The exchange rate for the dollar has been weakening on world markets. This in turn is making the spot price of gold and silver cheaper to buy in certain foreign currencies. Couple this "downdraft" with less fear of continuing political instability and economic distress domestically, and the results for the numismatic community is a decline in the value of bullion coins and all generic coins that are bullion price impacted.
The same cannot be said for the remainder of the market, where demand continues to strain supplies. The interest in collectible yet generally available coins continues almost uninterrupted. Likewise, interest in collector versions of gold and silver American Eagle coins remains strong.
Demand for other recently released non-circulating legal tender issues is challenging supplies, resulting in some surprisingly strong secondary market prices.
Coins not offered for sale in years continue to become available in the scarce to rare sector of the market. This is an indication that the most serious (and well-endowed) portion of the market has staying power, even as the entry level bullion market now sits on shakier ground.
Despite the strong prices for these scarce to rare coins being realized at auctions as well as over the counter, there is room to grow and opportunities to be had. There are collectors who have hit hard times and need to sell, but most of the selling appears to be profit-taking rather than a need to raise funds.
This is a market that has legs, and those legs are still running rather than walking.