Markets Take Hit
Global market turmoil is rattling equities, but demand for gold, silver, and collectible coins remains strong as investors continue seeking safe-haven assets.
Stock and bond markets are taking a hit worldwide due to the conflict with Iran. At the same time, although the spot price of precious metals has softened, demand for gold and silver coins has not. This is true of both new and older coins. 2026-W and 2026-P Proof Silver American Eagle coins sold out quickly. Scarce to rare coin prices have shown some minor weakness, but sales continue to be brisk at current levels. Investors appear to continue to favor coins as a commodity when seeking shelter from turbulent equity markets.
I don’t normally bring foreign currencies into this commentary; however, it is worth noting that as of March 3, Iran had shut down cash withdrawals from banks and introduced a 1 million toman Iran Check to “complete the bank note supply chain under special circumstances.” The highest previous note denomination was 100,000 tomans.
U.S. currency has taken no such hit; however, Bitcoin is in a correction mode, being down a whopping 50 percent over the past few months, with market analysts anticipating a “deep bear market” in its future.
The dollar remains solid, as does the market for collectible coins. The market for our now-defunct cent continues to have legs both with hoarders and merchants. Frustration boiled over in Oregon, where the Northwest Grocery Retail Association convinced the state senate to pass a bill allowing cash transactions to be rounded to the nearest five cents. Oregon House Bill 4178 includes an amendment to consumer and discrimination laws, including a 2022 Oregon law requiring businesses to accept coins and bank notes. The action was taken due to a lack of any federal guidelines on how to negotiate our “centless” situation.
You may also like:
