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Market Report – 08/13/12

The World’s Fair of Money, the largest coin show in the world, just wrapped up its annual convention, this year held at the Pennsylvania Convention Center in the heart of our nation’s former capital, Philadelphia.  It was the first year in which the ANA joined forces with the PNG (The Professional Numismatists Guild) in order to hold both a pre-show as well as the regular show in the same location.  It turned what’s already a long show into a nine day marathon.  Some dealers marched along like the Energizer bunny, never skipping a beat, while you could tell the length of this show did seem to take its toll on the overall “buzz” of the show by the time we got into the seventh and eighth day of the event.  However repeated trips to the Reading Terminal Market, conveniently located adjacent to the convention center served as a terrific pit stop.  That market is one of a kind and truly is a treasure that should be visited the next time you’re in Philadelphia. 

When shows such as these are held in large, east coast cities such as Boston, Baltimore or New York, you can typically count on a crush of public attendance.  Unfortunately for Philly, the crowds never seemed to materialize.  Whether this is due to the location or if this is simply another signal of the changing shape of coin shows is hard to say.  As technology and information improve, allowing the collector to amass and disseminate more information about the types of coins he or she wants to collect or sell, it seems to be negatively affecting the attendance at coin shows. 

While attendance at coin shows in general has been lighter this year, the overall volume of business we’re doing has actually improved.  We came out of Philly with a bevy of new purchases.  Some of the highlights include a 1907 $20 High Relief in PCGS MS65, a PCGS MS62 1892-S Morgan Dollar and the always popular 1916-D 10c in PCGS MS63 Full Bands.  We also sold one of our favorite coins, the excessively rare 1797 50c which is housed in a PCGS XF45 holder.  Other great rarities we sold include the hard to find proof issue of the 1903 Jefferson Gold Dollar.  This coin was graded Proof 65 Cameo by PCGS. 

Overall the trip to Philadelphia was a positive one.  We made it to a Phillies game, ate a cheesesteak at the legendary Tony Luke’s, ate way too much home cooked food at the Reading Terminal Market and handled some truly world class numismatic items.  Check our site soon as we’ll be adding some terrific fresh new coins very soon!