Happy New Year from The Reeded Edge

We struggled with the title of this week’s Market Report. After all, is there really much to be Happy about? There is an old saying that when you’re given a bowl of lemons, make lemonade. We would like to think that’s precisely what happened this year. We know about all of the negatives, as we hear and read about them on a daily basis. So, let’s focus on the some of the positives. Many of us tackled projects, that for one reason or another, had been delayed or forgotten. Life’s priorities were reevaluated. Things that had been important to us now seemed less so, and perhaps, vice-versa. The passions in life that had been relegated to the backburner were now in our very laps. Enter numismatics. We talk to customers daily, and the one comment that really started to resonate with us was, “I have got so much more time now to spend on my collection”. In this regard, current circumstances were a bit of a perfect storm. While other businesses were shutting down, those of us in the coin business remained busy. In tandem, precious metals experienced a run-up, and for the most part, have maintained their strength. The one frustration, during this otherwise blessed period, was the cessation of coin shows. The late summer and early fall gave us a taste of what it felt like to attend coin shows again, but then everything went to hell in a handbasket as the second wave of the pandemic took hold. It was back to the lemonade stand. We all became more resourceful in how we acquired coins, relying on our customers, personal contacts and established business relationships. We used the internet, phone and mail in lieu of shows. Most importantly, we didn’t cease doing business, but simply reinvented our business models. We have always professed that coin dealers are a pretty smart bunch; so are collectors. As a group, they are more resourceful than most. The parallel to the chameleon, which changes colors to suit its environment, comes to mind. In retrospect, given how quickly all of our lives were turned upside down, it is truly amazing how numismatics persevered. So at the end of the day, YES, there really is much to be happy about. As we exit this crazy year, forever etched into our memory, we wish you and yours a happy, healthy, safe and prosperous new year. May 2021 be the proverbial turning point for all of us!