Category Archives: coin market at a glance

Press Magnifies the Scarce to Rare Segment of Market

Et tu Brute? We have recently witnessed the sale of an 1804 silver dollar, seen a 1794 silver dollar be offered at an astronomical price but fail to sell, and one of three known gold aureii of Julius Caesar assassin Brutus surface. Now, add to those coins the announcement one of the famous 1943 copper Lincoln cents will be offered in a November auction.
Furthermore, consider that Chartered Alternative Investment Analyst Association has recently forecast that what they call the “alternative asset classes” of investments will grow globally between 18 and 24 percent by 2025

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Simply Put: The Market Is Hot

While many of the generally available yet bullion spot price impacted silver and gold business strike coins as well as American Eagles are currently in a holding pattern, the same is not true for scarce to rare coins. More headline-grabbing rare dates are being brought to market almost daily, with upcoming auctions now becoming chocked full of material that seldom appears to be available.
Simply put, the market is hot

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Investors Dip Their Toe into Scarce to Rare Coins

There have always been dealers who will try to undercut the price at which another dealer sells a like-item. Recently, there appears to be more of this activity than in the past, especially in coins certified to be a condition that is relatively available.
The potential problem as always is the eye appeal of individual coins and what value the buyer puts on a coin without comparing it to the second example

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Market Reaches Level of Exuberance

By Richard Giedroyc 
Are stocks overpriced, or are gold and silver in coin as well as in bullion format following the value of equities in tandem? Some sources are suggesting that gold and silver are moving parallel to equities due to those equities being overpriced. The record 32.9 percent decline in Gross Domestic Product in the second quarter appears to support that argument

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U.S. Mint Asks Dealers for Coin Forecasts

By Richard Giedroyc
Silver rather than gold is where the action is! Gold bullion and readily available business strike gold coins prior to 1933 are holding their own following a significant price run-up to an all-time record for gold. It now appears silver is doing more than just catching up.
The spot price of silver has a long way to go to reach an all-time record of about $50 an ounce, but silver American Eagles and bullion-impacted common silver coins issued through 1964 are rising quickly in price as is the spot price of their content

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How High Will Silver Go?

By Richard Giedroyc
Silver broke through the $21 an ounce barrier as this commentary was being written, so how high will silver go? Is it really the poor man’s gold? There really isn’t anything further to say that the spot price of silver can’t say for itself. Bullion and bullion-impacted coins continue their upward trend. This, in turn, is grabbing the attention of investors while the general public begins once more to check their change to see if they get lucky

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Coins with Intrinsic Value in High Demand

By Richard Giedroyc
Could prices for key date and ultra-high condition certified coins be ready for a dramatic increase? Dealers have been recently indicating there is a shortage of quality coins that aren’t what I would term “recycled stuff.” It can be argued that many of the better coins are in strong financial hands, however, it can also be argued demand is simply outstripping supply in much the same fashion as is being experienced in the bullion and bullion-impacted sectors of the coin market.
This is the type of problem we all may welcome, that is unless you have been putting off buying some special coin

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‘Frothy Bull Market’ for Coins

By Richard Giedroyc 
The market for coins is doing well despite the coronavirus shutdowns that have decimated so many businesses. Brick-and-mortar coin shops without any internet presence of consequence have felt the impact; however, those with a strong internet following have continued to prosper.
As a nation, we are beginning to re-open our stores to the public

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Scarce to Rare Coins Show No Signs of Slowing

By Richard Giedroyc 
Anyone asking how the rare coin market is performing need not look any further than the 1933 $10 eagle graded Mint State 65 by Numismatic Guaranty Corporation that sold for $360,000 in a late April auction in Dallas. Take notice of the bids, of which there were 45 before the gavel fell!
The scarce to rare sector of the coin market is firing on all cylinders, with no let-up in sight. Collectible yet generally more available coins continue to sell at a fever pitch

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Coin Market Healthiest It’s Been in Years

By Richard Giedroyc
Gold continues to trade in a reasonably tight range while silver continues to dramatically underperform gold. You might not see this if you follow the demand for silver American Eagle and bullion-impacted silver coins. Demand continues to outstrip supply for both gold and silver composition coins, both older issues and those being generated by the U

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Coin Business Resilient in the Face of Coronavirus

