The year 2024 is set to face political and economic uncertainties, particularly due to U.S. government spending in regions like Ukraine and the Middle East, Numismatic News reports.
These geopolitical factors contribute to the unpredictability of the economic landscape, which can indirectly affect the market for rare coins.
The Effect of Economic Challenges on Investing in Coins
In economically challenging times, collectible coins are often sold to cover necessary expenses.
An expert in the field from Numismatic News stated, “Numismatic purchases are discretionary,” meaning their acquisition often comes after essential needs. This suggests that in tough economic periods, the sale of collectible or rare coins could rise to support basic living costs.
The Impact of Debt and Job Market Trends on Coins
Rising debt levels and a shifting job market could influence the rare and collectible coin market.
Numismatic News reports that the increase in default rates on loans and the trend towards part-time jobs may lead to more people selling or investing in rare coins, affecting their market value and availability.
Potential Surge in Gold and Silver Coin Demand
Amid economic uncertainties, gold and silver coins might become more attractive to investors. This is partly due to the declining purchasing power of the U.S. dollar. According to CBS News, investing in gold can be a good way to diversify your portfolio of investments.
Numismatic News suggests, “There could be a surge of buying interest, especially for gold and silver,” indicating these precious metals might see increased demand in the collectible coin market.
Early $5 Gold Pieces
The Early $5 Gold Pieces, particularly the 1798 half eagle with a small eagle reverse, are expected to see a significant increase in value.
With starting prices of $15,000 for lightly circulated pieces, GoBankingRates reports an “insatiable demand for the 1798 half eagle with a small eagle reverse.”
Liberty Head Double Eagles
Type II and III Liberty Head Double Eagles are forecasted to be highly sought after, especially those graded Mint State 60 through 63.
GoBankingRates highlights their rarity, stating these coins are “considerably rarer than Saints in mint condition.” An 1889 S Liberty Head double eagle graded MS-63 is valued at around $3,900.
“Scare-Date” Morgan and Peace Silver Dollars
Morgan and Peace Silver Dollars, particularly the 1886-S Morgan and 1928 Peace dollars, are expected to be in high demand.
Available in MS-63 for about $1,000 each, these coins have seen “consistent demand,” according to GoBankingRates,suggesting their value could further increase in the volatile market of 2024,
Mercury Dimes of the 1940s
1940s Mercury Dimes, especially those graded MS-67 with full bands, are poised to command high prices.
GoBankingRates states that these coins are known for their potential to achieve “outrageous prices.” They are a favorite among collectors and could see a surge in value given the economic conditions of 2024.
The 1909-S Lincoln Cent
GoBankingRates reports that the 1909-S Lincoln Cent is another rare coin expected to spike in value.
Extremely fine or better-conditioned pennies can fetch about $200, while the scarcer Mint State-63 versions might sell for several times as much.
Franklin Half Dollars
Franklin Half Dollars, particularly those graded MS-66 or higher, are anticipated to see significant value increases.
Despite there being no major rarities in this series, error versions with subtle details missing can command “substantial premiums” in higher grades, per GoBankingRates.
Preparing for a Volatile Coin Market in 2024
Given the expected volatility, collectors and investors in rare coins should prepare for potential swings in value.
The market for these collectibles will likely mirror the broader economic trends, making it crucial for enthusiasts to stay informed and strategic in their collecting and investment decisions, Numismatic News suggests.
Opportunities in the 2024 Collectible Coin Market
GoBankingRates reports that the collectible coin market in 2024 is set to offer a range of opportunities for collectors.
From the Early $5 Gold Pieces to the Franklin Half Dollars, each rare coin has its unique appeal and potential for value increase, making the upcoming year an exciting time for collectors and investors alike.
