Generics Take Back-Seat in Denver Monday, August 21, 2006 | Printer Friendly Rarities sell, expensive coins are strong and coins with a story are sought by collectors and investors. However, generic coins appear to be just a little soft as we found out in Denver at the just concluded ANA. There were plenty of dealers and collectors to view the hoard of 1933 $20 Gold pieces that were on display. There was a lot of business among the dealers but the retail customer seemed more interested in visiting, viewing, and possibly comparing prices to their local dealers. We found a very mixed review among dealers as to how successful the show was overall.   Part of the problem seems to be that the U.S. Mint undermined the coin industry with the release of the $50 Gold Buffalo coins as sales surpassed the $200 million mark; this took a lot of retail money directly from the coin business and created considerable weakness in generic U.S. Gold. For those looking for a silver lining, it also creates a tremendous opportunity for buying U.S. Gold at the lowest premiums seen in years. If you are a true believer in bullion, then this may be a good time to start buying generic U.S. Gold coins.   The ANA also exposed weakness in other areas for generic coins, especially in Morgan Dollars. There seems to be a lot of inventory available and wholesale prices fell for MS64 and 65 Morgans. The overall picture does not look as bleak as it may seem. Areas where there is excess material in inventory is being discounted and selling at the new lower levels. Coins you don’t see everyday are in strong demand; pedigreed coins are very active because collectors want some sense of history to go with their collections.      With the metals moving in a positive manner this morning it could create an increase in bullion related areas; when demand increases it has a tendency to change the whole mood of the market. Gold is currently at $623.90 and Silver is $12.27; Platinum is $1225.   -What's Hot? BU Rolls – Dollars, Walkers, Franklins Gold Commems – MS64 and Higher Silver Commems – MS64 and Higher Early Gold -- $2 ½, $5, & $10 XF & higher Battle Creek Dollars – Lovely Toned Morgan’s Carson City Dollars – NGC Certified Walkers – 1916 to 1934 MS63 and higher Indian Cents – Red & Red/Brown MS & Proof Early Lincoln Cents – Red; MS64 & higher Key Dates in all series Dollars – Morgan & Peace in MS66 and Higher   -What's Not? State Quarters – PR issues under 69 require discounts Low-end quality coins require discounts   -Other Requests 1911 D $10 Indian – MS64 PCGS 1876 $1 Gold – VF or XF Buffalo Gold $50 – Buy/Sell Carson City Dollars – Gov’t Holders http://www.numismedia.com <<New Year Begins with a Bang COIN MARKET REPORT ARCHIVE >>Demand is High for Coins with Potential