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First report from Long Beach Show
Bear
Posts: 18,954 ✭✭
Light traffic on Thursday. Many dealers seemed to just be staring at the ceiling.
Classic Commemoratives were flat to soft. The two tier market appears to be expanding.
PQ coins were drawing high prices while hum drum coins were flat to soft. As an example
I sold three PCGS AU-58 PQ Capped Bust Halves for 1500 dollars each. The fourth specimen
was a PCGS MS-62 PQ crusted for 2500 dollars. Once purchased, the four coins were sold
within 10 minutes to another dealer.Overall, the market did not seem particularly strong
for anything but premium quality coins. Other lesser grades were a hard sell unless discounted.
I have a matched, color set of Barber Halves, in VF-35 to XF-40. Had I brought them to the show
and if I intended to sell them, would have brought well over ask for the set. Thisa is indeed a strange market.
There is apparent manipulation of auction prices by sophisticated bidding used to run prices up for friends, that may
giving a false sense of security to coins bringing unusually high prices. Nice looking coins are bringing retail prices in
the stratosphere. It is somewhat doubtful,if those purchasing such coins will be able to dig them selves out ,any time soon.
This is generally considered the weakest of the various Long Beach Shows and this must be considered when one tries to
determine the direction of the market. Mark Feld was working the Isles but I was not able to catch up to him. I spent some time
with Mike from Larry Whitlow as well as Wayne Herndon . As usual, I sold some nice Barber Halves to Wayne at a very fair price
as well as a lovely Bust Quarter in AU-55 toned and a Bust Dime in AU-58 toned. So much for the morning report.
Classic Commemoratives were flat to soft. The two tier market appears to be expanding.
PQ coins were drawing high prices while hum drum coins were flat to soft. As an example
I sold three PCGS AU-58 PQ Capped Bust Halves for 1500 dollars each. The fourth specimen
was a PCGS MS-62 PQ crusted for 2500 dollars. Once purchased, the four coins were sold
within 10 minutes to another dealer.Overall, the market did not seem particularly strong
for anything but premium quality coins. Other lesser grades were a hard sell unless discounted.
I have a matched, color set of Barber Halves, in VF-35 to XF-40. Had I brought them to the show
and if I intended to sell them, would have brought well over ask for the set. Thisa is indeed a strange market.
There is apparent manipulation of auction prices by sophisticated bidding used to run prices up for friends, that may
giving a false sense of security to coins bringing unusually high prices. Nice looking coins are bringing retail prices in
the stratosphere. It is somewhat doubtful,if those purchasing such coins will be able to dig them selves out ,any time soon.
This is generally considered the weakest of the various Long Beach Shows and this must be considered when one tries to
determine the direction of the market. Mark Feld was working the Isles but I was not able to catch up to him. I spent some time
with Mike from Larry Whitlow as well as Wayne Herndon . As usual, I sold some nice Barber Halves to Wayne at a very fair price
as well as a lovely Bust Quarter in AU-55 toned and a Bust Dime in AU-58 toned. So much for the morning report.
There once was a place called
Camelot
Camelot
0
Comments
<< <i>Classic Commemoratives were flat to soft. >>
I like the Classic Commem series. Glad I'm holding what I have. They'll have their day in the sun. Just hope I'm around to see it.
<< <i>Mark Feld, Mike Printz, Wayne Herndon >>
I see you run with the best
There is apparent manipulation of auction prices by sophisticated bidding used to run prices up for friends, that may
giving a false sense of security to coins bringing unusually high prices.
Gee, I'd like to know more about this.
If I had it my way, stupidity would be painful!
<< <i>Great report, Bear, thanks.
There is apparent manipulation of auction prices by sophisticated bidding used to run prices up for friends, that may
giving a false sense of security to coins bringing unusually high prices.
Gee, I'd like to know more about this.
Yes, please comment further on this topic.
Jimmy Hoffa.
Camelot
Young Numismatist ............................ and growing!
Next time, maybe consider bringing the coins to "another dealer" first!
Liberty: Parent of Science & Industry
U.S. Type Set
Considering that bears can run up to 25-30 mph I can't see why you had any trouble tracking down Mr. Feld.
roadrunner
who he was. The advantage of having a reputable dealer such as Larry Whitlow
handle the deal, is that they know all of the specialty dealers for particular types of coins.
These are the small vest pocket specialists that will pay the very highest prices.
Camelot
Thank you for the report, brother Bear.
Impressive was the $27K+ for a PF67 NGC 1873 no arrows half.
That's normally a $6K coin. This one was very pretty. Maybe someone thinking PF68 at PCGS on that one....or just 2 gotstohaveit
bidders. Prices like that seemed far and few between. An 1866-s dime in MS65 NGC fetched $18,000. Rather strong imo as 66-s dimes
are available from time to time.
roadrunner
Keep them coming.
-------------
etexmike