Tariffs Halt Coin Shipments

One major barometer of the coin market's performance is the American Numismatic Association's annual summer convention. The event typically ushers in the Fall buying season, which typically won’t slow down until well into the following year. This year's August event held in Oklahoma should be labeled a roaring success, with dealers reporting nonstop business.

Well-known coin dealer Jeff Garrett of Mid-American Rare Coin Galleries posted online: “Did not disappoint—the show was crazy busy from start to finish,” continuing, “tired, but grateful.” Virtually all major collectible fields were popular with attendees. While the ANA was “dazzling” as another dealer described it, a dark cloud is appearing on the horizon for anyone who is buying or selling coins needing to be shipped from Europe.

European postal systems recently announced they were suspending all shipments due to U.S. tariffs. At issue, particularly, is the $800 “de minimus” $800 exemption that is anticipated to be phased out. The impact of this suspension of services will impact the incoming supply of U.S. coins that are in Europe, but this is minimal compared to the market for foreign and ancient coins, which is dominated by European supplies. This is likely to heavily impact auction houses on both sides of the Atlantic.

We’ll have to see how this plays out and how it impacts the prices of coins already in this country. On the brighter side, interest in mint products as they first become available is already a hot area of collecting. The mint’s recent announcement that it will begin incorporating laser-engraved privy marks both as a novelty and to discourage counterfeiting is almost certain to pour more fuel on this fire.

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