Market shifts necessary but not dramatic

Gold and silver took a hit as soon as these figures were compiled. Gold dropped by $10 to the $1,212 area. Silver declined by 20 cents to $14.24. This up and down action signifies attempts by both metals to find a base. Neither metal has broken out of the trading range. Silver is just a bit lower than it was in the middle of August, and gold is just a bit higher. Only dealers trying to move inventory on a daily basis need pay attention. Long-term collectors could have taken a long nap and missed little.

Cash flow is the name of the game these days. Firms are doing their budgets. They are examining inventory that hasn’t moved. They are looking ahead to plan their approach to business in 2019.

Long-held inventory could be dumped, creating temporary opportunities for bargains. What might be sold are traditional collector products that have become drugs on the market. These are proof sets, uncirculated coin sets, and other modern Mint products that contain nothing made of silver or gold. Bags and rolls of half dollars and America the Beautiful quarters might even drop to face value if holders need cash.

Does this sound dramatic? It shouldn’t. Reappraisals occur at periodic intervals.

Holiday gift-giving will put a floor under traditional sets. What better present for a new collector than a large number of these sets acquired at bargain prices?

These should be considered investments in numismatic education. New collectors can study how proof coins have evolved. Sets from 40 or 50 years ago often have no frosted coins at all in them while the coins are all frosted in more recent sets.