Change on the Horizon for Coin Markets
It is challenging to determine just how actively collectors are seeking gold coins. Physical demand for gold across critical markets has tumbled as prices continue to rise.
Markets change all the time. Yes, even in the business of coins, the market changes continuously. Dealers and collectors need to be aware of and willing to embrace these changes. It is challenging to get a fix on just how actively collectors are seeking gold coins, as we see record-breaking prices for gold also break the budget of many gold coin collectors. Many dealers are experiencing more buying than selling of these coins as the general public reaps their gains.
Mining.com recently reported, “Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to sell their holdings and book the profit.” Argor-Heraeus SA (Switzerland) President Robin Kolvenbach said, “There was a spike in demand in August when India cut its import duty, but since then, it has gone completely dead again.”
The market for gold in coinage and other formats is changing. Also changing is the international market for bank notes. Notes are losing relevance in places including India, but in India, there is an art market thriving due to the support and interest of coin and paper money collectors. According to the October 3 issue of The Week, “Auction houses are quite literally monetizing on money while museums are being erected to house rare, well-preserved, notes.”
A surge in interest in coins in the United States may be anticipated in new markets once the U.S. Mint and Warner Brothers begin marketing NCLT pop culture subject coins.
CoinsWeekly.com publisher Ursula Kampmann recently reported observing many young people, about a third of them women, attending a Coinex event in England hosted by Sara Balbi, the Managing Director of Heritage in London, in Soho. Kampmann concluded, “So, numismatists can be young and trendy.”
Are you ready? The markets are changing.
You may also like:
