullion, bullion-impacted and generally available yet collectible gold coins are following the metal’s recent upward movement. (It should be noted that silver and silver-composition coins are likewise performing well.) Gold may shine, but right now so does the entire market for coins.