NN: "Coin Business Resilient in the Face of Coronavirus"
Goldbully
Posts: 17,990 ✭✭✭✭✭
Wasn't this the same NN author claiming that the CV-19 was hammering the coin business a couple weeks ago?
Coin Business Resilient in the Face of Coronavirus
Posted on April 17, 2020 by Richard Giedroyc
The business of coins is proving to be surprisingly resilient in comparison to much of the non-essential business market during this period of the coronavirus pandemic. Despite that observation, there are still two sides to the coin story.
Collectors and investors looking to buy gold and silver coins as a hedge against the recent declines in the stock market are finding premiums for bullion impacted coins to be much higher than might be expected under normal circumstances. While dealers are making this market, there is a significant shortage of bullion and bullion-impacted coins to fill orders. Part of this is demand outstripping supply. Since many mines have been shuttered due to the pandemic, there isn’t much “fresh” gold available in any form.
(cont'd in link)
https://www.numismaticnews.net/article/coin-business-resilient-in-the-face-of-coronavirus
Comments
In my area, there is nobody coming in to sell, the are scared to come out and to the shop. Lots of shops are closed because of the stay at home order as well. No silver coming in, nor will I buy it at the high asking prices form the national firms to try and resell to customers, as they wont go that high.
as I mentioned in a prior thread, only thing I have bought an ample amount of was 1 oz gold, but im having to ship it all, no local buyers. We suspended buying scrap gold jewelry momentarily because the two places we sell it , are closed up. plus, its likely stolen anyway.
Internet sales IMO have been strong, but I am literally out of coins to offer at this time.
Wasn't this the same NN author claiming that the CV-19 was hammering the coin business a couple weeks ago?
You are absolutely right! They should stick to just telling us what Cliff had for breakfast.
Member ANA, SPMC, SCNA, FUN, CONECA
It's time to separate numismatic coins from bullion coins and jewelry. They are different products and sell to different markets. Some coin collectors may also be "stackers" but many are not. Jewelry is a different ball game. I personally never cared at all about jewelry except how much I could dump it for quickly.
“Wasn't this the same NN author claiming that the CV-19 was hammering the coin business a couple weeks ago?”
Then, he read your thread? Never too late to change your position- right?
Wondercoin
I'm betting they were talking more about shows, which have pretty much been scrapped.
From what I've seen, the internet auctions have been decent for the material I'm tracking.
10-4,
My Instagram picturesErik
My registry sets
My fav lcs is closed although he created an online store and he does a 7pm Thursday evening sale email. Doelgers Gallery of coins NJ. I wish him well. Peace Roy
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No shops, no shows.... Nothing different for me...
See guys and gals? Now you know why I like show reports... and I am not getting any of those now.... 
Oh well, this too shall pass....meanwhile, got stuff to do... setting up my indoor laser range today.... How cool is that?? 
Cheers, RickO
I consider him a really good market analyst.
Online is strong which his article confirms. His prior article focused more on the numismatic infrastructure - shows, etc shutdown. Has PCGs reopened? Is NGC open? CAC?. Definitely demand will be dragged down by people out of work, depressed, concerned for future, and coming bankruptcies / defaults. However there are well heeled buyers remaining if the deal is right. Series which are affordable to most (Franklin Halves) will continue to see demand.
For me the canary in the mine are certain online bay sellers I follow which offer nice auctions / slabbed stuff in addition to my auctions and bin sales. Concern: Like 89 the bigger (ticket) they are (vs BV) the harder they can fall.
As the country opens up, cases will go up. The real test is whether unemployment and a lack of unemployment funds will go hand in hand. If they do, things will get hard.
Good stories for online coin dealers. Some online dealers purchase inventory online as well which would make it easier for them.
@ricko pics of the indoor laser range please
@ThreeCentSilverFL....Nothing fancy....just using Drifire and also a secondary Laserlyte targets....Drifire has an app that can record your hits....So I just set it up either in the living room or cellar...depending on whether my wife is busy with online teaching or not....it is a portable set up, so easy to do. Good for practice though and better than just plain dry firing since it can be recorded.....Cheers, RickO