Morgan silver dollars fluctuate only sideways
The ups and downs of the coin market continue. If Morgan silver dollars are any collectible coin market coincidence barometer, it suggests little if any appreciation is taking place. A…
The ups and downs of the coin market continue. If Morgan silver dollars are any collectible coin market coincidence barometer, it suggests little if any appreciation is taking place. A number of common to scarce Morgan dollar dates, especially in Mint State 64 to 66, continue to decline. Other dates remain steady, but increases in value are few and inconsistent.
There is a renewed interest in generic yet collectible gold coins, likely due to modest recent gains in the spot price of bullion. This interest among gold bugs appears to be spilling over into bullion-impacted gold American Eagle coins. The U.S. Mint sold 22,000 ounces of these coins in October, up from 20,500 ounces in September but down from 45,000 ounces one year earlier.
Platinum, silver, and copper continue to vacillate, suggesting this rally is narrow in focus. Silver American Eagle sales totaled 1.4 million in October, down from 2.89 million one month earlier.
The recent interest in gold bullion coins should not be taken lightly. This can lead to an interest by the same persons into more attractive, scarcer coins. However, we aren’t there yet.
A recent assessment of market conditions by the Professional Numismatists Guild suggests rare bank notes are outperforming coins. Gold won’t rekindle an interest in collectible coins by investors alone, but should gold continue to rally, this might become the catalyst for stronger future prices for coins across all areas. We aren’t there yet, but we can hope.
This article was originally printed in Numismatic News. >> Subscribe today.
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