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…