New Bull Market For Coins
One thing of particular notice is that the auction did extremely well despite the absence of any seven-figure coins. This suggests a stronger interest in a broader range of coins. The best of the best are setting new auction records. However it appears that there weren’t any extraordinary valuable coins such as an 1804 silver dollar at the auction.
The all-important middle of the market, where most people are concentrating on seems to be stabilizing. However, it still seems to be stuck at a level lower than where it was a few years ago.
Active buying appears to be including not only long-term collectors, but more new collectors who are graduating from collecting coins from their pocket change to collecting through purchasing what would otherwise be unavailable from their pocket change.
Dealers claim that there is still a glut of key and scarcer date coins in average conditions in their inventories. Of course there is a higher demand for these same coins in higher grades.
The recent increase in the spot price of gold and silver which has been brought about in part by demand and in part by the lower value of the U.S. dollar on the world market. This has been noticed by coin buyers as well. This may well be the beginning of a new bull market.
If there has been any excitement in the bullion Eagle sales of late it is likely due to the platinum version. The Mint has sold 20,000 pieces, which equals the sales figures for all of 2016. Last year the platinum version only became available for sale in July of 2016.
Offering the new one-ounce 2017 coin in January probably received the benefit of the new date excitement that usually tends to surround the gold and silver Eagles that time of the year. Silver Eagles of late have been anemic at a count of 325,000 ounces.
This is not a result that gets investors hearts racing. Gold did a bit better, but it too has lost momentum too. So far, it looks like January 2017 gold and silver Eagle sales are having a tough time reaching 2016 levels.
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