Nov 4th, 2025 · 3 Minute Read
This past week, the rare coin and precious metals markets saw sharp swings followed by a stabilization phase.
Gold briefly dipped below the $4,000 mark early in the week but rebounded to finish near that critical threshold, while silver demonstrated notable strength, climbing back toward $49 per ounce.
Throughout the week, rare coin activity remained resilient, with selective buying and solid liquidity, especially for classic and pre-1933 U.S. gold coins.
Major drivers included shifting risk sentiment and persistent supply strains in the physical silver market.
For collectors and investors considering sales, firm premiums and stable dealer liquidity present constructive opportunities, although timing remains key as market volatility can meaningfully impact realized values.
The week began on Monday, October 27, with a pronounced downturn in both rare coin and precious metals markets.
Optimism surrounding a possible U.S.–China trade agreement led to a surge in risk appetite, reducing demand for safe-haven assets such as gold and silver.
Gold spot prices fell over 2%, breaching the psychological $4,000 threshold and reaching as low as $3,991 per ounce during the session, marking the largest single-day decline in over a decade.
COMEX December gold futures also dropped nearly 3%.
Silver mirrored this weakness, falling over 4% intraday and settling near $46.61 per ounce before closing at $48.20, down from all-time highs earlier in the month.
The gold-to-silver ratio fluctuated between 80 and 85, highlighting silver’s relative volatility.
Despite the correction, physical demand for both metals remained robust, particularly in Asian and Middle Eastern markets, while U.S. rare coin demand, though elevated, was more measured compared to previous periods of market stress.
The strengthening U.S. dollar and profit-taking from recent record highs further compounded the pullback in bullion prices.
On Tuesday, October 28, the correction continued, with gold closing at $3,994.97 per ounce and silver at $46.93.
Both metals had fallen sharply from their recent all-time highs, driven by concentrated profit-taking as traders locked in gains.
Despite these declines, year-to-date gains remained impressive, with gold up nearly 50% and silver 63%.
Physical markets showed diverging trends: London gold bar premiums surged on rebalancing, while European silver dispatches jumped, reflecting persistent supply tightness.
The ongoing U.S. government shutdown created a data blackout, increasing reliance on private and international economic metrics.
For rare coins, the rally in bullion earlier in the year continued to support high-end U.S. gold and key-date silver dollars, though buyers displayed greater selectivity in response to the rapid appreciation of the sector.
By Wednesday, October 29, volatility persisted as gold traded at $4,016.13 per ounce, slightly down, until closing at $3,965.81 while silver rose 1.4% to $47.81.
The Federal Reserve announced a 25-basis-point rate cut to 3.75–4.00%, and signaled an end to balance sheet reductions, which supported a rebound in both metals.
The government shutdown and lack of fresh economic data heightened uncertainty, but it also reinforced gold’s status as a hedge.
Silver’s rally was further underpinned by robust industrial demand and continued supply deficits, with a projected shortfall of 470 million ounces for the year.
In the rare coin sector, modern issues such as the 2025 Lincoln cent were flagged for potential scarcity due to low mintages and production pauses, increasing their appeal to collectors.
Thursday, October 30, saw notable intraday volatility.
Gold traded between $3,947 and $3,994, closing at $3,953.17, while silver finished at $47.82 following a brief rally.
The gold/silver ratio narrowed further to 82.67 as silver outperformed gold.
The physical supply squeeze in silver, fueled by industrial demand and lagging mine output, continued to support high premiums and strong price action.
The Federal Reserve’s policy shift and announcements of U.S.–China trade concessions contributed to a risk-on mood, though institutional buyers largely adopted a wait-and-see approach.
Rare coin market makers reported steady buying and wider spreads, with a focus on investment-quality U.S. and European gold coins.
On Friday, October 31, gold rebounded to close at $4,040.35, gaining 2.16% for the day, while silver outperformed with a 2.62% rise to $49.11.
The gold/silver ratio tightened to 82.28. The market digested the Fed’s dovish yet hawkish messaging, which contributed to mixed sentiment.
The ongoing U.S. government shutdown, now in its 30th day, reinforced the haven narrative for precious metals.
Silver’s technical indicators remained neutral, suggesting room for further movement.
As the weekend arrived, gold and silver retreated slightly from their highs.
Saturday, November 1, saw gold at $4,003.35 and silver consolidating just below $49, as the U.S. dollar staged a technical breakout, pressuring further gains in precious metals.
Rare coin market sentiment grew more cautious, with buyers focusing on scarce, high-grade material and shying away from overvalued modern issues.
The broader market appeared to be entering a consolidation phase after the year’s historic rally.
On Sunday, November 2, gold held steady at $4,003.35 and silver at $48.67.
The rare coin market continued to consolidate, with subdued sentiment and a focus on price stability.
The recent U.S. Federal Reserve rate cut and a signed U.S.–China trade deal added to the mixed outlook.
The U.S. dollar’s ongoing rally, with the DXY index nearing 100, has prompted analysts to forecast a possible extended correction in precious metals.
While trading volumes for physical metals have normalized, interest remains elevated at these historically high price levels.
For rare coin holders, this environment underscores the importance of timing and selectivity, as liquidity remains solid but market enthusiasm has tempered.
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Wyatt McDonald President & Co-Founder of Coinfully. A student of numismatics and trained in the ANA Seminar in Denver, Wyatt is the face of Coinfully and a true expert. After spending a decade buying coins over the counter at a coin shop, he knew there had to be a better way, for everyone involved.
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