By Mark Ferguson
COIN VALUES Market Analyst
After recently speaking with sophisticated investors (those with tremendous experience and usually very wealthy) in various markets around the country, it is apparent that uncertainty is now a common theme in most or all markets. These markets include rare coins, equities and financial instruments, real estate, other collectibles and more.
All over the country and around the world people are asking, "How do we value these assets?"
Living with this unknown economic future is obviously extremely unsettling to most people.
Coins are fun! They're tangible assets we can work with, rather than what is encountered with traditional investments.
That's one reason we haven't seen a serious crash in the coin market, as has happened in other markets recently.
Sure, business may be slower for some dealers. And prices are softening for many coins, but nothing has been crashing, and buyers are ready, willing and able to buy the right coins they're looking for in virtually all areas of the market.
One area of the market that has been extremely hot is bullion-related coinage. Many dealers are short on product or are even sold out completely, and they're having trouble finding new inventory.
Many dealers are actually having to turn buyers away. As a result, we're seeing buyers considering and starting to purchase more numismatically related coins, like Coronet and Saint-Gaudens gold $20 double eagles, rather than the currently hard-to-find American Eagle bullion coins.
People are still actively buying coins at auctions, although prices have been softer, mainly for off-quality coins. Attractive looking, "gem" quality coins, those graded Mint State 66 and higher, are selling well when they appear, as are modern issues, in which the Mint State and Proof 69 and perfect 70 grades are wanted.
Some sellers are wrestling with personal circumstances and need to sell coins quickly. The auction process often takes too much time for them. Some firms offer cash advances with interest.
So be in touch with your coin dealers and attend coin shows, as this type of quick-sale deal will probably be offered in the day-to-day coin market.