Archive for category: Market Reports News

One thing is for sure and that is this pandemic has created a lot of uncertainty. Fortunately, new models seem to indicate that although COVID19 is an extremely serious disease, the mortality rate is not nearly as high as originally thought. Although there will always be second guessing, it appears that measures taken out of the gate (such as the China travel ban) saved numerous lives and limited the spread. Combine this with a rigorous and widespread acceptance of self-isolation and social distancing, and we further limited the collateral damage while flattening the curve. The net result is that we will finally be able to re-open the country and put people back to work. This certainly is great news, something we all could use a little of lately.

The coin market seems to have weathered the storm well. Perhaps this is a result of collectors staying at home and working on their collections. In addition, metals markets have remained strong with the demand for physical gold and silver as high as any in recent memory. We have also noticed a consorted effort on the part of the dealer community to support one and other through these uncertain times. Admittedly, we are are a resilient bunch, but none of us have ever been tested like this before. Hopefully, at the end of the day, the numismatic hobby will emerge, bigger, stronger and on more solid footing than ever before. As we have said often during this crisis, we remain cautiously optimistic for all of the above!

Of all things, who would have guessed that numismatics would be seeing a spike in activity during a global health crisis? While hand sanitizer and isopropyl alcohol are still unavailable, coins thankfully are not. The last that we checked, they were not exactly an essential item either. We are blessed by this developing trend, but admittedly, are a little taken back. When everything turned south, we were really expecting the worst. Thankfully, that wasn’t the case.  We have been able to retain all of our employees and continue to operate on a somewhat normal level. So, what do we attribute this numismatic resilience to? The most obvious answer lies in the stay at home orders instituted throughout the country. Observations made through various social networking channels all lead to one answer: boredom. Collectors have the precious commodity of time on their hands, with minimal outside distractions. What better in-door activity is at their disposal then to focus on their collections? This theory mirrors their new purchasing patterns. We have noted a strong boost in sales for the under-$500 numismatic material. A high percentage of these transactions are taking place online. Venues like eBay and Amazon are seeing increased activity also, a trend consistent with our observations. We should add, that this whole situation still remains very fluid. News today could be history tomorrow. We will continue to keep you updated with emerging trends, and how they are impacting the numismatic sector. For the time being, we implore everybody to continue to practice social distancing, and most importantly, stay safe.

Even in the worst of circumstances, there are always things to be thankful for. Fortunately, we are in the rare coin business. Alternatively, we could be in the bar/restaurant or travel industry, and faced with an uncertain future. But, we are not; we are in a business that has remained viable, and we believe, will continue to do so into the foreseeable future. Coin Collectors are a loyal group and even with the present challenges, most have remained committed to their hobby. Factor in the newfound demand for precious metals and the physical shortage of supply in the marketplace, and we now have an investor demand, as well. Ironically Monday was our busiest shipping day of the year. This is the same day that Wall Street had a 2000 point swing, and the news centered around uncertainty. We believe that as the current public health challenges get more predictable in tandem with moving towards a treatment and cure, economic circumstances will also stabilize. The last two days has seen a shift in that direction. The real news is, throughout it all, coins have been selling. Since collectors have demonstrated a willingness to continue buying coins, and precious metals investors have upped the ante with their ravenous appetite to procure physical gold and silver, we don’t see any recession on the numismatic horizon. Contributing to this is the Cabin Fever created by social distancing, leading many collectors to refocus on their collections.

Those of us that call ourselves professional numismatists are a blessed group. We have been afforded the opportunity to turn our passion into a profession. In addition, we deal with a like-minded contingent that is equally as passionate as us. Thank you to all of our customers that have continued to stick by us through this difficult period. You have been there for us, and rest assured, we will continue to be there for you.

This week, there are a myriad of new coins scattered throughout the store. This has not been an easy task for us, especially with the absence of coin shows and the closure of many coin shops. Irrespective of these two challenges, we stay committed to providing you with our usual influx of fresh coins. This has required us to have coins shipped from private sources, folks just like yourselves. With that in mind, we want to stress that OUR NEED FOR FRESH, NON-AUCTION, CERTIFIED U.S. COINS, ESPECIALLY THOSE VALUED IN THE $500-$5000 RANGE CONTINUES. PLEASE CALL/EMAIL WITH ANYTHING YOU CAN OFFER!

These are unprecedented times for all of us. The coin business and those that feed into it have demonstrated an unbelievable sense of resilience and normalcy throughout. We are betting that this trend continues, and with time, even improves. As our political leaders are constantly reminding us, we will emerge from this crisis even stronger than we were. Based upon what the numismatic sector has evidenced, we would have to agree.

