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| Above, Morgan silver dollars continue to sell well. Photo by Armand Vaquer. |
The spot price on COMEX dropped yesterday after reaching over $25.00/toz the day before. The current price (at this writing) is $24.44/toz.
However, base metal coins are staying hot according to Numismatic News.
They wrote:
The value of many collectible yet generally available, intrinsic value impacted, or bullion coins remains strong as the spot price of gold, silver and platinum remain in a tight trading range. A weakened U.S. dollar on world markets is the main reason the metals remain in their current range, but with economic uncertainties and inflationary pressures remaining ahead, it is likely this scenario will continue for some time.
The demand for coins comprised of these metals ensures most such coins will sell for a reasonable markup above the spot price of their precious metal content. Since the metals have not declined significantly from their recent highs despite the challenge from a bullish equities market, many investors as well as collectors continue to buy and hold rather than to sell. My comments aren’t meant to oversell such coins within the market for collector or investment grade coins.
To read more, go here.
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