The four coins whose values are anticipated to decrease by the end of 2024

Rare 1776 US Coin Discovered in Toffee Tin Sells for Over $30,000 at Auction. Now, sell them! The four coins whose values are anticipated to decrease

The COVID-19 pandemic brought many changes to lives around the world, including a surge in interest in alternative investment avenues like cryptocurrency, online trading, and coin collecting as people were confined to their homes.

With more buyers entering the market, the value of many of these investments experienced a significant rise. However, as the excitement subsided, the markets began to stabilize, and there are already indications of this correction in the coin collecting domain.

According to Ted Ancher, Director of Numismatics at coin dealership APMEX, the value of rare coins "became somewhat inflated" during the pandemic, as he told GOBankingRates. Seeking coins "sort of reached the highest points they ever reached" in terms of price.

He cites the value of a Carson City uncirculated silver dollar in GSA packaging, which experienced fluctuations before, during, and after the pandemic, indicating how the market is now "resettling." It sold wholesale for around $175 before COVID-19 but saw its price rise to $300 as the virus hit. Currently, it's valued at about $285.

Ancher emphasizes that coin collecting should be approached as a long-term investment, ideally spanning decades, so new entrants shouldn't be overly concerned by short-term price changes. While rare coins generally appreciate in value over time, this growth is usually gradual. However, certain events or market dynamics can adversely impact their value.

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The scarcity of rare coins is one of the main factors that can increase their value. As a result, the value of the same coin with the same date and mint mark may decrease if a hoard—a collection of them—is found. Similarly, if a shipwreck containing vast treasure is discovered, the market may be flooded with coins that were once considered rare.

There were two instances of this occurring in 2023. One was a shipwreck found off the coast of Sardinia that yielded between 30,000 and 50,000 old bronze coins from the first part of the fourth century, known as follis.

Another was "The Great Kentucky Hoard," which was discovered by a farmer and contained over 700 rare gold and silver coins from the Civil War era. According to GovMint, who had the sole right to sell the hoard along with their Scare & Unique Division, it contained “a cache of U.S. gold coins dated between 1840 and 1863 consisting of $1 Gold Indians, $10 Gold Libertys and $20 Gold Libertys—even including a few 1863 Gold Liberty Double Eagles, a super-rare date that is scarce in all grades,”

A Kentucky man found over 700 Civil War coins worth millions buried in his cornfield pic.twitter.com/SbOm6wbf1w

— Historic Vids (@historyinmemes) January 18, 2024