We are living through some unprecedented, and very uncertain, times. Although the root cause of this is new to us all (COVID-19), the volatility resulting from it, is not. People and markets have a symbiotic relationship which makes perfect sense, since one comprises the other. When people hit the panic switch, markets react. It is people that drive markets, which is a concept that’s easy to forget. This holds especially true when the markets head south. For that fleeting moment in history, the markets seem like some entity that’s bigger than us all. They are not. In fact, they are us all; the markets are merely an assemblage of individuals deciding where the appropriate level is to buy and sell products, services, financial instruments and commodities. But, I digress. The over-correction that we are experiencing is probably a bi-product of fully valued markets that were ripe for a correction, combined with a damn good catalyst to trigger it. The last time we saw this happen, AIG and the collapse of the housing markets were the root cause. Before that, it was inflationary interest rates and the Iranian oil embargo. The Reeded Edge was here for them both (although The Reeded Edge was not yet our namesake in 1979). Ironically, these events all occurred at approximately 20 year intervals. So were we due? From a timeline perspective, the answer is “probably yes”. History aside, we are dealing with what could be the third major economic downturn during my life in the coin business. The cause is definitely different, but the collateral damage is only too familiar. Obviously any future impact of COVID-19 will be directly correlated to its infection rate, response efforts, and ultimately, its cure. Presently, these are all unknowns, as is the long term prognosis for the effects to the markets. Alluding back to my previous statement, markets are assemblages of people driving buy and sell prices. Without people, we have no markets. It’s a pretty simple concept. Protecting people, despite the temporary inconveniences and discomfort to do so, needs to remain our government’s priority. Throughout this adversity, calmness and normalcy must prevail. Although all of our lives at some level, have been disrupted, I will not allow circumstances to derail our routine at The Reeded Edge. I may have to modify certain aspects, especially with the cancellation of many of our upcoming coin shows. The basic premise of what we do is to buy and sell rare coins and collectibles. I assure you, that won’t change! In the immediate future, we will transact our business over the internet, phone, through the mail, and office appointments. Travel will obviously play a lesser role. Fortunately, I have been through this before, and we will weather the storm. My suggestion for our customers is to spend more time at home, and perhaps, focus on your collection until the air clears (both figuratively and literally). If you’re anything like me, your hobby is personal therapy. I can assure you, through firsthand experience, a hobby can provide a needed distraction to get you through some very difficult times. As the old saying goes, the beat will go on. If there is anything that I or any of us here at The Reeded Edge can do to make your current situation a little more comfortable, please let me know. You are our Job One, and we remain here to serve you. Most importantly, stay healthy and safe.  -Rob Lehmann, The Reeded Edge, Inc

To say that the last month has been an interesting time, would be a gross understatement. The hysteria caused by the coronavirus has impacted everyone’s daily life in one way or another. Concerns have triggered sell-offs in the financial markets, depletions of grocery store shelves and interruptions in travel. To ignore the potential impact on upcoming coin shows would be naive. There is already some scuttlebutt that some regular dealers may not be represented at next week’s Whitman Baltimore Coin Expo. As the old saying goes, it is what it is. We at The Reeded Edge want to reassure all of our customers that our schedule for any and all upcoming shows will be unaffected.  We don’t for a second undermine the seriousness of coronavirus, but we also believe that we are presently seeing the worst of its collateral damage. With time, this situation will only get better. Just as with time, a vaccine and cure will be found for this menacing disease. From talking with many of our local customers, we believe that next week’s show will be as robust and well attended as ever. Many of the downtown hotels are sold out, which is not exactly a bad sign. The Reeded Edge will be at our usual front and center booth #440. Of course, both Rob and Robbie will be on hand to meet and greet folks throughout this venue. We will have a myriad of new certified coins on hand, so we urge everybody to stop by to peruse our ever-changing inventory. The Reeded Edge will also be aggressively buying, as our needs are as extensive and diverse as ever. The BUYING BUYING BUYING sign hanging prominently behind our booth should say it all. Accordingly, our open checkbook policy will be in effect throughout the show. Whether you have single rare coin or a fresh deal that you’re contemplating selling, we would love to be your go-to guys. Despite the coronavirus distraction, we are really encouraged by the current coin market. Collectors seem as enthusiastic as ever, and our phones keep ringing daily. We anticipate a really good show next week, and hope that Baltimore will also be in your plans.