Before the Baltimore Show starts there are dealer to dealer rooms for trading prior to the show. Pretty much everyone shows up early to trade. For whatever reason, this time we looked across the room and realized we did not know HALF of the dealers in the room. The majority of them are UNDER 25 years old. They are the equivalent of what the class of 1959 was, a large group of dealers born in 1959, that were dealing back around 1978-1980.
These Young Numismatists know how to grade too. They all have a lot of great attributes. Unlike many of the former whiz kids of the past, they are not a wild bunch. They are very seriously dedicated to their craft, are very polite, and are welcoming to business. Our only hope is they are more pure dealers rather than dealers trying to only play the crack out game for quick action. However, the good thing is, they exist and they will create a bright future for the hobby.
THE MARKET
We were VERY impressed with the small amount of CACG coins we saw on the floor. The coins were really good looking. There was only one problem with the coins, the dealer had them priced at premium levels(we can’t risk stocking coins at levels we perceive to be above the market). One dealer had a nice fresh batch, but we were too far down the line to even look at them! Of course those coins sold very well.
The majority of wholesale sales happened Wednesday. We were scared with how we’d do. Our expectations for the show were minimal. Of course the unexpected happened, dealer to dealer trading was very strong. We know of one individual dealer who sold $175,000.00 on Wednesday alone. Our “super secret” seller broke $100K too. It was a bit nerve racking as the first few hours started very slow. The major buyers did not attend as they were busy back in their offices dealing in gold. We were both pleased and surprised about what we sold and the different people we sold too.
Overall, the show was good for us. Considering the fact that tax time is upon us, which always slows the coin market, and the fact that next week you have two major auctions, people still seemed eager to buy. Interestingly, we sold far more Type than gold.
Better gold is still red hot-IF you can find any. We actually did NOT see many generic gold pieces laid out at tables. A major buyer bought ALL GEM Saints-at our full asking prices. We do still need PCGS CAC or CACG MS 66+ Saints. We are paying $6,250.00 and will take 10 more. Call or email us if you want to sell tany-or any coins overall. For sure, there are no quantities of these coins for sale.
With gold hovering around $2,175.00 how can you not want to buy PCGS NO CAC Saints at $2,375.00? That’s only a 9.2% premium over spot gold! We’re selling super nice CACG coins for $2,475.00 (and we have sold many of them recently). We would be shocked if the price of gold does not hit $2,200.00 shortly and hang in there for a while.
Last, we expect next week’s auctions to be SUPER strong for better coins. And please, ask yourself before bidding on any NON CAC coin without seeing it, why hasn’t it been sent in? Typically the auction house DO send the coins in. This is why we always advise people to work with a good dealer. We’ve seen too many collectors over the years hurt by thinking they see something the dealers do not. On these bigger sales, typically dealers spend days looking. So very little falls through the cracks.
NEWPS
As aggressive as we tried to be, our buying was weak. We just can’t find the juicy coins anymore even if we get the first shot. VERY frustrating. In fact, a group of us sat around remembering the good old days of 2001-2006 when we had the opportunity to buy from great collections like Knoxville or find incredible coins being sold by dealers. Oooh! has the coin market expanded dramatically in the last few years!
Around 7:30 AM Friday we posted a $2.5 1910 PCGS MS65+ CAC. At 7:45 it was hit! We had two other smaller NEWPS where the same thing just happened. Crazy!
We do not expect to post more NEWPS until April 6th. Of course stay tuned for our coins of the week. We have two deals in the works we are flying out to buy in the upcoming weeks. We also have over 30 FRESH coins at the services. We know grading is tough, but we expect good results.
It’s a really good time to buy quality coins IF you can find them. At the Baltimore Show, if you wanted bland widgets, that is what dealers mostly had. The days of seeing GEM Stellas, choice MS Bust Dollars, or Early Walkers are over.
We work hard to maintain one of the BEST QUALITY and BEST LOOKING inventories in the business. Check out our ever shrinking regular inventory too!
IF YOU HAVE ANY QUESTIONS OR WISH TO ORDER, EMAIL US. WE DO NOT CHECK OUR PHONE MESSAGES UNTIL 9 AM MONDAY!