By Richard Giedroyc 
The business of coins is proving to be surprisingly resilient in comparison to much of the non-essential business market during this period of the coronavirus pandemic. Despite that observation, there are still two sides to the coin story.
Collectors and investors looking to buy gold and silver coins as a hedge against the recent declines in the stock market are finding premiums for bullion impacted coins to be much higher than might be expected under normal circumstances

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Coronavirus Cripples the Business of Coins

By Richard Giedroyc
The economic downturn due to the spread of coronavirus has crippled the business of coins as it has with most other businesses. Coin shows have been canceled worldwide. Public auctions have been moved, postponed or put on hold

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Market for Morgan and Peace Dollars Still Soft

The finest known 1855 proof Kellogg $50 gold coin, graded PCGS PR-64 Cameo CAC, sold for a record $1 million by Witter Coin in San Francisco and will be exhibited by its new owner at the store’s grand opening starting Feb. 10, 2020. (Image courtesy Professional Coin Grading Service, www

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Bullion Coins Remain Volatile

By Richard Giedroyc
Some very impressive rare coins are appearing in auctions during February and March. Strong prices should continue as the already heated auction market fires up even further.
It’s difficult to determine the extent of this venue since, although total and individual prices realized are often available, the annual number of coins being offered via auction is not

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First Million-Dollar Coin of 2020 in the Books

By Richard Giedroyc 
he first million-dollar coin of the year came quickly in 2020, and it isn’t even an issue of the United States! A British 1936 gold sovereign of King Edward VIII, one of six known, was brokered by the British Royal Mint for the equivalent of $1.3 million even before the Florida United Numismatists show was underway. This may be a good omen for the business of coins

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Tale of Two Coin Markets Continues into 2020

By Richard Giedroyc
The business and hobby of coins became more keenly defined as a tale of two markets during the past year. There is no reason to anticipate any change during 2020. High-grade Barber, Walking Liberty and Franklin half dollars increased in value, but all other silver and minor denomination coins tended to hold in tight trading ranges

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Rare Coins at Auction Excel

By Richard Giedroyc
We appear to be dealing with a tale of two markets. There always have been multiple marketplaces through which collectibles and bullion are sold, but what is glaring now is the difference between those coins that are sold by public auction… and “everything else.” In theory, any coin should be eligible to be offered through an auction

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Market Decline Indicates Good Time to Buy

By Richard Giedroyc
The spot price of both gold and silver are once more declining at the moment this commentary is being written.  If you watch the price of coins for investment purposes, this is where you should buy on the dip, then sell once the price has recovered to some target value you set for your portfolio. Yes, this makes sense

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Gold’s Drop Hits Double Eagles, Bullion Coins

by Richard Giedroyc
Generic gold coins, especially $20 double eagles, were being hit hard at the time this commentary was being written, this being due to the spot price of gold declining to $1,453 an ounce. The yellow metal has now declined to its lowest level in about three months. As might be expected, common-date gold American Eagle bullion coins followed

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Coin Owners Reluctant to Sell

Relatively common-date, common-condition gold and silver composition coins continue to mirror daily market changes in their intrinsic values. Since there has been no breakaway in the spot price of gold or silver bullion, the value of these coins continues to be in a tight trading range. Regardless, a certain sector of collectors and possibly including investors see these as reasonable prices at which they are quite willing to buy

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Will Investor Demand Drive Out the Collector?

Gold and silver, be they in coinage form or trading as bullion, continue to move in tightly defined pricing ranges. Neither platinum nor palladium coins are as available as those comprised of gold or silver. Coins composed of either platinum or palladium have continued to appreciate recently – without having drawing much attention to them

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U.S. Coin Supply Out-Pacing Demand

Sales are up, prices aren’t. This pretty well summarizes the current state of the business of coins.
Some of this can be blamed on the recent declines in the commodity spot price of precious metals; however, there is some weakness in the market for copper half cents and cents, and for nickels as well

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Auction Fever Does Not Appear to be Contagious

Coin dealers continue to report brisk business. However, despite this increasing demand, clients remain bearish regarding retail price increases for anything other than bullion and bullion-impacted coins. This isn’t true just for coins that are considered to be collectible yet reasonably available, but for the scarce to rare coins as well

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Still a Good Time to Go After Higher End Collectible Coins

