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Navigating the Numismatic Market in 2024, a Year of Transition and Treasure

By Silvano DiGenova, CEO Tangible Investments

In a market that doesn’t experience extreme volatility, collectors should consider focusing on “blue-chip” coins, particularly early American gold coins and those struck before 1835.

As we look towards 2024, coin collectors and investors should brace themselves for a year of transition, largely shaped by economic currents and geopolitical winds. The numismatic market is often reflective of broader economic trends, and in the United States, the prevailing economic uncertainty is poised to play a significant role in determining the trajectory of coin collecting and investing.

A tepid global economy will undoubtedly contribute to the dynamics of the coin market. Should economic circumstances deteriorate, it could paradoxically lay the groundwork for a solid upturn in the numismatic market. This potential rally, however, will rely heavily on the price of gold, which has been hovering around $2,000 per ounce—a five-year high. If gold maintains or exceeds the $2,000 mark, it is well-positioned for quite a run.

 Geopolitical instability, compounded by the anticipation of the upcoming election year, is likely to impact both the numismatic and gold markets. In such times, coin collectors might find themselves at a crossroads, evaluating the best investment opportunities and trying to sidestep potential missteps.

Silvano Degenova Portrait

Investment opportunities in 2024 are expected to be lucrative for those who navigate wisely. In a market that doesn’t experience extreme volatility, collectors should consider focusing on “blue-chip” coins, particularly early American gold coins and those struck before 1835. These coins are not just remarkably rare; they are also in high demand and tend to perform well in almost all market conditions.

Another avenue worth exploring is key and semi-key date Morgan Dollars, especially those with deep mirror proof-like qualities. Currently, these coins are undervalued, making them a ripe opportunity for significant returns. For example, while a common date Morgan Dollar from 1885 in mint state 65 might have a population exceeding 21,000 coins, and a value around $200, an 1885 deep mirror proof-like Morgan Dollar boasts a significantly smaller population of just 560, with only 200 finer. These deep mirror proof-like dollars are 37 times rarer than their standard counterparts but only trade at 5 times the price. Given their aesthetic appeal and rarity, they are primed to see a very positive return on investment.

1880-O $1 Morgan

1880-O $1 Morgan

PCGS
MS64 DMPL
$7,975

1886-S $1 Morgan

1886-S $1 Morgan

PCGS & CAC
MS64 DMPL
$12,000

1881-CC $1 Morgan

1881-CC $1 Morgan

PCGS & CAC
MS66 DMPL
$7,000

1887-S $1 Morgan

1887-S $1 Morgan

PCGS
MS64 DMPL
$8,950

1881-CC $1 Morgan

1884 $1 Morgan

PCGS & CAC
MS65 DMPL
$7,500

1888 $1 Morgan

1888 $1 Morgan

PCGS
MS66 DMPL
$9,500

1885 $1 Morgan

1885 $1 Morgan

PCGS & CAC
MS66 DMPL
$3,975

1888 $1 Morgan

1888 $1 Morgan

PCGS & CAC
MS66 DMPL
$15,000

Coin collectors must navigate 2024 with caution to avoid costly mistakes. Consulting with numismatic experts before making a purchase is essential. The aim should be to acquire coins at good value, ideally targeting a purchase price between 15-20% above the true cash value. A common pitfall for collectors is paying multiples over the wholesale value, which can lead to significant losses.

In conclusion, while 2024 promises to be a year of transition for coin collectors, with the right guidance and a strategic approach to investing in rare and undervalued pieces, it can also be a year of exceptional opportunity. Whether through the acquisition of early American gold or deep mirror proof-like Morgan Dollars, there is potential for substantial investment returns, provided collectors remain vigilant and informed.

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