Ask for discount on older bullion coins
The average collector can still find good buys but needs to be careful when the spot price of bullion impacts what they purchase. Thomson Reuters GFMS recently cautioned, “Some might…
The average collector can still find good buys but needs to be careful when the spot price of bullion impacts what they purchase. Thomson Reuters GFMS recently cautioned, “Some might argue that the U.S. Mint has become a victim of its own success, and every coin it sold in its [global financial crisis] glory days was in fact a golden nail in its own coffin. We don’t want to take it that far, but do acknowledge the unwillingness of the North American retail market to absorb more newly fabricated metal ... A lot of trading has shifted to the secondary market, where discounts to newly fabricated products [have] retreated to unprecedented lows.”
Consider RBC Wealth Management Managing Director George Gero’s statement as well: “Recent market volatility has also dampened coin investors’ interest as markets went up as escalators and came down like elevators.”
Sotheby’s will be offering a Professional Coin Grading Service Mint State 67 (also stickered by CAC) 1884-S Morgan silver dollar. It will be the first ever to be offered in this grade. The problem for the average collector is the anticipated price of any such coin. But someone likely will pay a record price.
This article was originally printed in Numismatic News. >> Subscribe today.
More Collecting Resources
• Are you a U.S. coin collector? Check out the 2019 U.S. Coin Digest for the most recent coin prices.
• Download The Metal Mania Seminar with David Harper to learn more about the metals market.
