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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

November 16, 2009

Baltimore Coin Convention Entices Buyers

     With millions of dollars in bullion coins trading on a daily basis, the majority of collector coins have taken a backseat to day by day trading among dealers. The good news is that dealers are making money on bullion trades so they do not need to blowout collector coins which would create further declines. With the exception of occasional decreases, most series are steady. As the week begins, Gold has moved above $1,135 an ounce. Proof one ounce Gold Eagles in original packaging are wholesaling at $1,900 to $1,950 with very fierce competition.

     The Baltimore Coin and Currency Convention was quite a success. Dealers were extremely satisfied with the volume of business and expressed the common opinion that business was improving for most series prior to the 1930's. It looks like Morgan Dollars are beginning to pick up in grades MS64 and higher with several companies needing large supplies of the more common dates. There were plenty of serious retail buyers in attendance and dealers who usually cater to the public came away satisfied with overall sales.

     In this week's LD Wholesale Market Dealer Price Guide, there is a variety of adjustments with many of the declines nominal. Buffalo Nickels and Mercury Dimes are a carryover from previous sales of issues that have been readily available at discounts. In Half Cents and Large Cents, the changes are typically higher for coins that we have not seen trade for awhile. There is great interest in untainted coins in all grades. We found some lower wholesale prices for Indian and Lincoln Cents where levels had met some resistance. Lower sells will usually attract new buyers in these popular series. Despite the number of declines throughout the entire market, many dealers feel the overall market is reaching a good balance and should start to attract new buyers after the first of the year.

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