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Coronavirus Fears Boost Spot Price of Gold

The soaring price of gold coupled with an increasing number of significantly rare and expensive coins appearing in recent auctions bode well for the near-future business of coins.

While a strong stock market offers discretionary money, with which to encourage diversification through buying collectibles as hard assets, fears such as those due to the economic impact of the coronavirus are boosting the spot price of gold. Bullion and heavily bullion-impacted silver and especially gold coins are drawing a lot of interest from investors, likely for this reason. (The spot price of silver still lags increases in gold values in terms of percentage.)

Many of the 18th and 19th century U.S. coins are now performing well. Late 19th and early 20th century key-date coin prices continue to be soft, although the ultra high grade certified examples still perform well at auction. The laggards are primarily the collectible-by-generally-available 20th century business strike coins as well as Morgan and Peace silver dollars. There is strong interest in Morgan silver dollars, but the pricing trend still involves more minus than plus signs – even among the key-date coins. Could Morgan dollars be the new “sleeper” series to collect? Could it be that supply still outstrips demand?

New U.S. Mint products continue to experience a mixed market, with collectors continuing to clamor for new issues that have been certified as Mint State or Prf-70 but being less enthusiastic about anything certified in any lower grades.

The post Coronavirus Fears Boost Spot Price of Gold appeared first on Numismatic News.

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