Numismatics has been making the news recently – for all the right reasons. The online headlines one late October day for WHDH Boston Channel 7 News reads: “Coins, bills from 1800s, early 1900s found in WWI ammunition round.”
An earlier story published in The Guardian newspaper leads with: “Rare gold coins dug out of walls of French mansion sold for $1.2m.” A recent Los Angeles Times story headline reads: “It was worth pennies when minted. Now this Colonial American coin could fetch $300,000.”
Not to be outdone, the US Sun tabloid has been helping encourage coin collecting with headlines including: “Rare 1969 D penny Lincoln coin sells for more than $2,000 – and you could have the same one in your wallet;” “Rare 1992 Lincoln penny coin sells for more than $25,000 – do you have one in your spare change?” and “Rare and valuable Lincoln penny coins explained – and they’re worth up to $1,000s.”
Coin collecting has once more gone mainstream. With people examining their pocket change, the spot price of gold and silver remaining at attention-grabbing levels and record prices continuing both at auction and through over-the-counter sales, this is a market to be taken seriously. Coin dealers will attest to the challenge to restock quickly enough to keep pace with demand. New U.S. Mint products sell out quickly, only to sell for even more on the secondary market. Coin shows are reporting strong attendance and bourse sales. Coin clubs are on the rebound. The hobby of kings still wears its crown.