The Business of Numismatics: November 2026 Greysheet Editor's Letter

Readers will be pleased to observe a significant amount of pricing updates in this month’s issue, possibly the greatest number of individual changes in the eight-year history of the Monthly Greysheet. While a good portion of these are driven by gold and silver prices, there are many updates to collector coins as well. The rare coin market so far in 2026 has been somewhat volatile, with greater price swings happening over a shorter period of time when compared to historical norms. These price swings, of course, have been mostly to the upside, but there have been some head-scratching price realizations to the downside as well. The most obvious trend in the coin market right now is how demand, and thus dealer’s attention, has moved in a very different direction than prior years. This has been fueled by how quickly the marketplace for collectibles has shifted. The live selling platforms now have significant market share, and if one were able to gather all transaction history from those sources it would likely reflect an average sale amount in the range of $25 to $100. These buyers, mostly neophyte collectors, are buying circulated type coins, smaller silver coins, and low cost slabbed modern coins, and the supply has not necessarily kept up with demand.

Starting in copper coinage, this month reflects increases in later date Large Cents in Very Good to Very Fine, while Indian cents show increases across the board. Lower grade Two-Cent Pieces also get a bump. Liberty Head nickels, a long dormant series, see numerous price increases; the same goes for Three-Cent nickels. Liberty Seated dimes and quarters, of which there is always steady demand, get increases in grades up to Very Fine, along with Twenty-Cent Pieces, which increase across the board. Common date Walking Liberty half dollars in Mint State also gain slightly, while another perennial in-demand series, Draped Bust dollars see widespread price increases. A handful of slightly better date Peace dollars have also been bumped up. All of this reflects the robust wholesale market that has defined 2026 thus far. It is an interesting phenomenon, because while dealers are on the constant search for inventory, prices have never been higher for the average collector. Just from personal experience, I recently wandered in to one of the larger coin shops in my area to pick up a few gifts and was quite surprised at some of the asking prices for relatively common material. The shop was bustling with multiple customers buying and selling, however. It is perhaps a legitimate referendum on the dollar, as people look to diversify out of cash and into something tangible, regardless of the price. It is also a case of fear of missing out, as many new collectors anticipate their collection increasing in value, even if that thought is not necessarily grounded in any logic.

The next major market event is the Heritage GACC Signature U. S. Coin auction, which features a major rarity in the PCGS MS68 1792 Half Disme. Vividly toned and tracing to a 1988 Stack’s sale as "Property of a New England Museum" this historic piece features a curious additional pedigree on the PCGS holder. Whether or not this exact coin was once owned by the Rittenhouse family, it is an amazing piece and appropriate to sell in this Semiquincentennial year.

Sincerely,

Patrick Ian Perez, [email protected]

Cover art by Sam Crow, adapted from Leonebel Jacobs's 1918 poster 'Win the Next War Now.' Original image source: Princeton Poster Collection, National Museum of American History, Smithsonian Institution.