Business Picks Up in Final Weeks of Year|
November 25, 2013
Last month I presented a subdued picture of the coin market. Now things are a little more upbeat. Setting up at the Whitman Baltimore Expo there was a record number of dealer tables. For years 400 was a barrier. This show was 423 tables. Remember that many tables have two different dealers and some have three or four so there might have been 1,000 dealers. In the past month I have set up at Lakeland, Fla., Sarasota, Fla., and Chattanooga, Tenn. Sarasota was slow. The other two were reasonably well attended and sales were good to brisk. The current number of major auctions is contributing to a lot of positive buzz.
Overall the coin market remains healthy. One of the weaker 20th century items, the 1909-S VDB, has had some robust trading activity at the above mentioned shows with at least a dozen changing hands of which I have firsthand knowledge. In fact, several changed hands wholesale at better than current bid levels and immediately went into long-term collector/investor holdings. There also seems to be renewed interest in early uncirculated Lincoln cents in general and that has resulted in or may be the result of increased dealer bids for uncirculated Indian cents in mid-grade Mint State.
All the Eagle prices for silver, gold and platinum have been updated. Premiums are steady to slightly higher and many of the scarcer issues continue to enjoy gains as the popularity of date set collecting, especially in the silver, continues to grow. While I have always been a proponent of earlier U.S. coinage, I have come to the realization that while they are modern Mint products their popularity is here to stay and I can with good conscience recommend the series to those who ask me what is a good thing to collect for kids or grandkids. Though the Eagles violate my rule of avoiding anything made to sell to collectors, they are beautiful works of art, popular and reasonably priced compared to the metal content. Someone with deep pockets and reasonable numismatic knowledge also might assemble a Morgan dollar set, or a complete set of U.S. type coins. Many newer collectors who were attracted to silver Eagles have gone further as they gained knowledge and pursue the forerunner of silver Eagles, the ever popular Walking Liberty half dollars.
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