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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

September 14, 2009

Buyers Focused on Gold at Long Beach

     With fewer dealers and more public in attendance than the previous summer show, the Long Beach Expo was much better than most dealers expected. Dealers specializing in Gold, especially generic U.S. Gold or modern issues, were busy much of the show. It also helped that the price of Gold was up all week long; breaking through the $1,000 barrier again is significant in determining the direction of the current market. Many wholesale dealers, working the floor trading with other dealers, reported substantial sales and were satisfied with show results.

     Coin prices appear to be more stable at current Market levels than in previous months. There are fewer declines listed in this week’s LD Wholesale Market Dealer Price Guide. Dealers are more willing to purchase nice coins at listed Market prices because there are not enough fresh coins in the market. However, tired old inventory still needs to be discounted. A number of dealers are looking for Seated Dimes, Quarters and Halves, but they want unaltered (problem free) coins.

     The 1824/2 Bust Quarter is a hot item with grades of Good through MS62 on the rise. Not only does this coin have a low mintage, but the population of coins certified is low as well. And with its lack of availability, it appears to be an undervalued coin. Buffalo Nickels and Mercury Dimes are the two series that are not characterized by stability. Too many coins on the market have made prices of some of these dates lower again this week.

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