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Market Report – 02/14/13

Mark Twain famously said, “the report of my death, was an exaggeration”.  It appears the same can be said for the Long Beach Coin Expo.  Only a few years ago the show was clearly struggling.  The promoters were having a difficult time selling out the show, leaving countless booths unsold and empty.  The public attendance also declined and what was once an active, energetic bourse floor turned into a slow, plodding show from which dealers couldn’t wait to escape.  Thanks to the diligent efforts of the show promoters, the Long Beach Coin Expo has shaken off a bit of the cobwebs that had descended over it and reasserted itself as the west coast’s premier numismatic convention.  The tables were all rented, the public attendance was up and the mood on the floor was positive.

A near constant theme that is on the verge of becoming a truism at the major coin shows we attend is just how difficult it is to find fresh coins and conversely how easy it is to sell fresh material.  We had one of our strongest selling shows in recent memory and everything was moving.  From high-end rarities like a 1907 High Relief in PCGS MS66 and an 1855 Arrows 50c in PCGS 65+ to key date pieces like a 1916 Standing Liberty Quarter in VF and a 1796 25c in Fine, nearly every segment of the market seems to be heating up.  And while it’s true that buying fresh coins on the bourse floor can be difficult we did manage to buy a set of proof Liberty Nickels that hadn’t seen the light of day in decades along with some high-end rarities that will be making their way to our website soon.

A renewed optimism seems to be invading the minds of both dealers and collectors alike.  As we all come to terms with the fact that the generic gold market has followed the spot price of gold and become stagnant, we can now focus on rarities and collector coins.  Already in 2013 the rare coin market has its first ten million dollar coin sold, the bourse floors of the first two major coin shows (Orlando and Long Beach) have been filled with excited collectors and we haven’t even made it to the first Baltimore show of the year, which has been the strongest venue by far over the past five years.