Coin Market Robust While Gold Drifts Lower
Monday, November 19, 2007
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The metals have fallen this past week, but they appear to be solid at these prices. Analysts believed the metals would test the current levels before heading back on a path toward new highs. However, we could see a rocky road the rest of the year depending on outside economic factors such as the Dollar and Oil. If the just completed Baltimore Coin and Currency Convention is a barometer of things to come, then the FUN Show should be very explosive. Baltimore was very active, both wholesale and retail. In addition, recent auctions indicate that competition for true rarities is quite strong with multiple potential buyers for most coins. The fact that there are more than a handful of active buyers for rarities places a premium on these issues. It makes for higher prices and serves to establish new wholesale levels. The amount of activity we are seeing on the teletypes is phenomenal. Wholesale is extremely active with buyers and sellers trading coins in high volume. Even though industry retail sales are immeasurable overall, it is obvious that dealers are buying for collectors (investors). The Wholesale Market Dealer Price Guide reports a massive number of increases for High Denomination issues from Half Dollars through $20 Gold. Nearly every series has increases; dealers are looking for just about anything within these series that is properly graded and has some eye appeal. See this E-News and past issues in E-News Archive: http://www.numismedia.com/market/enews/archive.shtml -What's Hot? Bust Half Dollars All Grades DMPL Morgan Dollars MS63 and Higher $4 Gold Stellas All grades PL Morgan Dollars MS63 and Higher Standing Liberty Quarters MS62 and Higher Seated Dollars All grades Trade Dollars All Grades Seated Half Dollars Most Dates & Grades $10 Gold Indians MS62 and higher BU Rolls Dollars, Walkers, Mercuries Mercury Dimes MS63 and higher Early Gold - $2 ½, $5, & $10 XF & higher Walkers 1916 to 1934 MS63 and higher Indian Cents Red & Red/Brown MS & Proof Early Lincoln Cents Red; MS63 & higher Key Dates in all series Three Cent Nickel & Silver Key Dates -What's Not? State Quarters PR issues under 69 require discounts Low-end quality coins require discounts Modern Issues Grades under 69 require discounts -Other Requests 1883 CC Morgan Dollar MS65 P/L & DMPL NGC, PCGS 1909 S VDB Lincoln Cents VG to MS63 1914 D Lincoln Cent VG and Higher
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