July Feels a Bit Strange Despite Steady Sales

Have you ever had that feeling that something just isn’t right? Perhaps it was in school; you had the answer, and despite checking and double checking the problem, something about it just didn’t look correct. Logic said that everything was in order, but your gut was telling you otherwise. That in a nutshell describes the July coin market. Our sales figures are historically on target for a July with both dealers and collectors. The Annandale Coin Show, which was our only show of the month, was solid if not even robust. Collector demand has been especially good for this time of year. Our price lists, online listings and print ads have also been good. So what then is the problem? Just like school, we are not exactly sure there is one. Just call it a feeling.

Reports and observations from coin dealers indicate two distinct markets. The dealers who exclusively rely on supplying other dealers are complaining about stagnant inventory and cash flow concerns. There is also a noticeable increase in fraudulent activity, another possible sign of underlying market challenges. Precious metals have been in a prolonged bearish cycle, which we contend, has a direct and negative impact on the numismatic sector of the marketplace. Nowhere has this aspect been felt more than at the coin shop level. Shop owners, who play a vital role in the supply chain of coins in the marketplace, have really been crying about the lack of fresh material coming in through their doors. This is something we never heard during the periods when metals rallied. Strong metals prices spur numismatic activity-there is absolutely NO doubt about that symbiotic relationship.

So, we are back to the chicken and egg argument. If retail sales are solid, and the coin shows we have been attending are equally good, is there really a problem? Do we simply turn a blind eye to the aforementioned challenges with the attitude that they don’t really affect us, therefore they are a nonstarter? Irrespective of how we interpret our situation or the coin market as a whole, there is no denying the funny feeling that we just are not firing on all cylinders. We have one more small show in Vienna, VA next week before heading to the all-important American Numismatic Association’s World’s Fair of Money in Philadelphia. Any uncertainties of the true state of the market or where it’s heading into the fall should be resolved there. If nothing else, we should have a solid read on market condition as a whole, and not just in our little bubble.

The Reeded Edge Moves Our Offices & Prepares for Annandale Coin Show

740C3405-5E43-4A71-A66D-D28D84AEC776This has been a busy two weeks for us, as we have moved into a new larger office suite. None of our contact information has changed; we are still at the same physical address, albeit with MUCH more space. The whole staff is excited about our new “digs”. If for any reason you felt our service was compromised over the last 2 weeks, the move was probably a contributing factor. Please accept our apologies, and rest assured a sense of normalcy is just around the corner.

This coming weekend, Rob and Robbie will be heading to Northern Virginia for the always-popular Annandale Coin Show. This is one of our favorite local venues, as we have so many friends and associates in this region. With several major new certified coin deals in tow, we should have something at Annandale for just about every collecting taste and budget. Of course, the guys will be aggressively buying, as well. Just look for their famous BUYING BUYING, BUYING wall sign by the front entrance. If you have one interesting coin or an entire collection for sale, Rob and Robbie would love to be your go-to guys. Hopefully, the D.C. metropolitan area will be in your plans this weekend. If so, please consider stopping by The Northern Virginia Community College and taking in this great regional coin show.

We Need Your Feedback!

In the last week, two different customers contacted us about missing images on item listings. Had they not informed us of the problem, we would probably still be unaware of it. No big deal, right? WRONG! This is a VERY big deal to us, as we take both our webstore and online presence seriously. We strive to be the best coin and collectibles web store on the net, and if we are not, we need to know why. You will never offend us with feedback. Please email our IT Officer, Ray Huntwith your questions or concerns. It is hard  for us to fix something that we don’t know is broken. Thank you, from all of us at The Reeded Edge, Inc.

SUMMER OFFICIALLY IS UPON US, AND THE COIN MARKET IS FIRING ON ALL CYLINDERS

Since we are between coin shows, there is not a lot of road activity to talk about. However, we do get a fairly good read on the market from our home office. We are hearing some of the typical summertime blues from the wholesale traders, but that activity (or lack of) is more seasonal than a market bi-product. Our inventory levels are pretty solid, and we feel at this time of year, this is the norm rather than the exception. Hence, the slowdown on the wholesale side. The retail sector is anything but dormant. Sales to collectors have remained strong since the spring. We are coming off of a very solid June and entering July with near-equal momentum. A positive trend that we are noticing is the resurgence in demand for more expensive coins. Prices in many series have been in a downward trend for the last 2-3 years. We may finally see this trend reversing itself. We like what we see going into this summer, and are cautiously optimistic, that the market should remain solid if not even strengthen. Next week’s summer FUN show, and more importantly The ANA World’s Fair of Money in Philadelphia, will both put this theory to the test.

