Proof and mint sets get demand boost
Prices of mint and proof sets remain steady and disappointing, yet there has been some aggressive buying initiated by at least one significant dealer. It isn’t clear if this is…
Prices of mint and proof sets remain steady and disappointing, yet there has been some aggressive buying initiated by at least one significant dealer. It isn’t clear if this is due to telemarketing industry demand, but it failed to rally prices.
There have been some interesting developments impacting investors more than collectors within the past month. Among these has been a surprising renewal of interest in bullion-price impacted gold coins. While the spot price of gold appears to have reached a plateau recently, there was a noticeable spike in purchasing that was likely spurred by some nervous stock investors moving cautiously into the precious metals but not necessarily into the collectible coin market.
The U.S. portion of the Numismatic Stock Index was down significantly from 67.3 percent of its 52-week high prices one month earlier to a disappointing 56.3 percent as of Nov. 10. All six stocks were down, although the worst was the recently issued Meso Numismatic stock that plunged to 16.7 percent of its Initial Public Offering price. Meso Numismatics markets third-party certified, high-end world coins but is based in the United States.
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