The rare coin market continues its melt up. A 1787 EB on Wing, Brasher doubloon recently realized $9,360,000 at auction. Ironically, according to Greg Rohan of Heritage Auctions, the buyer had never purchased coins before, and bought all the Brasher coins that were being offered for a total of $11,940,000! Regardless of if the buyer is a well-financed new collector or an investor, this illustrates just how hot the rare sector of the market is performing.
This isn’t exclusively a domestic situation. Oversees, a United Kingdom 1656 gold 50 shilling Oliver Cromwell gold coin recently sold for a world record price of £471,000 (about $643,340 US) at auction.
Pricing volatility continues in the collectible yet generally available coin market segment. An example of this is the upward movement in a number of Trade dollar dates, while at the same time there is some noticeable downward movement in Seated Liberty silver dollars. Interest remains keen in this more available market despite the recent decline in the spot price of gold and silver.
On Jan. 21, KSOO talk radio in Sioux Falls fanned the flames of collecting with the comment: “This might be a good time to take a look at that change that's been lying under your couch cushion.”
And, for those who think we are heading for a cashless society, consider U.S. coin production surged in 2020, breaking a streak of four straight yearly declines, as the United States Mint increased circulation coin issues in reaction to demand during the COVID-19 pandemic.
At a time when the public isn’t showing much interest in many fields of antiques, coin collecting continues to expand.