Coin Market Settles in for the Summer Months-Metals Remain Strong

The coin market historically slows down in the summer. Vacations and outdoor activities can take center stage to numismatics. But as we all are aware, these last couple of months have been anything but normal. Traditional patterns and trends are being redefined at every turn, so for now, all bets are off. Will folks spend more time at home this summer (which invariably would be better for the coin market), or have 3 months of isolation and quarantines caused a bad case of cabin fever? For now, numismatic activity remains quite robust for this normally quiet time of the year. Coins are selling, especially the sub $2500 collector coins. The continued strength of the precious metals market has added some fuel to the fire, as well. With the absence of The Whitman Baltimore Show, Summer FUN and the ANA’s World’s Fair of Money, collectors have reserve funds to tap into for online and mail order business. Perhaps, this will be the new coin market that emerges as a result of the COVID scare, although to make that assumption right now, might prove premature. As airlines and vacation destinations have begun to systematically reopen, it is quite apparent that many people are comfortable with traveling again. Unfortunately, a tainted press has made it difficult for all of us to decipher what is believable and what isn’t. In a nutshell, there are opposing forces at work with an uncertain outcome. Hence, we will maintain the status quo and keep selling coins as long as the collector demand is there. The last week saw a resurgence in coin orders like we haven’t witnessed in several months. None of us are sure what the new normal looks like. The only certainty is the present one has been pretty good, at least for the coin market. Hopefully, it’s sustainable.