The current state of the collectible coins market can be summed up by the Nov. 5 U.S. Mint report. The report states that the Mint received the “highest website traffic we have ever experienced.” Non-circulating legal tender coins made for collectors rather than to be used as money usually take a back seat to business strike and bullion coins. Not this time. Demand surpassed supply for privy-marked proof 2020-W End of World War II 75th Anniversary American Eagle gold and silver coins. It took seven minutes for supplies of the one-ounce .9167 fine gold $50 coin to sell out (mintage: 1,945 pieces) despite their hefty $2,600 price tag. Sales took place electronically since phone orders aren’t being taken due to coronavirus concerns.
The news that Pfizer may be close to a vaccine for the virus impacted bullion and bullion-impacted coins to the minus side as just about anything relating to the “stay at home” declined in value. While this might signal a buying opportunity as we seek a bottom and new trading range, the frenzy over scarce to rare coins continues. Among the latest headline-grabbing rarities soon to be offered at auction is a Proof-63 1879 Flowing Hair $4 Stella. The classic rarities appear to just keep coming!
Should the Pfizer coronavirus vaccine prove to be successful, the next question regards if coin shows and coin club meetings will resume or if there is some new normal out there we have yet to recognize. The overall aspect is one of optimism, with interest in both the hobby and market for coins appearing to be increasing.