Both the business and hobby of coins remain on solid ground. Truly rare coins continue to come out of storage as their owners view the current climate as being the moment when the coins should command their best prices if offered. Even the market venue for these coins is changing. Rarities no longer need to be offered in a public auction to realize a strong price. Some of these coins are being bought and sold over the counter between dealers and collectors, while others are appearing in online rather than traditional public auctions.
Grade rarity coins are likewise selling well, but the attention is on the classic rarities. Grade rarity continues to be particularly important for modern issues, especially non-circulating legal tender commemoratives and made-for-collector gold and silver American Eagle coins.
Not everything that is popular has to be rare. There are many collectible yet reasonably available coins that are the focus of collectors as well. Morgan silver dollars, usually the bellwether for the business of coins, continue to be in high demand. Virtually anything that is valued either in part or fully due to its intrinsic value continues to move out the door almost as fast as dealers can stock such inventory. Another important development is the increased interest in ancient and foreign coins, the Asian coin market becoming almost as frothy as is the domestic demand for US coins.
Should anyone be alarmed over the future of coins versus cryptocurrencies, these fears should also be put to rest. The recent stock market correction illustrated just how vulnerable these cyber-currencies are compared to physical cash. Furthermore, El Salvador, the only country in the world to make these “currencies” legal tender is now under pressure to reverse that decision.
Cash is still king. So is coin collecting.