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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

February 8, 2010

Long Beach Active Despite Lower Metals

     The Ship of Gold display by Monaco Financial produced the desired results. Nearly fifteen hundred collectors attended the first day of the Long Beach Coin Expo, many just to see this fabulous presentation of treasures recovered from the S.S. Central America. Attendance records for the Long Beach Expo were set and business flourished even though the metals took a dramatic downturn on Thursday. Most dealers reported the show was much better than they expected. There were plenty of buyers more than willing to take advantage of the lower prices for Gold and Silver related coins.

     This past week several dealers were trading Morgan and Peace Dollars, along with Walkers at discounted levels. Most of the trades were for the more common dates in MS64 and MS65. However, these were generally for sight-unseen coins, which typically represent lower end quality for the grades. The problem is that if this continues for a long period, it could have some effect on the sight-seen market as well. The sight-seen market for Morgan Dollars appears to be very healthy. Better dates are in demand, although buyers can be a little fussy. Carson City GSA Dollars certified by NGC were especially active at Long Beach. Collectors can be very competitive for the highest grades because these have very low populations.

     This week's LD Wholesale Market Dealer Price Guide reveals only sporadic adjustments in most series. Early Copper is steady with specialists always looking for specific dates within the Half and Large Cents series. There is a new visible buyer for Proof 60 to 63 Indian Cents and Two-Cent pieces, which resulted in some upward adjustments. Proof Liberty Nickels are also on the radar for a few dealers at this time. While Seated Half Dimes, Dimes and Quarters are not breaking any records, they seem to be salable at current Market prices as long as they do not have negative eye appeal. Better dates will attract a lot of competition when they appear in auctions.

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