2017-09-20 Wed

The value of gold reached $1,350 an ounce on 8th September which was the highest number recorded this year. There has been an increase by 10 percent since July. The value of gold increases when there is political instability and uncertainty. Other reasons include two major hurricanes that hit the southern states, the nuclear aggression of North Korea etc. That’s the reason why investors are putting their money on hard assets. Stocks are also increasing since the Federal Reserve might increase interest rates to tackle unemployment, consumer income and consumer spending etc.

Many investors don’t want to take the high risk at current soaring rates and are also facing low bond returns. They are not really sure about gold with its volatility. Collectible assets like rare coins could become a more popular choice.

The September Long Beach Expo offered U.S. coins, paper money and world coins by Heritage. Pre-show auctions were held by Bonhams and Ira and Larry Goldberg Auctioneers All three Auctions fared very well.

Auctioneers are offering sellers reduced seller fees and “hammer plus” arrangements. This makes selling at auction more attractive for liquidating collections. Central Ohio Numismatic Association’s annual Labor Day weekend coin show tried to attract dealers, collectors, and new hobbyists. Innovative marketing and advertising strategies are being used to lure the buyers. People are going to local coin shops and shows. Online and smaller auctions are picking up in between the shows whereas new buyers are contributing towards the healthy market.