Baltimore Show a Resounding Success

Even though Baltimore is geographically in our back yard, we still tempered our expectations for the June Whitman Coin and Collectibles Expo. Coming only one week after Long Beach, which essentially is the west coast version of  the Baltimore show, several national coin firms were absent. Despite smaller dealer attendance, Baltimore still proved to be a very successful show for us. We saw a number of our regular local customers and transacted quite a bit of two-way business. The first two days were primarily spent selling down some of our older coins, as we remain committed to cycling our inventory. Larger national venues such as Baltimore serve as a good opportunity for that purpose. Given the hot and cold nature of the recent wholesale coin market, we were surprised at just how aggressively some of our regular trading partners were buying coins. Once the public was admitted to the show mid-day Thursday, they too were eager to acquire coins. More importantly, with the general public, also came fresh coins for us to purchase that simply were not available through our traditional wholesale channels. Although buying is sometimes hard to evaluate at inception, it is the number one reason that we attend major coin shows.  From this standpoint, we think that Baltimore was prosperous. Time will definitely tell!

The Reeded Edge will be home for several weeks, working on overdue office business, online sales, print advertising and our increasingly popular hard-copy mail list. All of these things take some time, a luxury that we didn’t have available during our coin show travel season. Look for many new coins on the web store, Collector’s Corner and eBay over the next several weeks, as well.  Our next Market Report News will have more details of what’s to come.

The Reeded Edge Heads to Baltimore

Baltimore-WaterfrontIt is that time of year again, as The Reeded Edge will be heading east to The Baltimore Convention Center and the Summer Whitman Coin and Collectibles Expo. Wholesale trading commences tomorrow, as Rob and Robbie will be seeing a host of regular trading partners. Our initial impression from scheduling appointments is that many larger scale buyers are anxious to acquire new coins; we had more than a few firms jockeying for first shot at our inventory. This is understandable, as this is our first major national show since The Central States Numismatic Convention in late April. Rob and Robbie will have upwards of a thousand new certified coins with them, so expectations are running high. Conversely, on the buying side, Baltimore historically has afforded quite a bit of opportunity. The guys will have their usual open checkbook policy which in short means, if you have the right fresh coin(s) or collection, The Reeded Edge wants to be your go-to dealer.  The general public will be admitted Thursday at noon, and The Reeded Edge will be actively doing business through Saturday afternoon. Just look for the BUYING-BUYING-BUYING sign hanging prominently over booth #440 (front and center in the bourse hall), and Rob and Robbie should not be far behind. If you need to reach the guys while at the show, please call either Robbie on his cell @ 301-876-1332 or Rob on his cell @ 240-422-0118. Hopefully, Baltimore is in your plans this week as the guys would love to see you at the show!

The Reeded Edge Returns from Raleigh and Prepares for Baltimore

baltimoreAs we have said in previous posts, we are full swing into coin show season. Last week’s Raleigh Coin Club Show kicked off June for us, while Baltimore continues the process next week. Unfortunately, this Raleigh show was nowhere near as good for us as last year’s venue. Perhaps, it was the June date (this show previously was held in July), or just as likely, it could have been the hot and cold coin market. Although we can only judge from visuals, the public through the  front door seemed light. Buyers were noticeably absent, and more importantly, so were sellers. We managed to keep ourselves busy for the weekend canvassing the floor for treasures, and conducting our usual  array of wholesale transactions wherever possible. But at the end of Sunday, we felt like we did only two days worth of business at a four day show. We have done Raleigh enough times in the past to know the potential that this show has. So we will  simply just attribute this anomaly as an off show, and not try to read into it any deeper. Next week, Rob and Robbie will head to Baltimore for The Whitman Coin and Collectibles Exposition. This is in our back yard, so consequently expectations run high. With the acquisition of two major collections, the guys will have no shortage of fresh, new material. Please visit The Reeded Edge at our usual front-and-center table #440 to view all of these new coins. Of course, the guys will be aggressively buying, so please offer them any or all worthwhile numismatic properties. Whether you have a single coin for sale or an entire collection, Rob and Robbie want to earn your business. Just look for the large BUYING BUYING BUYING sign, and chances are, the guys will not be far behind. We will have more particulars about this show, including our pre-show trading schedule on next week’s Market Report, so please stay tuned!

