Coin Market Hits Summertime Slowdown
Average collector coins have gotten a reasonable boost so far this year, much of it courtesy of gold and silver trading in a higher range and the availability of more discretionary money. It is rather frustrating to see this momentum stall, but s this is being written gold has passed the $1,300 per ounce level since the Brexit vote.
Silver has passed the $20 mark. will it go higher? Average collector coins and all bullion coins are doing better due to these trends. Although the trend appears to be positive, there is a lot more growth that is needed before we can declare the coin market to be healthy.
Scarce to rare coins are following the other markets cited, mostly trading within tight price ranges, There have been some record prices at auctions, but it is not enough to indicate the market as a whole is moving as it might be liked to. The summer doldrums traditionally continue through until the ANA convention in August.
This usually kick-starts the autumn trading season. In a good market, this would continue to rally right through to the end of the year. As we have no crystal ball, we can't predict the future, but it is likely prices will remain flat through July. Perhaps we can be optimistic, and expect a further price rally latter in the year.
Further a strong period of growth from bullion buyers has helped to propel 2016 Gold Eagles to surpass one million coins sold. As of June, the Mint has sold 1,003,000 total Gold Eagles, representing 479,000 ounces of gold. In all of 2015, 1,839,500 Gold Eagle coins were sold for a total of 801,500 ounces. Silver Eagle bullion coins have recovered after a period of slow sales.
The 2016 Native American Dollar Coin and Currency set went on sale June 16, 2016. Collectors bought 24,497 sets out of a 75,000 mintage limit as of June 19, 2016. Additionally, the 2015 Coin and Currency set was briefly on sale during the same time with 187 sets ordered, bringing the total sold up to 88,711 sets. The 2015 set has a mintage of 90,000
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