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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

February 18, 2008

Business Brisk in Long Beach

     After a slow start in Long Beach, the majority of dealers wound up having a very successful show. It was perhaps the most retail activity dealers had seen at this show in a very long time. Wholesale activity picked up as the show progressed.

     The three major auctions last week continued to indicate a strong showing for early rarities. Ira & Larry Goldberg, Superior Galleries, and Heritage Auction Galleries totaled over $30 million dollars in prices realized. Early Gold and high grade Type coins, especially low population issues, are in high demand and the buyers are very aggressive. MS65 and MS66 Morgan and Peace Dollars are on the rise with buyers looking for most dates.

     Despite higher Platinum and Gold bullion, premiums for common date modern coins have dropped considerably; dealers are presently more conservative. Common Gold and Platinum issues are being discounted below melt. The over-abundance of high grade coins has been a concern. Dealers are not about to risk their inventories with the potential downturn of the metals market. Conversely, with the major rise in Platinum there are numerous advances for Platinum modern issues.

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NumisMedia Weekly Archive
Current News and Analysis of the U.S.
Rare Coin Market