The Rare Coin Market for the Next Year

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Permalink Reply by coinnetwork on January 2, 2009 at 6:36pm

This should be an interesting thread. I look forward to seeing responses from others.

From my perspective, I will definitely continue to be a buyer. However, my buying philosophy has changed over the past few months. I am no longer buying filler coins, i.e. I will no longer buy the MS64 if I plan to buy the MS65 when the right coin comes around. I am trying to only add coins which have exceptional eye appeal or which are exceptional for their grade. Lastly, I think the economic situation will create some rarities in 2008 and 2009 dated coins and I am trying to add these to my collection. This includes some of the low mintage proof platinum eagles and gold eagles from this year, plus other under the radar coins like the 2008 Sacagawea Dollars and Kennedy Halves.

Regarding the coin market in general, I'm hopeful that it will hold up, but I suppose I'm shifting to a more long term perspective with my collection. If prices decline, so be it, I'll continue to buy and get more for my money. If prices maintain their levels, the same applies.

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Permalink Reply by Platinum Fanatic on January 2, 2009 at 8:44pm

If precious metals rise in price as predicted by many, that will help prop up values. I'm going to unload some mint state saints if gold shoots past $900. Note that Russia will be selling gold like crazy because of their economic crisis, so that will hinder gold's bullish moves.

I think the 2008 platinum proof eagles will explode if the Mint releases final figures in January that confirm them as Kings. The thing that concerns me, though, is that the 4-coin proof set and the $10 proof still have not been added to the Product No Longer Available list.

I have no idea what the 2008 gold buffs are going to do in 2009. I never anticipated this strong demand.

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Permalink Reply by Roy on January 3, 2009 at 11:13am

Despite the governments inflationary policies, unemployment is predicted to rise to over 10% in 2009, which will have in my opinion a dampening effect on consumer spending. Already with unemployment at just 6.8% look at consumer spending, it has just stopped. A bankruptcy lawyer I know says the wave of filings will go up dramatically this year and they won't be for chap 11 but will be chap 7. This should further dampen consumer spending. What companies will want to raise prices in that enviroment, and the demand for oil worldwide should continue to slacken for the next 6 months at least further keeping prices down. Now will that soften prices in the coin market, who knows, perhaps people will feel that rare coins are a good safe alternative place to park their money, perhaps they will need that money to pay bills. The upper end of the market for $50,000 coins and above may not be as effected since those collector/investors have more then enough capital to see them through even the worst economic crisis. As for myself I will be buying, but not as much as in past years, because as a collector you always want to add to your collection. That is in our nature as collectors.
Just my opinion.

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Permalink Reply by Jim on January 3, 2009 at 2:46pm

I'll continue to buy, but I'm going to be a more careful buyer for sure. That doesn't have much to do with the economy - I simply need to change the way I approach my collection. I try too hard to collect everything and that's just not feasible. I've picked a few series I want to finish and am going to go after higher grade examples within those series. I'll probably end up spending the same amount of cash, but will get fewer coins for it.

My first purchase of the year is going to be the Ultra High Relief Double Eagle. After that, we'll see what happens...!

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