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Spotty appreciation at top of the food chain

Minor-denomination coins are usually the realm of the specialist. Prices for these areas remain primarily dormant, with some modest reductions in value. Having said that, those same coins that are certified to be at the top of the food chain are showing what I would term “spotty” areas of appreciation, suggesting the major interest in these areas is focused at the top. The price for Morgan silver dollars, which are of general interest among collectors, remain surprisingly weak considering they are usually accepted to be the bellwether portion of the U.S. coin market.

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Bullion and bullion-impacted coins appear to have taken a breather, although the recent increase in the spot price of gold and silver has gotten the attention of some speculators, many of whom are opportunist investors rather than collectors. The price of generic gold has remained constant recently.

U.S. Mint new issues have been performing well at the time of their release.However, as in the past, such coins quickly decline in value after the initial market demand is satisfied. There is little demand for early Mint and Proof sets, or for the first series of commemoratives issued through the early 1950s.

A coincidence indicator, the Numismatic Stock Index, rose significantly to 65.3 percent from 59.4 percent one month earlier for the 52-week high for these publically traded stocks. This places these stocks at their highest point since October 2018.

The market for coins continues to show new signs of life, but the progress remains slow.

This article was originally printed in Numismatic News Express. >> Subscribe today

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