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Newsworthy Coins, Shows Boost Market

Farouk specimen 1933 $20 double eagle. (Image courtesy Sotheby's.)

Farouk specimen 1933 $20 double eagle. (Image courtesy Sotheby's.)

The scarce to rare coin market once more leads the way. This time the King Farouk (Egypt) specimen of the famed 1933 $20 double eagle is the headline-grabbing coin up for grabs in a June Sotheby's auction. The number of incredibly rare coins being offered for sale continues to increase, illustrating just how strong the overall coin market has become. 

Coins that have been double certified, that is they have been certified by Certified Acceptance Corporation (CAC) in addition to a third-party certification service, are realizing noticeably higher prices than are similar coins lacking this additional certification.

The more available yet collectible market segment continues to gain steam as coin shows are once more opening as the fear of the coronavirus declines. Morgan silver dollars continue to gain in interest; however, Peace dollars continue to be a somewhat surprising laggard. Interest in most other denominations continue to show modest increases. 

New U.S. Mint collector products are increasing in demand as well. All five options for the proof 2021-W Reverse of 1986 gold American Eagle coins sold out within minutes of their March 11 release. 

The secondary market for past silver-composition proof and mint sets continues to follow the spot price of bullion, as do many other intrinsically valued coins. Here the demand remains strong; however, the spot price of both gold and silver have continued their slow decline. Much of this price decline can be blamed on the poor performance of the U.S. dollar on the world market rather than due to some decrease in the demand for the metals themselves.