Coin Collecting Industry on the Rise Long Time Has Passed  

Over the past few days, there have been some truly remarkable headlines. Among these is the selling of a silver dollar from the year 1804 for the amount of $3.36 million. A total of $23,636,374 was obtained from the sale of the coin collection owned by Utah Jazz owner Larry H. Miller.  

In addition to this, it was recently reported that the United Numismatists of Florida auction that will take place in January will feature one of the only twelve known silver center cents from the year 1792.   

What this demonstrates is the robustness of the demand for rare coins. Moreover, it demonstrates this to the general public as well as the collecting public, which is of greater significance.  

Expanding or contracting the hobby is one of the two possible paths it might take. It is not going to remain unchanged. Accessing the news is necessary, followed by determining when it will attract the attention of the general audience and when it will not appeal to them  

Despite the fact that the 1921 Silver Dollar Coin Anniversary Act (H.R. 6192) has captured the attention of the coin collecting community, it is less likely that another commemorative currency that does not circulate as legal tender will contribute to the expansion of coin collecting.   

On the other hand, the Coin Metal Modification Authorization and Cost Savings Act of 2020 (H.R. 7795) is expected to attract the attention of the general public. Possibly, this is some good news. The activity is becoming more popular.

Additionally, as was previously discussed, the heavy-hitting scarce to rare coin sector continues to rise, while the bullion-impacted coinage sector has finally settled into a trading range that is reasonable. For the most part, there is still a lot of demand for all of those coins that fall somewhere in the middle where they are desirable but not very rare.  

Just where are we? At this moment, the market for coin hobbyists is the most robust we have seen in past years. In order to maintain this level of success, expansion is essential. At this moment, expansion appears to be promising.   

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