On January 2nd when visiting a local supermarket, a puzzling pattern manifested. The market was completely out of lite yogurt, diet fruit juice, Enlightened ice cream products and their vegetable isle was decimated. It is not unusual for our market to be out of one or more of these products, but to be out of all simultaneously, is very strange. When questioned, the store clerk provided a very logical answer. “We see this trend every year”, he said. “People make resolutions to lose weight and go on diets. We’ll have plenty of all of this stuff by next Saturday.” That thought provoking response made us ponder a different kind of resolution. What if in 2021, we just focused on numismatics without any outside distractions? Further, what if we actually committed to this resolution, not dropping it in a week like a newfound diet? To begin with, this would involve turning off the news, at least until they had something inspiring to broadcast which warranted our attention.
It is downright amazing that collectors have remained so focused over the last nine months despite the obvious distractions. Imagine maintaining that same level of interest without them? These real and hypothetical situations both bode well for the health of the coin market. In all likelihood, at some time this year, political, social and health challenges will all become yesterday’s news. Consumer confidence should also return as businesses reopen, and then, the coin market could REALLY be in for some good times.
We are still in the position where demand for coins outpaces the available supply in the marketplace. The collector who hems and haws, is generally left with an empty hole in their album. Coins are selling briskly, but replacing them is progressively more challenging and expensive. This situation should get better once the world opens back up. The resumption of coin shows and foot traffic in the shops are two important missing components. Their return will change the landscape of the coin market, and in a big way. Holiday shipping delays caused us non-stop headaches for the better part of a month. Fortunately, this situation seems to be improving by the day. At some point in the not-so-distant future, all of these challenges should be in the rearview mirror.
Dollars and gold seem to be pacing the U.S. market, but other series have also seen pockets of strength. No single area in the numismatic spectrum is getting ignored. For those of you that watch our web-store (and/or listings elsewhere) with regularity, we want to assure you that both the inventory levels and selection that you’ve become accustomed to, will return. We really believe that the coin shortages will be short-lived, and the worst should be behind us. We continue to marvel at the dedication, perseverance and resilience of our collector base. It speaks volumes to the strength of our hobby. Unlike the supermarket store shelves that were restocked a week after New Year’s eve promises were abandoned, your resolve and commitment are unshakable. We believe wholeheartedly, that you’ll keep the news muted, and your eye on the numismatic ball. In short, we are not worried. Until next week, happy collecting!