Gold Dips to Seven-Month Low
Gold recently slipped to a seven-month low, followed by silver and platinum.
Grading coins has always been challenging, which is why third-party grading and encapsulation of coins came about. Then there was what I call fourth-party grading, a company that decided to re-grade what other grading services had already done. Now that service, Certified Acceptance Corporation, has launched its own third-party certification service. In addition, yet another service billing itself as “removing subjectivity from the grading process and delivering detailed reports validating the grade, you no longer have to worry about your grader’s state of mind, removing human bias out of the equation” has emerged. Identified on social media as Investcoinandcard.com it says its “digital fingerprinting and advanced grading” will bring a “new era of authentication, engagement, and value preservation.” For the record, this isn’t the first time a certification service has tried computer-generated grading. Regardless of what service you might use, it’s been said before, buy the coin, not the slab.
Gold recently slipped to a seven-month low, followed by silver and platinum. The price decline is due primarily to the increasing strength of the U.S. dollar on world markets and attractive yields on bonds. This scenario has impacted, as might be expected, the value of intrinsically valued bullion and generally available yet collectible precious metal composition circulation-strike coins. True rarities continue to be a hot item.
Auction prices realized encourage even more potential consigners to offer their coins in anticipation of strong prices. Attendance at coin shows and at auctions continues to indicate the rare coin bull market still has a way to go. New U.S. Mint products continue to sell out quickly and then perform well in the immediate secondary market. There are spots of weakness, but this is a broad market with many areas of specialization. Overall, the coin market continues to perform well.
Look for this month's complete Coin Market pricing online at Numismatic News.
You may also like: Can You Still Spend Gold Coins?
