'Frothy Bull Market' for Coins
By Richard Giedroyc
The market for coins is doing well despite the coronavirus shutdowns that have decimated so many businesses. Brick-and-mortar coin shops without any internet presence of consequence have felt the impact; however, those with a strong internet following have continued to prosper.
As a nation, we are beginning to re-open our stores to the public. This includes coin stores. There is a certain element of collectors who have never been comfortable buying online, preferring to see what they may purchase rather than a scan of the coin. As stores, coin shows, and coin club meetings begin to re-open it will be interesting to see how much more of a surge in sales we see develop as reluctant online buyers re-enter what is already a frothy bull market for coins. This doesn’t suggest coin prices have already risen so dramatically that there aren’t excellent values still to be had.
The train has certainly left the station for certain scarce to rare coins, but there are entire series such as half dimes, Peace silver dollars, $3 gold, and “classic” commemoratives that are still market laggards. Just because the coin you wanted has increased in price doesn’t mean you should hesitate to buy it. Right now, the only direction that coin may go is likely up – further.
The bullion and bullion-impacted area of the business of coins may slow or decrease as investors and speculators trickle back to equity markets, but coins have once more emerged as a healthy and expanding hobby.
