Editor's Message: CPG Market Review Fall 2024

It seems impossible that this is the final 2024 issue of the CPG® Coin & Currency Market Review. While there are always many stories that make up a year, by far the most dominant one has been the incredible performance of gold. Through early August, the gold spot price is up 17.3% since January 1. For many years, the magic number was $2,000 per ounce, with the yellow metal approaching but never fully reaching and crossing that line. Late last year it finally got there, with gold closing 2023 at $2,073.60. Since then the price has quickly surpassed $2,500 at times throughout the year. As I write this the spot price sits at $2,487.50. With gold this high, there are always the requisite news stories and other media attention which usually highlight the reasons individuals invest in gold. For long time holders of gold bullion, it is a great time in which their investment convictions are fulfilled. However, there is a dark side to the gold market, which still, despite the amount of information available, persists. There have been recent stories, particularly in my home state of California, of fly-by-night “gold investment firms” (who heavily advertise via mainstream media channels) that have taken significant amounts of customer money and then essentially disappear. It is immeasurable the amount of damage these situations do to the wider rare coin and bullion business, to the majority of reputable dealers. Often, if a family member, friend, or co-worker who does not have experience but does have an interest in buying physical gold, you as a coin collector will be the first person they go to—even if your only interest is Capped Bust half dollar die varieties. One of the tools you can point them to is this very magazine. The CPG® is specifically tailored to collectors so that they can find a solid, research-based value for a given U.S. coin. This provides a baseline from which to buy. One of the problems with the aforementioned gold telemarketing firms is that they push high-premium gold coins, often products of the U.S. Mint. Now, these coins and sets are perfectly fine for those who wish to collect them and understand how they derive their value—and their possibility to fluctuate in price. But for an individual with little collecting experience who strictly want to own gold as a safe haven, these are not the right coins. Specifically, this is why we print the gold spot price—along with silver, platinum, and palladium—at time of publication on the cover. By comparing the gold price with the values listed for modern gold bullion on pages 97 to 99, one can quickly see which coins carry the largest premiums. And moreso, our online pricing tool at greysheet.com is updated hourly with the latest feed of the precious metals spot prices. The rare coin and bullion market always has been and always will be caveat emptor, but we at Whitman Brands strive to create tools to make the most informed buying and selling decisions.

Speaking of gold coins, this month’s feature article covers a broad topic that has gradually gone from being mostly overlooked to the major driver of growth in the coin business: modern coinage. Outside of American Silver Eagles, many collectors view moderns as a gimmick, perpetrated by the U.S. Mint or the grading services. This article, along with our upcoming release of The 100 Greatest Modern Coins, may convince many collectors otherwise!

Sincerely,

Patrick Ian Perez, patrick@whitmanbrands.com