Does anybody notice that none of the news lately seems good? COVID19 is allegedly going through a resurgence, racism and ensuing rioting is leading to widespread social discourse, and an unstable economy is being exasperated by record unemployment. Throughout all of this doom and gloom, we have been selling coins, and a LOT of them. This last week was one of our busiest first weeks of the summer in company history. This leads us to ask the question, are things really as bad as we are being told? Just yesterday, unemployment numbers for June came in at 11%, or about half of what had been forecasted. Outside of a few urban hotbeds across the country, social unrest seems to have subsided, and COVID deaths have thankfully shrunk to about half of their peaks back in April. The financial markets have responded to all of this latest news very well, offering further evidence that things are not always exactly what they seem to be. We are in an election year, so expect both sides to stay energized right up to the finish line. At this point, we are just hoping to see sustained strength for the rare coin market. It certainly has given us no signs to think anything otherwise. Gold and silver have both found comfortable homes at their present levels, and last week’s market on both, remains unchanged. Where will the next high watermark be for metals? That is the ten thousand dollar question, and time should provide the answer. Our observations are that the numismatic sector is experiencing a renaissance, which is even holding true for some of the historically slower areas in the market. We still see enormous opportunities in obsolete type coins such as half cents, two cents and three cents, classic commemoratives and dated small gold. All of these areas are moving in the right direction, if not yet in price, definitely in interest level. At current prices, upside for all of these series is very much still part of the equation. We would love to see a return of coin shows, and we are hoping that this happens sooner rather than later. Most in the dealer community are adept with the current COVID protocol and could function in a show scenario accordingly. The few smaller venues that took place in the last month went off without a hitch. Although their attendances were expectedly smaller, they were viable and active shows nonetheless. Perhaps, we are the eternal optimists, but we do believe things are on the mend. The next couple weeks will either substantiate or dispel that notion, so we shall see. Finally, we would like to give a shout-out to our entire customer base. Without your support, we would not be in our present good place. Thank you for seeing us through this national emergency. Thank you for your continued patronage, and perhaps most of all, thank you for believing in us. The feeling, we assure you, is 100% mutual!
https://www.reedededge.com/wp-content/uploads/2017/09/banner.png 0 0 Rob Lehmann https://www.reedededge.com/wp-content/uploads/2017/09/banner.png Rob Lehmann2020-07-02 15:21:042020-07-02 15:39:11Throughout the Negativity in the Press, The Coin Market Continues to Prosper