Editor's Message: Red Book Quarterly Summer 2026

Back at the outset of 2026, more than a few market participants and commenters were not sure which direction the market would go.

There were reasons for this uncertainty: the record gold price was creating cash flow difficulties and severe backlogs at refineries while curtailing demand; the collectibles markets were looking overbought and frothy; and lingering geopolitical uncertainty. It is very interesting what has transpired thus far. The market—in particular, buyers—have adjusted to the new normal of roughly $4,500 gold and $75 silver and are willing to now buy at these indications. Previously there was trepidation that these prices were a temporary spike and buyers were afraid of getting left holding the bag if prices were to fall.

With regard to gold spot, it seems like we could be in a period of consolidation before another leg higher. On the rare coin front, each major (and sometimes minor) auction that passes sees new price records set for individual coins, and every show that I’ve attended there has been no slowdown in dealer-to-dealer business. This is despite the United States direct involvement in conflict that has seriously disrupted energy prices. As I am sure many have experienced, higher energy costs carry a lot of psychological weight in the minds of consumers and can cause a pullback in all spending. Yet the rare coin market has been resilient. It is the continuation of a long-term trend that has taken decades to establish: that rare coins are an asset that can be held for a long period of time and that can hold their own with other asset classes. Going forward, there is a likelihood that the U.S. dollar is going to find itself in a crisis, which will only fuel tangible asset prices. The main problem then will be supply, because coins will disappear off the market at a rapid pace.

Here at Whitman, each passing quarter is highlighted by new releases, both books and new collecting supplies. Perhaps the timeliest recent publication is our Red Book Series: Lincoln Cents, 5th Edition. The book delivers significant historical information and context, even more relevant now that this widely collected coin is no longer in regular production. It also contains an entirely updated suite of pricing, including for many coins that were not priced in previous editions. Numismatists who are not focused on this series might be surprised at what some later issues are worth in very high grade. We have also been continually expanding our Prestige line of coin albums. Now in addition to the regular colors of black and burgundy, we are now offering select series in blue and brown. We feel this provides collectors maximum flexibility on how they want to organize their holdings. On the tech side of things, I highly encourage all subscribers to utilize the newly rewritten mobile app. It is much faster, and there are more options that can be customized in terms of how items are displayed in the various screens. We continue to forge ahead with building out our world coin database and we hope to be able to offer some exciting world coin titles in the future.

Sincerely,

Patrick Ian Perez, patrickp@whitmanbrands.com