By Richard Giedroyc
Wholesale coin prices dipped, then rose dramatically in the past week as prices continued to shadow the increasingly volatile gold and silver bullion markets. Retail prices for most coins held steady during the same time, including most bullion and bullion-impacted yet collectible coins. The discrepancy between the buy and sell gaps in the wholesale and retail market makes sense, considering dealers need to sell at a profit regardless of if the spot price of the intrinsic value of their stocked merchandise rises or falls

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Notoriety Does Not Lead to Record Setting Prices

The price of many gold and silver business strike coins rose recently, in part due to an appreciable increase in the spot price of these metals, but more in reaction to that spot price rise. Simply put, demand for such coins, regardless of if they are of a collectible grade or not, increased.
At the moment this commentary is being written the spot price has declined once more but is remaining near the resistance levels of $1,500 per ounce for gold and $18 an ounce for silver

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Demand for Bullion and Bullion-Impacted Silver Coins Outstripping Supply

Silver and gold coins are looking good not only to collectors but to the public at large. The latest round of tariffs aimed primarily against China, the uncertainty of equity markets, and the uncertainty of the United States possibly being about to enter a recession are encouraging non-collectors to buy gold and silver composition coins regardless of the collectability of those coins. The spot price of these precious metals has been appreciating significantly throughout the past six weeks, with no let-up in sight

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Fourth-Party Certified Coins Command Significant Premiums

The recent American Numismatic Association convention is now history, but as with past ANA conventions, it has kicked off the new ‘season’ for coin collecting. Since summer’s end is at hand also, this is a time when many people interested in outdoor activities as well as coins get their chance to head back indoors to their pursuit of collecting.
Dealers declared the ANA show a success, with robust sales being assisted by the recent run-up in the spot price of gold and silver, most of this being at the expense of equity markets

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Collector Coins Continue to Lag

Bullion was impacted and bullion gold and silver coins are experiencing significant appreciation as the dollar rises on the world market and fear grips Wall Street.
The major winners are the business strike Gold and Silver American Eagle coins but the interest in any silver composition coin issued for circulation is intensifying. Gold and silver are each at a six-year high

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Time to Take a More Serious Look at Platinum?

Pork may be advertised as the ‘other white meat,’ but platinum is the ‘other white metal.’ The low mintage of Platinum American Eagle coins speaks for itself, but the series has never caught on with collectors, mostly being relegated (with the exception of the proofs) to bullion trading by precious metal investors instead. Even at bullion spot prices, platinum, like gold and silver, has made a significant increase in value recently

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Precious Metals Have Re-Awakened

The market for both bullion and collectible coins is gaining steam, with interest in coins enjoying a boost brought about by the recent gains in both gold and silver bullion prices.
Bullion coins and coins impacted directly by their intrinsic value are getting a boost, especially in lower grades where intrinsic value is everything. Here there is demand due more to investor interest than to collectors

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Surge in Interest in Coins Finally at Hand

Consider it a coincidence barometer if you like, but I have recently noticed an uptick in the number of full page ads in local newspapers as well as ads on television where unnamed companies offer to purchase your coins as well as gold and silver in local hotels.
Considering the recent appreciation of gold and silver, followed by the subsequent increase in value of many intrinsic value driven coins, this suggests the surge in interest in coins many of us have been waiting for is finally at hand. These anonymous buyers, of course, offer to buy your coins at ‘up to’ some very staggering figures to encourage you to visit, but these hotel buyers are helping to draw new attention to coins

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Commemorative and Collector Coins Remain Strong

The gap between buying and selling coins of intrinsic value continues to narrow as gold bullion firms up its new trading range at about $1,400 an ounce. The gap between the buy and sell on silver bullion coins remains wider, but is also narrowing. Morgan silver dollar retail prices for better grade, but less than rare dates, continue a slow decline

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Morgans Appear to have Lost Some of their Luster

The spot price of gold and silver rose dramatically throughout the past week, much of this due to political and financial concerns. It appears gold may now continue to trade in the $1,400 per ounce range, while silver hopefully remains at about $15 per ounce.
In early July Kitco reported, “The safe-haven metal [gold] is seeing some renewed demand from traders and investors as their overall risk appetite is less robust

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Tone of the Current Coin Market is Optimistic

