It appears on the surface that we may have conflicting trends. The rare coin market continues to rally. One of the more recent coins to sell was the only available 1822 $5 half eagle coin, which realized $8.4 million at auction (Two other examples are impounded in a museum collection.). At the same time, the spot price of gold and silver has continued to drift south, impacting the value of intrinsically valued collector coins as well as bullion coin products. Despite this price decline, the demand for these coins continues to exhaust supplies.
About the only weak point in the business of coins appears to be some soft prices in relatively available yet collectible coins normally valued for condition rather than metal content.
While the demand for key date coins is strong, so is the demand for condition rarity. This shows there is sophistication to the collecting markets, a sophistication brought on by experience. Investors who may not necessarily be coin collectors are also following this pattern, understanding the difference between what is rare and what is “more available.”
Interest in coins may see a boost in non-collectors once more checking their pocket change now that a 2014-D Sacagawea obverse with presidential dollar reverse mule has appeared in a high-profile auction. Anything that grabs the interest of the non-collecting public should be viewed as a plus for the hobby and business.
Dealers report business continues to be brisk. While bullion-impacted and scarce to rare coins lead the way, the overall market remains strong and appears to continue to expand.