Impact of Soaring Gold and Silver Prices on Numismatics
As gold and silver prices reach record highs, collectors are experiencing shrinking numismatic premiums, with coins trading closer to their melt value than ever before.
In the past, high bullion prices have led to numismatic coins being treated as bulk metal, rather than valuable collectibles. For example, in 1976, a BU $20 St Gaudens Double Eagle and $10 Liberty Eagle were purchased at prices more than double but less than triple their melt value.
When sold in 1980, these coins had lost their numismatic premium and were treated as bulk metal, despite initially having a slight premium.
This experience suggests that high spot prices can erode the value of numismatic coins, reducing them to their melt value. However, it is unclear how rare and valuable numismatic pieces will be in this situation.
Author's summary: Soaring gold and silver prices impact numismatics.
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