The Reeded Edge Heads to the North Carolina State Fairgrounds for The Raleigh Coin Show

NC expo-center-hotWe don’t like to play favorites, because truth-be-known, we enjoy all coin shows and interacting with our friends, associates and peers on the road. But, The Raleigh Coin Show does hold a special place in our heart.  Raleigh is a really friendly area of the country. There is a lot of truth to the concept of southern hospitality, and the feeling that it evokes.

Raleigh is also rich in collectors and dealers alike, which is at the heart of any great coin show. Rob and Robbie both agree that when The Reeded Edge travels to Raleigh, good things often happen. This has a lot to do with the demographic make-up of the area. Technology and banking have both been at the core of Raleigh’s exponential  population growth. Once thought of as a blue collar working class city, Raleigh has transformed into a professional area with money to spend.

You will find The Reeded Edge at the front of the bourse hall at their prominent L-table. Just look for the giant BUYING, BUYING, BUYING sign and Rob and Robbie should not be close behind. Since it has been almost a month since our last coin show, there are literally hundreds of new certified coins in our inventory, spanning copper through gold. If you have coins to sell, The Reeded Edge wants to be your go-to dealer. Whether it’s one fresh treasure on a large collection, Rob and Robbie will be maintaining their open checkbook policy throughout the closing bell on Sunday afternoon. The guys will be arriving on Thursday for both dealer and by-appointment trading, and will commence general trading on Friday once the show opens to the public. We certainly hope that this beautiful area of the country is in your plans for this upcoming weekend, as we would love to see you at The Raleigh Coin Show.

June Coin Shows Rapidly Approaching

June is traditionally a travel month for us, and this year will be no exception. The Spring coin show schedule will conclude with two of our favorite venues, Raleigh, NC and Baltimore, MD. Rob and Robbie will head to The North Carolina State Fairgrounds next week for the annual Raleigh Coin Show. This  show is truly a collector favorite, always drawing a robust crowd. The mix of over 100 dealers is really diverse, spanning everything from small shop owners to prominent national rare coin firms.  This is one of the components that keeps the Raleigh show interesting. Historically, we have had some great coins show up at Raleigh, so we will see what this year’s venue yields. No sooner do we get home from Raleigh, and then 9 days later, the guys are back on the road to Baltimore, MD. for the Whitman Baltimore Coin and Collectibles Exposition. This is flat-out one of the finest coin shows in the country. Although Whitman’s June venue is the smallest of their 3 annual Baltimore shows, it still ranks very high on our list; after all, even an entry level Mercedes is still a Mercedes! We will have a more detailed preview of the upcoming Raleigh show on next week’s Market Report News, with Baltimore’s preview to follow a week later.

Report from New Orleans: PCGS Trade and Grade Active!

HIGHLIGHTS FROM THE LEGEND REGENCY SALE

1942-S Mercury PCGS MS-68 FB

1942-S Mercury Dime, PCGS MS-68 FB Realized $8812.50

1936-D Rhode Island PCGS MS-68

1936-D Rhode Island Half Dollar, PCGS MS-68 CAC Realized $43475.00

1883 Hawaii 25c PCGS PR-67 CAM

1883 Hawaii Quarter Dollar, PCGS PR-67 CAM CAC Realized $61687.50

 

Although we did not attend last week’s PCGS Trade and Grade in New Orleans, the reviews of the show seem to be mostly favorable. Historically, this show, which is smaller in number of attendees but includes several major rare coin firms, is hit-and-miss. The primary reason for the inception of Trade and Grade was to create a small and exclusive venue for the purpose of submitting coins for on-site grading. Throughout the years, PCGS and Collector’s Universe have developed this show into something much more. Now it resembles a mid-size regional coin show with a corresponding auction, and of course, the option of on-site grading. One of our super-secret, stealth salespeople brought coins to New Orleans on our behalf, and did exceptionally well selling them. His/her comment was, “The show was almost equally as good as Central States. It far exceeded my expectations.” The Legend Regency Auction had some equally impressive results, with most lots sold, and many exceeding their aggressive pre-auction estimates. With good reason, we remain positive about the state of the rare coin market. We stand by our observations that this is a collector-dominated marketplace, largely void of  both investors and speculators. Furthermore, although metals have remained somewhat steady, they have by no means been bullish. So, we are also lacking that element and the potential business that it brings to the table.  Yet, the coin market still chugs along, with solid support in almost all areas. This is an encouraging trend, and we see no reason to believe that it won’t continue into the summer months.