Foreign hobby stocks higher than U.S.
Stocks are down. Coins are stable. Shouldn’t we be celebrating? The price of coins, be they of gold, silver, or other compositions, became one of the few stable commodities or…
Stocks are down. Coins are stable. Shouldn’t we be celebrating? The price of coins, be they of gold, silver, or other compositions, became one of the few stable commodities or investments during November and December. The spot price of gold touched a new five-month high during the tumultuous stock market session of Dec. 10 but failed to rally sufficiently to drive investors into the coin market.
The Numismatic Stock Index of publicly traded U.S. numismatic related companies continued the decline that started in November 2017, dropping from 62.6 percent of their 52-week high to 55.8 percent.
Foreign companies tracked by the NSI have proved to be steadier, trading at 67.5 percent as compared to 66.46 percent one month and 65.5 percent two months earlier. Sotheby’s declined from 68.3 percent to 60.6 percent, while Spectrum Group International continued for the third month to be selling at its 52-week high. Professional Coin Grading Service parent was trading at a dismal 41.4 percent of its 52-week average, the lowest since the NSI began tracking it.
Once again, we are proving coins are a long-term asset as well as collectible.
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