Silver Dollars Make Comeback at FUN|
January 17, 2014
The bourse was sold out, attendance was high and sales were brisk at the Florida United Numismatists (FUN) show in Orlando Jan. 8-12.
“Silver dollars are back in fashion,” said Andrew Reiber of Jade Rare Coin, Grand Rapids, Mich., with people looking at better dates more than common dates.
Reiber said it was the strongest activity he’d seen in silver dollars in over a year.
“Dollars were the main driving force,” he said.
And the coins were selling for good prices.
“Silver dollars are such a big part of the coin business, if dealers came to the show with a lot of silver dollars they did very well.”
Collectors who bought silver dollars in the 1990s when silver was cheaper put together type sets in good and very good, Reiber said. Those same collectors are now upgrading at least one of their type sets to fine or extra fine, he said.
“Eye appealing, very attractive coins were selling,” he said. “A really nice extra fine Barber half, that was a very easy coin to sell at the show. That’s what collectors were looking for. A Seated or Bust with a nice look, that was very desirable.”
The weather may have kept some collectors away, he said, but dealer business was active and “everyone was very positive about the market.
“The bullion market being up some at the show helped,” he said.
Michael Hauser of Hauser’s Coin Company in Lakeland, Fla., said business was good if you were willing to make some deals.
“Type coins were for us one of the stronger demand items,” Hauser said.
And they sold a good bit of common collector coins, he said.
“Just great collector stuff was selling best for us,” he said.
As for the market, Hauser was upbeat.
“I think the market is good if you are willing to price things reasonably,” he said. “I think a lot of dealers aren’t yet willing to recognize where the new price levels are. We were aggressive in our pricing because we realize the key dates and semi-keys in the popular series aren’t at the levels they were at four years ago even though the wholesale bid levels aren’t yet reflecting the current market.”
Vince Cavo of two firms, Vinny’s Coins and Paper Money Assure, in Grove City, Ohio, said he had a very good show selling Florida notes and buying coins.
“We did a lot of business down there,” Cavo said. “It was highly populated.”
Cavo said collectors were most interested in quality coins priced between $500 and $2,000.
John Yusak of Florida Calls, Miami, said the show was super.
“I deal in a lot of Florida state notes and obsolete notes and I did very, very well with those,” Yusak said. “The show was excellent; a lot of people went through, especially on Thursday and Friday. I didn’t get around to see all the tables in the show there was so much going on.”
As for the market in general, Yusak sees it improving.
“In 2008, when the economy had a setback, we had a correction in the market. I think the market is improving. It’s certainly a lot better than it was back then,” Yusak said.
Yusak said he sees improvement across the board.
“I’m enthusiastic and positive about it,” he said.
Cindy Wibker, FUN show chairman, said attendance for the four-day show hit 11,000, “which is strong.”
And the dealers seemed happy when they left.
“Paul Battaglia of Rare Coins of New Hampshire told me he sold two-thirds of his stock the first day – Thursday– and he’s never done that at a coin show before.”
The bourse contained a record 620 booths, up from 612 the year before, Wibker said.
“I also had a waiting list with about 20 dealers on it,” she said. “We were limited only by square footage this year. Several of the dealers on the waiting list found a dealer friend who let them share their table so they would have a space at the show.”
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