Summer Showing Strong Market
Coin collecting presses on during what, in past years, has been the summer doldrums.
It may be hot outside, but it’s a different kind of hot inside as coin collecting forges ahead during what in past years has been the summer doldrums. The June Long Beach Expos shattered attendance records set at its past June shows. The July 11-13 Florida United Numismatists annual summer show is gearing up for an anticipated similar situation as this commentary is being written. The 41st Annual Greater Cincinnati Numismatic Exposition (GCNE) will take place on the final weekend of July. The GCNE is expanding its bourse in anticipation of a healthy collector turnout. And these events are all taking place prior to the August American Numismatic Association convention that under normal circumstances would set the pace for the fall season right through to the January 2025 FUN show.
Gold and silver spot prices appear to have settled into a trading range that is helping to stabilize the value of bullion and bullion-impacted coins. Couple this with the general public buying coins and bullion from retail stores that are not traditional coin dealers, innovations such as WitterBrick where coins will be sealed and purchased in packs similar to sport trading cards (see related story on page 8), the U.S. Mint continuing to introduce new collector coins and fresh news regarding coin finds at the site of the legendary Spanish Treasure Fleet of 1715, and you’ve got momentum.
Unlike some past bull coin markets, the prices aren’t necessarily increasing to a point to where a market correction should be expected. This is simply strong numbers of people participating in the hobby. This market likely has legs.
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