Gold Prices Rebound

Cash is still king. Despite advocates pushing for a totally cashless society, the demand for coins and banknotes appears to be on the rise. There is good reason for it. Merchants are increasingly likely to pass on banking fees from having accepted electronic or credit card payments to the consumer. According to the Federal Reserve Bank of Atlanta, between 2015 and 2022, the share of cash purchases that resulted in consumers receiving a discount rose by 66 percent. Retailers, especially small merchants, are increasingly imposing surcharges if you pay by credit card. Cash discounts are more commonly being made available on essential rather than on discretionary transactions.

Further good news, if you own gold coins, is that gold has rebounded to levels challenging the $2,000 per ounce mark. This has impacted gold American Eagles, early 20th-century common-date circulation strike gold coins, and many gold commemoratives. Investors are watching this market closely since much of this upward swing is due to economic and social unrest.

There is something for everyone in the current coin hobby market. The U.S. Mint has begun accepting orders for 2023 American Innovation dollar coin-proof sets. The overall market for collectible coins continues, although prices remain soft in some sectors. Coins certified to be in superior grades tend to hold their value better than more commonly available coins of the same dates and mintmarks. Rare coins, as always, go to the beat of a different drum, continuing to sell quickly and for impressive prices.