Nice Coins Remain In Short Supply
We’ve just returned from one of the most active June Long Beach conventions in recent memory. This is typically the slowest of the three shows held each year due to ‘summer doldrums’ and dealers / collectors taking vacations. However, a strong gold market contributed to brisk wholesale activity and collector attendance was notably strong.
The bottom line remains unchanged: there is enormous demand for interesting coins. This applies to coins of just about any type which are exceptional in one way or another. I’ve always said that good coins possess rarity or high technical grade – and great coins possess both. Prices for great coins are reminiscent of the 2006 market or stronger in some cases, but there is simply not enough supply to fill demand. Not as many coins are trading. This is frustrating for collectors looking to add to their collections right now. But, it’s good news in terms of demand outweighing supply; and I wouldn’t be surprised to see prices continue to climb in certain areas. I also like the fact that more collectors seems to have a greater interest in their coins than cash right now. Considering the overall economic state of affairs, it is no surprise that hard assets are in favor.
We’re now about to head off to the summer Balitmore show and the heavy collector attendance that is associated with what has become the strongest tri-annual coin show in the country. Gold seems to be developing a base above $1,200, collectors remain quite active on the floor and at auction at shows. We could be on our way to a very nice summer for the industry.
