The rare coin market is as exciting as it is confusing. There is no certain method of telling how well or how bad the market will be. And since investors and collectors value rare coins in different ways, it is difficult for novice rare coin enthusiasts to decide how to start their collections. Still, novices and experts alike must consider several likelihoods before buying rare coins in 2013.
Silver Will Shatter Records
All things considered, Silver has already shattered records these past few years. In January of 2013, nearly 7.5 million ounces of silver coins were purchased by investors and collectors from the US Mint. This was true even after a two-week suspension of sales of the American Eagle silver bullions. This sale broke the all-time record of 6.1 million, which happened in January of 2012. If the trend continues, silver may set more impressive records on sales and prices later this year.
Metals Will Impact Sales
The improving economy has allowed both collectors and investors to value coins based on rarity and type. However, an improving economy does not translate to a stable economy. So there is still some uncertainty about inflation and rising debts.
Unfortunately, uncertainty does not fare well in any financial market. So to protect themselves against possible downturns, collectors are now looking at precious metals to diversify their investments.
Precious metals may not always hold their own on auctions, but they are great for liquidity purposes. Furthermore, metals are easier purchases for novices because their value remains relatively consistent. This is unlike purchasing rare coins wherein dealers and collectors have to constantly look up prices. And considering that prices for precious metals have dipped in recent months; now may be the best time to purchase them.
Quality is Still Key
Rare coins may increase in sales in 2013, but the sales will be highly dictated by quality. Buyers are pickier this year because they want to make sure that their purchases give good returns. So aside from liquidity, buyers are also looking for high quality and eye-catching pieces. Grading will play a huge part in sales and purchases, so novice buyers need to learn grading to become successful in the field.
Crimes Related to Rare Coins Will Increase
Any profitable venture will attract those who will use any means to take advantage of it. This is also true for the rare coin business. Recently, several robberies relating to numismatic coins have been reported. These incidents may rise especially since the general public is slowly learning about the true value of rare coins.
In addition, cybercrimes relating to the coin business may also rise. Many coin dealers and collectors are using the internet as an avenue for their deals. So incidences of online fraud may increase.
Rare Coin Applications Will Gain Popularity
A lot of people who connect to the internet do so via their mobile phones and gadgets. Because of this, numerous applications have been developed to improve the lives of those who are constantly on the go.
That said, the rare coin market will benefit greatly from mobile applications. Rare coins are difficult to deal with since their prices are constantly changing. With mobile apps, people can instantly look up prices and coin rarity. This will make the buying and selling of rare coins faster and easier.
World Coins Will Make an Impact
World coins are storming the market. This is because complete and updated information are being released about them. In addition, world mints are now issuing new and interesting coins that are lower in mintage compared to some US minted coins. These and other factors have helped increase the demand for world coins.