Rare Coins Shine Bright Amid Volatile Precious Metals Market
While bullion-driven coins feel the impact of fluctuating precious metal prices, rare and high-grade collectibles continue to set record-breaking auction results, showcasing robust demand among dedicated numismatists.
Keen interest in the rare coin sector of the market continues to be strong. In contrast, much of the balance of the more commonly available collectible coins continues to be impacted by the volatility of the spot price of precious metals. Collectible coins continue to be in steady demand across the boards. However, those impacted by their precious metal content are being purchased by dealers more quickly than they are being sold, likely because of speculators rather than collectors who are cashing in when there is a profit to be made.
When this article was written, gold, silver, and platinum appeared to be holding at reasonably steady prices, and this scenario could possibly impact future sales of bullion and bullion-impacted coins. The strong enthusiasm experienced in the truly rare coin market is well illustrated by the November 20-24 Heritage US Coins Signature Auction results. An outstanding example from this sale is a Professional Coin Grading Service Proof 69 1915 Buffalo nickel that realized $240,001, more than triple the coin’s previous auction record from when it was last offered more than 19 years earlier. A Mint State 66 1856 Flying Eagle cent (Snow 3) broke a 2004 Heritage auction record by about $20,000, selling for a hammer price of $192,000. Yet another example, this being a PCGS CAC Proof 67+ 1856 Flying Eagle cent, realized $312,000, beating the same coin’s 2020 record price by $72,000 or 23 percent.
Coins should generally be anticipated to be problem-free if they are to realize their highest price. An 1870-CC Liberty Head $20 Double Eagle graded “AU Details” by Numismatic Guaranty Corporation sold for a remarkable $216,000 despite the coin being assigned this normally less-than-desirable condition.
You may also like:
