Mixed Opinions on Made-for-Collector Coins

Concerns over inflation are abating, but it doesn’t appear this is going to impact the interest in collecting or investing in coins. Likewise, the cashless society appears to be evolving into yet another substitute alongside checks, charge cards and other substitutes for using physical cash rather than a threat to the future circulation of coins and bank notes. A recent Cato Institute poll indicated that only 28 percent of Americans are even aware of the concept of a digital currency. U.S. Mint statistics bear out that the demand for coinage continues to increase. The hobby of coin collecting continues to thrive. The upcoming July 20-24 Summer Florida United Numismatists convention will see a group of Proof gold $3 coins highlight the auction being held by Heritage Auctions. Rarities from collections assembled years ago continue to be re-entering the market, many of them likely being offered because their current owners believe the market is prepared to pay an appropriate price for them. When Numismatic News recently asked if the U.S. Mint produces too many made-for-collector issues, the answers were a mixed bag, with some people replying the Mint should stay with its core business while others saying they enjoy the mix. No one complained about the ongoing changes we see on the quarter several times a year. This is important, since this is what the general public sees and hopefully will begin to collect.

Investors and speculators have been enjoying strong prices for gold and silver bullion coins, encouraging them to hold rather than to sell. The spot price of each of these metals have settled into a trading range that is somewhat less than their price a few months ago but are still high compared to their values prior to the spike in inflation.