Major Conventions, Auctions Supporting Strong Market

The coin collecting hobby continues to steamroll, with one successful major convention after another demonstrating the keen interest in numismatics that is showing no signs of slowing. The recent Long Beach, Calif. show was well attended, with dealers reporting strong sales. There are possible speed bumps ahead. The spot prices of gold, silver, and platinum have fallen from their recent highs, impacting bullion and intrinsically valued coins. Much of this decline has to do with the value of the U.S. dollar on world markets. The recently announced price of $80 for Proof 2023 Silver American Eagles may appear to be steep under such circumstances. Nonetheless there are indications new mint products will continue to sell quickly, with reasonable secondary market value increases afterwards. How quickly the new SAE proof issue sells out will be a better indicator of current market conditions in this sector. Dealers continue to be challenged to keep sufficient stock of such products. The truly rare coin market will once more be put into overdrive as Stack’s Bowers Galleries prepares to offer the James Allaire Millholland collection during the upcoming Whitman Coin and Collectibles Spring Expo. This is an unusual collection of about 550 coins in that the collection was assembled between the 1860s and 1894 and left undisturbed since that time. It is reported the coins have unusually nice original toning. The rare coin market thirsts for fresh material such as this. Investors continue to take an interest in coins either as a short-term safe haven against what is proving to be a volatile stock market or as a long-term investment in what is increasingly being seen as an asset class.