Coins We Love: Numismatic Economics
With the recent interest rate drop, it made me start thinking further about the economics of numismatics. During the Covid lockdown, we saw the price of coins skyrocket. Of course, everyday items also increased (remember the toilet paper scarcity?) to the point that we’ve reached now, where fast food is no longer affordable for many and our grocery bills don’t make sense. However, when comparing coins, we saw an incredible increase over a relatively short time followed by some settling, where coins have plateaued with some pieces actually dropping in value. I don’t think that it’s because we’ve seen more common Morgan Dollars and $2½ Indians enter the market, but rather that “programs” run by telemarketing types have run their courses. However, the value of true collector coins aren’t dropping.
As numismatists, we get excited about things that you don’t see on an everyday basis. Sometimes that can be a set of Seated Quarters or a high-quality accumulation of coins from a lifetime of collecting. That doesn’t mean that I don’t get excited about a set of Morgan Dollars, as they certainly have a place (and are still the most collected US coin), but there are many dates that we see a lot of and we handle in large batches. I know they are unexciting when my wife doesn’t want to hear more about a group of coins. The good news is we search for everything! There is a value and a place for everything, but the market makes it clear what is interesting, what is common, and what is truly unique.
Our Thursday sales have a bit more of the interesting and unique, but that’s obviously not for everyone, while our Sunday sales are full of great opportunities across the numismatic cornucopia. What are coins going to do with the interest rate drop? It’s unknown. But we’re often trying to forecast the market and what coins are going to be worth. That’s what we do every day. Regardless of interest rates, every coin is different, every coin has a value, and there’s a story being told, whether it’s a story of the collector, the coin, or a historical perspective.
Hopefully those perspectives and pieces of interest work together for you like they did us when we picked out the following Coins We Love. This email features several highlights across the board from cheaper items to more expensive pieces to downright tough-to-find rarities. There’s a reason we loved them and wanted to share. If you find the coin boring, skip ahead (I won’t tell Julia). If you find it interesting, keep reading and researching. And, if it culminates in an acquisition, we’ll throw a little party as the coin exits the vault into a new collection. Remember you have a choice to love a coin or not - That’s the thrill of collecting! Thanks, as always, for reading and we hope you enjoy the coins presented below.
Numismatically Yours,
John Brush and the DLRC Team
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