Archive for category: Market Reports News

The Whitman Baltimore Coin Show certainly didn’t start out well. Our trip out of Cumberland last Tuesday almost didn’t get past the first mountain. Two jack-knifed tractor trailers had the snowy I-68 east bound lanes closed, forcing us to use an emergency pass-through on the interstate to reverse direction, exit the interstate and try our luck on a snow covered access road paralleling I-68. As fortune had it, we got by the impasse, but only to experience similar travel challenges posed by the inclement weather for the next four hours; our ordinary 2 hour trip to Baltimore ended up taking 5 1/2 hours. Unfortunately many other people trying to commute into and around the snowy mid-Atlantic region experienced the same thing. All of this initially took it’s tole on the Baltimore Coin Show. Appointments cancelled, dealer attendance dwindled, and set-up on Thursday morning at the show was relegated to a virtual ghost-town status. It didn’t bode well for the next three days…Mary Counts, the always-positive force for the Whitman staff was quick to remind us, that one of the best Baltimore Shows ever occurred approximately 30 years earlier during a snow storm that piled feet of snow in and around Baltimore, and limited all but the most die-hard dealers from attending. Apparently gold rallied during the duration of the show, and everybody there made unbelievable money. Although we had no specific recollection of these events, her point was well taken. A good show can be had under even the most adverse of  circumstances. Once the public entered at noon on Thursday, that is precisely what happened. The activity at The Reeded Edge’s table was intense and non-stop. Buying and selling took place until late Saturday afternoon. Yes, this show really did stay active and profitable throughout Saturday (which any more, is VERY unusual). At the show’s end, The Reeded Edge had done over $300,000 worth of business, submitted quite a few coins to PCGS for grading, and met more than a few new customers who expressed interest in building business relationships. In short, the show ended up firing on all cylinders, and was successful at all levels. We have to credit Whitman for overcoming adversity beyond their control, and making this show a resounding success. In retrospect, it is no mystery to why The Whitman Baltimore Coin and Collectibles Expo has evolved into one of the nation’s premier coin shows.

We were pleased with the turn-out at last week’s Annandale Coin Show. Despite this being the first time this venue was held in March, compounded by a severe wind storm that passed through the area Friday night, promoter Wayne Herndon still managed to have the show ready for business on Saturday. Although our sales figures were slightly off from December’s Annandale venue, this still felt like a busy show. In retrospect, the weekend went very quickly, which is usually a good indicator of the activity level. There were numerous invoices written and a good bit more purchased, so we were relatively happy from both perspectives.

This week, our attention turns to Texas and The ANA’s National Money Show. Although we will not be attending, this show still serves as a barometer for the state of the coin market. We are hoping to hear positive reports. With both Baltimore and Central States on the horizon, stability and momentum are two essential market components.

The last week has been a busy buying period for us, and we urge you to peruse all of our new numismatic purchases. There is a good variety of material spanning all series and price points. We will be in the home office for another two weeks before heading out to Baltimore for The Whitman Coin and Collectibles Expo. Expect to see many more new purchases processed during this period, a bi-product of both fresh numismatic arrivals, as well as PCGS grading submission returns. We sense as Spring approaches, that the coin market will experience a cyclical spike in activity levels. Stay tuned for our follow-up market reports to see if our prognostications are accurate.

Although we are not attending this week’s Long Beach Coin and Collectible Expo, the reports that we are getting from our agents are favorable. Activity seems to be brisk and coins are selling, which are both positive signs. Here on the home front, we are seeing much of the same. Orders in the office have picked up, especially in the last week. Collector coins continue to be the strength of the market place. Conversely, generic coins, in virtually every series, are still languishing. Although generics never really excited us, we feel they present opportunity at the present lower levels.

