It is easy to miss a week (or two) when you’re busy. Our customers serve as our best reminder that we haven’t been keeping them up to date on numismatic happenings. It actually has been over two weeks since we last posted a market update; we apologize.
The coin market remains healthy bolstered by an unusually strong economy, especially considering the 5+ month COVID lockdown. It appears that we have now turned a corner with the virus, and the worst is seemingly behind us. We have noticed a renewed sense of optimism amongst our customers. The net result is more time spent on their collections, along with more resources dedicated to their growth. Shops are starting to feel this resurgence as well, with numismatic material now joining precious metals in the trading spectrum. TV marketers, who account for a large number of coins sold in the numismatic marketplace, also are reporting increased sales. Perhaps most importantly, we are seeing the return of coin shows across the country. Although a new COVID protocol is dictating the layout and capacity of shows, they are moving forward with a full head of steam. Absent still are the large national shows that face additional challenges because of the size of their venues. Hopefully, FUN 2021 will break this drought, which would be PERFECT in so many ways.
The North Carolina Numismatic Association held their annual convention in Concord, North Carolina ten days ago, and the guys deemed it a resounding success. The show lured hundreds of enthusiastic dealers and attendees. It was obvious that this region of the country was itching for a coin show, as those in attendance were serious about conducting two way business. Barring the required masks and morning temperature checks, this show felt much like years past, with an even more enthusiastic crowd than usual. Rob and Robbie were busy for the duration buying and selling both numismatic coins and bullion. Activity is always the barometer of a successful show, and from this standpoint NCNA scored a 10. Congratulations to Greg Cheek, Perry Siegel and the entire NCNA staff for a job well done!
The office has remained equally busy with several significant deals coming in over the counter. We have literally gone from famine to feast in matter of just a couple of months. Maintaining adequate inventory levels was a real problem during the months of lockdown, so this newfound wealth of coins is a welcomed change. With our customers more eager than ever to acquire pieces for their collections, these new coins get absorbed as fast as they come in. To all the would-be sellers reading this, please keep the coins coming!
Up next for The Reeded Edge will be the PAN Coin Show in Monoreville, PA. Similar in size to the NCNA convention, Rob and Robbie are anticipating a really good show. The guys have quite a few customers in this region of the country, as Pittsburgh is a mere 2 hour drive from their home office. More about this venue next week, so please stay tuned.