I've been thinking about this a lot lately. I began collecting gold coins, mostly world and mostly older and collector type coins not modern bullion type coins, since 2005 and since then gold prices has been on a very strong upward cycle so I've never really been through a bear gold market. I actively monitor the prices of gold coins of the type that interest me and are in or hope to add to my collection and its obvious to me that prices have risen substantially on some coins but not on other coins. In other words the huge rise in gold bullion prices has not affected the price of all collector coins the same.
With that said, I know numismatic values of world coins, or any coins for that matter, rise and fall based upon supply and demand due to popularity, collector base wealth changes, etc. and wouldn't expect that collector coins rise and fall in price across the board. I am thinking that because of the huge media and investor coverage of the rising gold prices that not only should collector coins rise in price due to bullion value but numismatic value should also rise because of all the focus on the bullion price.
The question I pose to everyone is ...
Knowing that the "bullion value" of a collector gold coin obviously rises with the market; does a rising bullion value have any real effect on the "numismatic" value of coin coins?