Coin Market Heats Up During Traditional Summer Doldrums

It may be hot outside, but it’s a different kind of hot inside as coin collecting forges ahead during what in past years has been the summer doldrums.

Coin collecting is continuing to gain momentum this summer, despite the typically slower period for the hobby. The June Long Beach Expos saw record-breaking attendance, and the July 11-13 Florida United Numismatists (FUN) annual summer show is expecting a large crowd. The 41st Annual Greater Cincinnati Numismatic Exposition (GCNE) will also take place at the end of July and is expanding its bourse in anticipation of strong collector turnout. These events are leading up to the August American Numismatic Association (ANA) convention, which usually sets the pace for the fall season through to the January 2025 FUN show.

Gold and silver spot prices have stabilized within a trading range, which is helping to support the value of bullion and bullion-impacted coins. This, coupled with the general public buying coins and bullion from retail stores that are not traditional coin dealers, innovations like WitterBrick where coins will be sealed and purchased in packs similar to sport trading cards (see related story on page 8), the U.S. Mint continuing to introduce new collector coins, and fresh news regarding coin finds at the site of the legendary Spanish Treasure Fleet of 1715, is contributing to the strong market conditions.

Unlike some past bull coin markets, the prices aren't necessarily increasing to a point to where a market correction should be expected. This is simply strong numbers of people participating in the hobby. This market likely has legs.

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