While the world slowly works its way through what we hope to be the end of this pandemic, it is hard to fathom how not only things have changed, but how they ever were before this last year and a half. Moving through the complications of the pandemic and moving forward, the numismatic hobby somehow made its resurgence.
“For whatever reason, the pandemic caused the collectibles industry to catapult,” said Andy Abel, The Coin Vault’s show host. “It’s exciting to see but it also makes you kind of leery. It begs the question of where is it going to go? We were doing okay before the pandemic, but this hunger is unlike anything I’ve ever seen.”
But as the specifics of numismatics go, there is more to consider when talking about its revitalization.
“I think what the United States Mint has done has also contributed to this increased interest in what we do,” Andy stated. “They are thinking out of the box and the variety has been nice to see. For example, the American Liberty Gold Coin they will be releasing in mid-August. It’s nothing like I’ve ever seen from the Mint but it also lends itself to those more traditional designs with the reverse.”
As the Mint continues its path towards a more diverse way of thinking in terms of products, Andy also believes that their success is also due in large part to the Mint Director’s second term taking off.
“Director (David) Ryder’s second term has really been a turning point,” Andy claimed. “You can tell he really has an appreciation for the job and he’s allowing the designers and engravers to be more creative in their approach to United States coinage and numismatic products. Which is great for us, yes, but it is also great for all the collectors out there. I think he’s done a standup job pushing past the dial and seeing what they can come up with.”
However, it’s hard to ignore how the COVID-19 pandemic made its impact in every facet of life, including the way the market and precious metals swayed up and down and over again. While that indirectly affects what we do numismatically speaking, the mindset through it all, regardless of the uptick in interest, never faltered before, during, or after (or more specifically the tail-end) of the pandemic.
“It didn’t really change my mindset to be honest,” Andy said. “While I know that we have been extremely lucky here in small town Indiana, it didn’t change the fact that I always wanted to stick to what we do best. That is offering the best coin at the best price on air. That’s our duty.”
To make the hobby even more interesting, the Mint’s decision to change the reverse design of the American Gold and Silver Eagle program could not have come at a better time. While years in the works because of anti-counterfeiting measures in addition to the 35th Anniversary also in the spotlight, interest for the program has begun a new life.
“Since its beginnings all the way back to 1986, the secondary market premiums we are seeing for the Type 2 presale have never been higher,” Andy proclaimed. “Now while the pandemic still going on has certainly affected that price as well, I still believe that if it had never happened, the premiums would have still been higher than normal. It’s remarkable.”
As the Type 2 American Silver Eagles are nearing their release in the bullion edition as well as the Proof, Andy believes that it will be much more difficult to get the Type 2 Silver Eagles than people realize.
“Obviously the production of them is on a smaller scale just because of the year being cut in half for starters,” he said, “but you also have such a high demand for silver in the world right now. It makes you wonder how they (the Mint) are going to get their hands on it. It also leads to speculation that their production schedule may look different by year’s end than it does right now. There are a lot of questions.”
But as we continue into the latter half of 2021 with high hopes of some sense of normalcy in general, we also look hopeful for the state of numismatics.
“The new releases and all the new products are a sign that the future is very bright,” Andy said. “The industry is strong right now. If a global pandemic didn’t stop it, I’m not sure what else could at the moment. We are following the signs and it makes for a brighter future here at The Coin Vault as well in terms of continuing to sell products, but also for progression and continued growth for our business."