Gold reached $2,069.40 per troy ounce in early March and has now decreased by 8.2 percent for the year (as of Sept. 20 when this commentary was written), making this gold’s worst performance since 2015. The spot price of both bullion and intrinsically impacted gold coins has followed, even though demand for these coins appears to have remained steady. The trading range for gold remains between about $1,650 and $1,800 an ounce. Gold American Eagle coins typically sell at a premium, but that isn’t true of all gold coins in general. The spot price of silver and platinum have also declined from their highs, but not as drastically as their yellow metal cousin. Once again, collectors and speculators continue to treat this as a dip and a buying opportunity rather than as a calamity.
If you are looking for a quick return on a coin purchase, ironically, you should look to Australia. Due to the recent death of Queen Elizabeth II, there has been a rush to purchase the Australia 2012 Red Poppy and 2013 Purple Coronation $2 coins on which she appears. Domestically, the former coin has recently jumped from $150 to $370 AUD, while the latter has increased from $310 to $400. Nostalgia sells!
It is important to note that many of the buyers are new to coin collecting. The entry level for many collectors in the U.S. is through recently released U.S. Mint products. These products continue to sell briskly, not only upon their release, but in the secondary market as well.
Overall, the market for collectible and for intrinsically impacted coins continues to move forward. The market for rare coins, especially through auctions, remains downright hot!