A Quick Update on the 2019 Rare Coin and Collectibles Market
For this year, the sale of US gold coins (and collectibles) has been a hot topic among collectors. However, these collectors are not looking for random-year coins. They are on the lookout for year-set gold coins with either a personal or numismatic meaning.
Due to their historical significance and rarity, gold coins dated 1838, 1839, 1840, 1842, 1855, and 1866 are in demand. This is why the demand for US gold coins has only been looking upwards.
Despite the increasing demand for gold coins, their prices could have never gone lower. This is especially true for generic gold coins like the $20 Double Eagle gold coin.
Aside from gold coins, there has also been a falling trend in the sales of bullion and commemorative coins. Experienced firsthand by the US Mint, this trend is caused by the shift of rare coin companies from this market to vintage numismatics.
According to the US Coin Values Advisor, the rare coin market in August 2019 is estimated to be 4.24 times higher than it was last January 2000.
To seal the deal, recent auctions have also caught the attention of many coin collectors due to their specialty sales. For instance, the sale of $10 Dollar Liberties has seen astounding prices in the latest Heritage Auction.
Why the Market Has a Bright Future Ahead
Ever wondered what caused the drastic change in the rare coins and collectibles market? Here are the top three reasons why:
1. The increased popularity of coin auctions
Due to the drop in the stock market in recent months, many people have tried to widen their horizons by investing in the rare coin business.
2. Increased demand for rare coins and collectibles
In the rare coins and collectibles industry, older and rarer coins are seen as jackpots. This is why collectors are always on the lookout for the most ancient coins to ever exist. Aside from individual collectors, large retail companies have also shown interest in rare coin collecting.
However, these treasures seem to be hiding as there has been a decreasing number of old coins available in auctions. With the increasing demand but limited supply, this has made the rare coins and collectibles industry a lot more controversial.
3. Numismatics have reached the younger audience through social media
With the rise of social media, younger people have expressed interest in the rare coin and collectibles industry. This is due to the increasing number of online coin-dealing groups in social network sites like Facebook.
In the rare coin and collectibles industry, the first three quarters of 2019 has seen a good ride. Although the future isn’t guaranteed for any hobby or business, the coming years of the rare coin and collectibles industry won’t go anywhere but upwards.