Anxiety!
The threat of a war with Iran, the Federal Reserve Bank considering lowering interest rates at its next meeting, and gold; the metal which has been quietly appreciating modestly suddenly took off as the US dollar dropped in exchange rate value on the world market.
This in turn impacted gold bullion and collectible gold coins. Silver followed the spot price of the yellow metal, although not as dramatically

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Collectors and dealers are in this together

Coin values continue to be a mixed bag. A surprising number of the usually popular Morgan silver dollar coin prices remain even or have declined modestly. Likewise, there have been price decreases in areas including Buffalo nickels, Barber dimes, and Walking Liberty Half dollars

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Market continues to heavily favor buyer rather than seller

“I’m a buyer at these levels,” appears to be a recent frequently repeated statement at many coin shows nationwide. This reflects the lower spot price of gold and silver, which subsequently is impacting the intrinsic value of many collectible coins.
At the same time some dealers are indicating they are having a difficult time purchasing and stocking anything of significance

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Gold on the rise

Gold has begun to increase in value as this commentary is being written. Fear is gripping the equity markets as stocks get smoked by the tariff war now being waged between the United States and the Peoples’ Republic of China. The question for coin collectors and tangible asset investors is the same—will this war continue and if so how many people may flee equities for the safe haven not only of bullion, but of scarce to rare coins

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Scope of numismatic hobby is changing

The overall direction of the market for collectible coins continues to be unfolding. The recent Pittsburgh National Money Show auction realized more than was anticipated, but a closer examination of the highlighted coins indicates most hammer prices when compared to the overall market were stagnant.
The trending value of Indian cents and Morgan silver dollars, both perennially popular with collectors, has been generally in decline

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NSI Points to an Attractive Investment

It is always challenging to estimate how well coin dealers are doing. Most dealers are small enterprises, many of them composed of ‘Mom and Pop,’ but unlikely to have many employees. Even many of the larger companies such as Heritage, Goldberg, Kagins, SilverTowne and the like are privately held companies whose performance can only be evaluated if auction hammer prices are available

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Serious interest focused on specialty areas

The question of whether coins are an investment or a store of value can be debated, but neither of these addresses the paramount issue of pride in ownership. Each individual must decide for himself if this is a hobby or an investment.
(Image courtesy of www

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Morgan prices suggest collector interests are shifting

There may be more of a shift in the market for coins than is being recognized. While the more highly desirable Morgan silver dollars (date or condition rarities) continue to hold their value, there are few that have increased significantly in value recently. The market for all other Morgan silver dollars remains weak, with some price declines appearing regularly

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Spotty appreciation at top of the food chain

Minor-denomination coins are usually the realm of the specialist. Prices for these areas remain primarily dormant, with some modest reductions in value. Having said that, those same coins that are certified to be at the top of the food chain are showing what I would term “spotty” areas of appreciation, suggesting the major interest in these areas is focused at the top

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New signs point to improving market

The glimmers of a more dynamic market ahead for the business of coins continue to peak through the clouds. During January, a copper composition 1943 Lincoln cent sold for $204,000 against an estimate of $170,000 to $200,000. An incorrect estimate of $1

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Certain coins hint at better things to come

Has the long crawl back begun? It depends on what you consider to be the goal post. As much as most collectors don’t like to associate the spot price of precious metals with that of collectible coins, the fact is coins and metals often follow closely in tandem. Right now, the spot price of gold continues to trade in a very tight range that comes near but fails to challenge the $1,300 an ounce resistance level, while silver surpassed $15 an ounce several weeks ago and has continued to hold its ground ever since

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Buyers not bidding coins to new levels

In general, 2018 was a quiet year for the collectible coin market. Scarce to rare coins continued to sell well, but few were setting new records. Auction sales results suggest there is a hungry market of collectors and dealers interested in these coins, but it also suggests these buyers are not comfortable in bidding these collectibles to new levels

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Lower prices good for long-term buyer

A well-known financial commentator recently summarized the current stock market situation as a bear market rather than as a correction. That economic diagnosis can set anyone with a retirement plan on edge.
The coin market has been both in a correction and an ensuing bear market for some time

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Bullion’s shadow hangs over market

Collectible and bullion impacted coins continue to sell in a tight range as this market commentary is being written. Gold bullion is trying to hold above $1,200 while silver is making its goal line stand at $14.
There has been some uptick in activity in gold coins that appears to originate from stock market investors looking to cushion their now increasingly vulnerable stock and bond portfolios

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