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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

June 7, 2010

Long Beach Better than Expected

     Even though numerous East Coast dealers did not make the trip west, the Long Beach Expo was considered quite a success. Attendance was well above normal for the summer show and many dealers reported better than expected retail sales. The excellent turnout of collectors was the focus for most dealers who sell to the public. The increased interest in numismatics and bullion has lead to higher sales volume that has influenced the overall market. Next stop on the show circuit is the Whitman Coin & Currency Convention in Baltimore on June 17 - 20.

     Many dealers are in the market for type coins that have extra eye appeal. Much of this is expected because of the new + grading by NGC and PCGS. We still have not seen too many of these coins on the bourse floor. However, the coins we do see have quite a premium on them. Dealers tell us that their customers have purchased most of the coins they receive from the grading services because they really like the idea behind the + designation. The one notable difference between NGC and PCGS is that NGC makes the + designation part of their regular submissions, while PCGS has a premium fee structure for this service.

     This past week the metals were soft and prices in the Moderns Wholesale Market Dealer Price Guide show many declines in the bullion charts. However, Gold has surged this morning near the $1,240 mark, so make sure you check current prices before you make a purchase. One ounce Proof Gold Eagles in original packaging are trading at $1,950 among dealers at this time. NGC and PCGS certified PR69 coins will trade at $1,750 and above depending on dealer needs. The 2009 UHR remains very active at present levels. In addition, the Early Release Prooflike in MS70 is now up to $6,500 wholesale with some limited offers at higher buys. Keep an eye on this coin, especially if you own any.

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