Pride of ownership. Bragging rights. Your own personal and private museum. All of these thoughts come to mind when a collector collects. How a person gets to the point where something becomes collectible rather than just being an object or is viewed as an investment is the question.
Right now, the business of coins has drawn a significant number of investors and speculators into our realm. These people are welcome. They drive prices up by offering additional demand to a relatively fixed supply of most coins. Will some of them take the next evolutionary step and become true collectors is the question. In past business cycles that have impacted coin collecting, this has been the scenario. It is likely that this will repeat once again.
Look at the attention being drawn to the spot price of gold and silver. Look at the headline-grabbing rarities that have recently reached the auction block. Look at the surge in activity on the internet. Some of the internet activity has of course been generated by collectors who can’t visit a coin show or store during the coronavirus pandemic, but it also helps update coin collecting into a 21st century buying and selling mode.
The overall trend appears to be focused on either very high quality or on intrinsic value. This leaves many of the coins that don’t fit well into either of these two parameters in the lurch. Prices remain soft for many collectible but generally available late 19th and 20th century coins. Don’t trivialize these middle-of-the-road collectibles. They are the true bargains of today’s otherwise hot market.
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