From the April 17, 2020, Numismatic News E-NewsLetter
How do you think the landscape of the hobby will look once the pandemic is over and the market settles down?
Here are some answers sent in from our E-Newsletter readers.
Primary sales will be online and auctions. Face-to-face purchases will be reduced considerably. This change brings two issues to light: 1) It becomes more important to understand the return policy, and 2) Consider the buyer’s premium when purchasing. In the long run, we will most likely see a down market.
The number of infections and deaths attributed to the coronavirus play on your mind. Isolation and personal protection through distancing are ingrained. I believe the crowds we’re accustomed to seeing jostling through coin shows will cease. Maybe a predetermined quantity of people will be let into a venue, and for every party that exits a new one is let in. Coin shops may be OK since traffic is a minor issue. Internet, magazine ads, and auction purchases will do well. That is if there will be enough money to go around. It’s anybody’s guess.
Yes, most definitely the word I get from dealers and the words I get from collectors: everybody can’t wait until things get back to normal. When that happens, people will be rushing to shows and rushing the club meetings to get their fill.
West Park, Fla.
First, social distancing will continue, and this would restrict mobility and attendance at coin events such as meetings, shows, and conventions. There could be a permanent dislike to be close or within large gatherings, regardless of an all-clear.
Second, marginal, vest-pocket, and small-time coin dealers most likely would cease and decrease.
Third, travel, particularly on airplanes with packed seating, will be affected, and travel to major national or regional gathering affected also.
Fourth, the longer “stay in place” continues and remains, the longer the adjustment back could be: “It ain’t happening quick and fast.”
Fifth, erratic fluctuations with precious metals will most likely drive out hobby participants, particularly those whose objective is an investment and return quick returns.
Michael S. Turrini
It will take time to sort itself out but I think the future will be strong. There will be those, and we’re seeing it, who will regret having sold pieces/collections off for a few quick bucks! The best thing right now is to use the time to learn and develop an even greater appreciation for this hobby!
It’s going to slow down a little but prices may increase. Soon thereafter, there will come surges for silver and gold.
Boy, who wouldn’t like a crystal ball just about now.