Prices Dip, Collecting Thrives
As bullion prices correct and common silver coins disappear into melt, the broader coin-collecting hobby continues to attract new interest and momentum.
The recent precious metal correction or meltdown, depending on how you view it, impacted the value of not only bullion coins, but also of many common date circulation issues whose intrinsic value had recently risen to be greater than their collector value. It will be difficult to determine just what kind of situation the long-term result of this market adjustment will be, but the number of silver coins dated 1964 and earlier that have headed for the melting pot has increased exponentially, as has the spot price of silver.
Not even Morgan and Peace silver dollars were able to avoid this fate, although the dollar coins doomed to be melted tend to be in inferior condition or very common dated examples. Gold coins met the same fate, most of these being relatively common modern commemoratives.
Markets fluctuate regularly. Corrections occur, especially when the price of something rises too quickly. This is true of equities, Bitcoin, and all commodities. It is doubtful this correction will do any damage to the coin-collecting hobby; however, some speculators will be left licking their wounds.
What all this has done is catch the attention of the non-collecting public, then draw some of them in as new collectors. What they collect doesn’t have to be composed of some precious metal. Cents are vanishing from circulation. There are new circulating semiquincentennial coins showing up in your change. A proposal that our current U.S. president might appear on a coin has grabbed mainstream media headlines. Walmart is now offering bullion and collectible coins, following Costco’s example. The recent FUN show set attendance records. Auction prices realized indicate the rare coin sector of the market continues to be popular. Don’t let a metals price correction throw you. Coin collecting is thriving.
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