Archive for category: Market Reports News

It really is hard to believe that the holidays are upon us again. 2018 has been a challenging year for the coin market in many ways, but thanks largely to you, our customers, we have persevered. Throughout the year, this market has become much more selective. This selectivity goes in tandem with the full throttle return of the collector, which has been the driving force for the renewed demand on collector coins, and correspondingly, the weakness in generic coins. We have witnessed series such as classic U.S. Commemoratives, Standing Liberty Quarters and early-date Walkers all experience a renaissance. Conversely, generic common date material has languished with many of these coins trading at all-time low premiums. A good case in point are common-date $20 gold coins which exist in abundant quantities, and are priced closer to their intrinsic value than ever before. (We actually think that this area presents a buying opportunity, but that is a conversation for another day).

But, we digress….This is a time of year to give thanks for all that is right, and that starts with you. Without your support and loyalty, we wouldn’t be here. Yes, we love this hobby and being able to service it. We share in your passion for numismatics, and take pride and satisfaction in knowing that we are helping you, even if just some small way, to advance your collection. Here at The Reeded Edge we are all collectors, both in heart and in practice. This is such a great hobby, and it starts with the people. Cherish your coins (as you should), but most importantly, give thanks for those around you that provide love and comfort. Coins aside, that is the real importance of Thanksgiving and the upcoming holiday season.

We would be remiss if we didn’t at least mention our upcoming Black Friday Sale. We have tried many different approaches to this popular shopping weekend, with some campaigns more successful than others. We really believe that this year’s sale will be one for the ages, with no item excluded, including our listings on eBay. Stay tuned for more details.

From all of us to all of you, Happy Thanksgiving!

There were several takeaways from last week’s Whitman Baltimore Coin and Collectibles Exposition. First and foremost, the wholesale market challenges are very real. In a nutshell, there simply aren’t enough fresh coins to supply this sector. Consequently, stagnant inventories cause prices to depress. Depressing prices result in dealers holding coins longer than they should. By doing so, their cash flow is affected; instead of having money to reinvest in the market, they find themselves with depreciating coins. This market scenario has been manifesting for some time. Holding inventory right now is like playing Hot Potato. With the current market conditions, it is essential to tier inventory and keep the oldest coins moving. Those dealers that follow this business model are surviving, and some are even thriving. But the others who just keep holding onto their coins for dear life, hoping and preying that the market will recover and allow them to realize a profit, are dropping like flies. In Darwinian terms, this is called a thinning of the herd, and necessary for the recovery of the wholesale sector. Too few fresh coins in the marketplace equates to less dealers to sell them. As the pie shrinks, so do the mouths that feed on it.

In all, Whitman did their usual great job in filling the room with quality dealers from around the country as well as thousands of collectors eager to do business. The irony is that collectors had no sense of the wholesale challenges and conducted their business without missing a beat. Perhaps, there was a slight pause in business created by the correcting financial markets, but it truly was only slight. This was probably most felt on Thursday, the first day of the show where smaller-than-normal crowds were evident. But that aside, Baltimore performed in the usual strong way that we have become accustomed to. Rob and Robbie were doing business pretty much non-stop for the entire duration of their stay. At the end of the day, buying, selling and show grading all received B/B+ marks, not too shabby given underlying circumstances.

This week, the guys will be finishing out their show marathon in Vienna, VA for The Vienna Quarterly Coin and Stamp Show. Although this shows falls just one week after Baltimore, Rob and Robbie are not too concerned with market saturation. Curiously, Vienna has its own loyal contingent, some of whom also attend Baltimore, but many who do not. With quite a bit of brand new inventory in tow, The Reeded Edge will be primed for doing business. The guys will be set up at their usual spot by the show entrance. Just look for the giant BUYING, BUYING, BUYING sign, plainly visible throughout the hall. Not to belabor the point, but The Reeded Edge’s open checkbook policy will be in full effect. Plainly stated, if you have any fresh coins for sale, be it a single prized possession or an entire collection, The Reeded Edge want to be your go-to dealer and is prepared to earn your business. If Northern Virginia or the D.C. area are in your plans for this weekend, please consider stopping by The Vienna Community Center for this great little show.

Coin shows anymore are like walking up to the craps table; one never knows how the dice will fall. There are however some shows that have enough history and tradition that a certain expectation follows. The NCNA, unfortunately, is not such a show. The show has struggled for identity and stability as it has moved across the North Carolina state map. The one thing we will say for the sponsoring North Carolina Numismatic Association is that their effort has consistently been there. This year was the second consecutive time that this event was held at The Cabarras Convention Center in Concord, NC. Hopefully, this marks the beginning of the stability that this coin show so desperately needs. Although we heard numerous complaints about the overall quality of the public crowd, we prospered from networking with our southern friends and encouraging them into the show. To those of you that did show up on our behalf, thank you! Overall, we thought this year’s NCNA event was solid and marked a stark improvement from years past. We bought and sold almost equally throughout the show, which is the balance that we always strive for. Although the convention center’s location is admittedly remote, it is still within 10 miles of Concord’s population center. Hopefully, with ample marketing, and by continually building on their dealer base, this show will be able to prosper and succeed. As we have stated in previous commentaries, coin shows are faced with growing challenges every year. Overcoming them requires work, diligence and commitment, three things we believe are core values of The NCNA. Our best wishes and continued support go out to them moving forward.

Coming off of a week with 2 sub-par coins shows, we were really hoping to breath some new life into our month. Happily, VNA did just that, and then some. From the show’s outset, you could feel a buzz absent from both Gettysburg and PAN the previous week. Dealer activity was both fast and furious, and our purchases Thursday on dealer trading day more than justified our presence. But Friday through Sunday offered an equally vibrant level of activity with two way business transacted throughout. It’s always encouraging to see the efforts of a successful coin club translate to a great convention, and the Virgina Numismatic Association in that regard, is always one of the best. Our hat goes off to Richard Shornak, the new VNA bourse chairman, for a job well done. We only wish each and every coin show were run with this level of success and dedication. Kudos to the whole VNA organization!

We hate to close on a somber note, but our friend and long-time colleague Barry Ciaciaola is very ill. The CDHCD Facebook group has taken up a collection to assist with his finances. If any of you that know Barry would like to help, please click HERE. As holds true for our many other dealer friends, we consider him an important member of our extended numismatic family. Barry, you are in our thoughts and prayers.

This is a strong statement, and it’s not to be taken lightly. The Ohio State Coin Show on Labor Day Weekend in Dublin, Ohio proved once again why it is the single best run coin show in the country! How many show promoters would try to hold their venue on one of the most traveled weekends of the year? Furthermore, who would even fathom holding a show in Columbus during Ohio State football’s (probably the most popular college football program in the country) season opener? The combination seems like a sure recipe for disaster. Suffice to say, only a really fine-tuned coin show run by an equally committed organization could pull this off. We are pleased to say, that once again, The Central Ohio Numismatic Association with their host of green hat support staff put on a first class venue, defying the odds and making firm believers out of us. When we hear that coin shows are a dying breed, we always allude back to this venue. They advertise and market, they prove year-in and year-out that they have a contingent of collectors and members that remain loyal to the show, and perhaps most importantly, they make their dealers feel welcome. Rob and Robbie reported a stellar day of trading on Friday, followed by a solid day of selling on football Saturday. Only three days back from this year’s show, and their attention has already turned to next year’s anniversary show-which they have been told, is really going to be something special! Hats off to Patty Cass and her wonderful staff for a job well done. If only every coin show were run like this…..well, we can dream, can’t we??