Weekly World Numismatic News for November 1, 2020

Here we are with the election on Tuesday. The numismatic-related news has some stories but nothing of significance. For bullion buyers, the metals market has been active. One analyst called the market schizophrenic while trying to figure out what economic conditions will be.

Another analyst that follows the silver market noted the decline of silver prices since September. Among the reasons is that early buyers of silver are looking to cash in on their holdings. Those who bought last year when the average price was around $18 per ozt have been looking to profit from the spot being over $22. When asked if the price of silver will decline, the response was to ask after the election.

Gold prices have been steadier but have shown a gradual decline since August. A gold analyst reminded me that gold is a safe haven for investors when markets are uncertain. This analyst did not think the markets will see certainty after the election. Their firm is telling clients that regardless of the outcome of the election, the lame-duck Congress will create a lot of infighting that will spill over into the markets.

The value of many modern collector coins is dependent on the value of the metals. Those coins will see their values fluctuate with the market. Unfortunately, none of the analysts consulted predicted stability in the market. They suggested that unless you had to sell that you might wait. One recommended setting a high and low price for buying and selling but would not recommend the spread.

Regardless of what you choose to do with your investment coin, be prepared for a bumpy ride because none of the analysts would predict any stability for the next six months.

And now the news…

 October 24, 2020

For almost three thousand years, humans have been using coins as payment. As that winds down in an increasingly cashless world, let’s take a look at how the Vikings dealt with money.  → Read more at lifeinnorway.net

 October 25, 2020

A man with a metal detector has found a long-hidden, 222-year-old coin under a few inches of soil outside a church in Maine. Shane Houston, of Charlotte, North Carolina, was on a metal-detecting trip with a friend from New Hampshire when he found the coin earlier this month, the Bangor Daily News reported.  → Read more at wbtv.com

 October 27, 2020

A rare King Harold II coin dating from 1066 that was found by a metal detecting teenager has made £4,000 at auction.  → Read more at bbc.com

 October 27, 2020

The Bank of Lithuania minted the first euro piece of currency containing Hebrew letters. The 10-euro coin was minted on Tuesday and is a limited-edition commemorative collector’s item celebrating the 300th anniversary of the birth of the Vilna Gaon, the 18th-century rabbinical luminary Elijah ben Solomon Zalman, who lived and died in the Lithuanian capital of Vilnius.  → Read more at jpost.com

 October 29, 2020

Heartbreaking message behind new $2 Aussie coin. Source: Royal Australian Mint  → Read more at au.finance.yahoo.com

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