Another emerging trend is the distinction between high-end and low-end coins. A perfect example of this, is from this week’s Heritage auction in Long Beach. Yesterday, we observed two 1840 $10.00 Liberty gold pieces, both graded AU-55 by PCGS in the auction. The first coin had some severe scratches on the obverse, and was only marginally acceptable for the grade. When we checked last, it was at $750 with no bids. The second example was housed in an older PCGS holder, had a CAC sticker and was exceptional in all respects. It was at $28,000 with numerous bids! No, that wasn’t a typo; the same date of coin, housed in the same company’s holder, with the same technical grade assigned to each, and the 2nd coin was literally 37 times as expensive as the first! It will be interesting to see what both coins finally hammer for at the conclusion of the auction, but the distinction in quality  is well illustrated by this example, if not even grossly exaggerated. For the savvy buyer who uses the market’s lower baseline valuations to buy nicer coins at a premium, opportunity abounds. The bottom line is that the coin market has become a two tier market where a high-quality sight-seen coin is worth considerably more than its just made it, sight-unseen counterpart.

Next week, The Reeded Edge will be traveling to Northern Virginia to set up at The Annandale Coin Show. Always one of our favorite local venues, this is now a three-times-a-year affair. Conveniently located at The Ernst Community Cultural Center (pictured above) on the campus of Northern Virgina Community College, it is just a mile outside of the D.C. Beltway, I-495. We will have more details next week, so stay tuned.

It’s that time of year again where we brave the unpredictable elements, and travel to an area where weather can always be a challenge in February, but the show always seems to pay dividends. We are referring to the active Greater American Coin Fair located at the Airport Hilton, literally across Highway I-70 from the St. Louis Airport. Convenience is the key to this coin show. The proximity to the airport makes it a no-brainer for dealers out of the area. The middle America location is alluring to dealers from all areas of the country. The small show feel creates intimacy. The large adjacent parking lot at The Hilton makes parking convenient and safe for the locals. Quite often, not all of these variables are considered when choosing a site for a coin show. Kudos to Mike Orlando for not only considering each of these important aspects, but packaging it all to create one of the most consistently viable shows on the circuit. Ordinarily, a show of this size would hardly be considered a national show. However, due largely to the make-up of the dealer roster, The Greater American Coin Fair is just that-perhaps the best little national show in the country. We should also mention that this show has been sold out for decades, which is why we always attend and never let our table lapse. Our understanding is that the wait list to get a table could be a decade or more. As usual, The Reeded Edge will be located in the center aisle of the main room on the left side. Both Rob and Robbie will be on-hand, although display area and mobility in the room are limited. That will not deter the guys from bringing an extensive certified inventory of U.S. coins, spanning copper to gold. Retail is just to strong to ignore at this venue, despite the logistical challenges. Please note: Our table is listed under Oklahoma Coin Exchange in the show guide, although we will have our Reeded Edge logo table cloth which should be plainly visible once you approach our location. Also, we will be not be set up on Sunday. As usual, buying will be a priority, and The Reeded Edge’s open checkbook policy will be in full effect. Please offer the guys any worthwhile United States material that you have for sale. We are really looking forward to this show, and hope that St. Louis may be in your plans for the upcoming weekend. If so, stop by The Airport Hilton, and say hello.

We have been patiently waiting for this day, and this weekend, it is upon us. The Vienna, VA Community Center has completed its multi-year renovation, and the longstanding Vienna Quarterly Coin and Stamp Show is ready to resume its regular schedule. As many of you are aware, this was for many years one of the premier boutique coin shows in the country, capitalizing on a 50 year tradition in conjunction with one of the demographically best locations possible. Vienna, VA is right in the heart of affluent Fairfax County, and an area with plenty of money, and more importantly, plenty of collectors. Much of the success of the quintessential Baltimore Coin Show is based upon the multitudes of collectors and dealers emanating from in and around this area. The Reeded Edge has secured one of the premier tables at this all important show, located along the right wall at the front entrance. Our famous BUYING, BUYING, BUYING sign will be prominently displayed behind our three table booth. In other words, we will be hard to miss! Both Rob and Robbie will be manning the tables. They will have their usual extensive inventory of certified U.S. coins with new office purchases and PCGS grading returns included. The Reeded Edge remains committed to buying fresh coins, and few dealers are more aggressive in this area than the guys. Rob and Robbie’s open checkbook policy will be in full force, so please stop by and offer them anything worthwhile that you are considering selling. Their on-hand inventory is both diverse and addresses all price points, so please give them an opportunity to service your collector want list, as well. With a beautiful weather forecast for the upcoming weekend, we can think of no better place to spend it than the D.C. metropolitan area. Hopefully, that will be in your plans, as we would love you to join us at this active coin show.