As the late fall crusade looks to keep the passionate numismatic brethren focused with a plethora of coin conventions, it’s the average Joe collectors in the world that are fueling the market with purchases week in and week out. The sheer magnitude of weekly internet-only sales is definitely an eye opener. Massive volumes of better plastic including Type and key dates, typically ranging from a couple hundred to a few thousand dollars a pop, are making their appearances felt. In an average month, over $4 million in sales is generated in these bi-weekly and tri-weekly encounters hosted by Heritage, Teletrade and David Lawrence. Others, including Bowers & Merena, Stack’s and Superior have recently gotten onboard as well. CCE’s Big Generic Market has just concluded its first year with their new format. This powerful sight-unseen segment of the certified coin caravan is approaching $20 million in transactions as it closes out its first year. Internet-only auctions and the CCE Big Market combined are raking in nearly $6 million per month.

     A solid audience has made the trek to the east coast to attend Coinfest in Stamford, CT, November 7-9. Well produced shows such as this are strategically drawing from a significant and rich collector base. Buyers are keeping their eyes peeled for flashy, problem-free Gold Type at reasonable levels—if such a thing exists—in this present market. Based on this show’s locale, early federal and sundry colonial Copper is likely to do well. CAC, the company adorning PCGS and NGC slabs with green and gold stickers, is providing a free service to collectors at the Stamford show. Saturday, November 8, CAC will attempt to evaluate up to 20 coins per collector free of charge. So far, CAC has received 69,611 submissions in its inaugural year, of which less than half, some 34,195, have been awarded the green sticker. Only a scant 138 have been bestowed with the coveted gold sticker, which indicates a prime candidate for an upgrade. In total, rarities valued at over $400 million have been CACed, which is definitely making a sizable impact on the rare coin marketplace.

     Classic Silver Commems feature a cast of seven on the upswing and only a few of dissenters. Leading the surge with double-digit action is the PCGS MS67 Lincoln at $1,250. While key date Morgans are enjoying continued support, commoners in MS64-65 are down, with those in Gem drifting to $123. Several other Morgans left some action on the table. For example, the popular 1903O NGC MS63 sold at retail auction for $298 with a sight-unseen Bid of $345 going unnoticed and remaining in place. Mint State and Proof Type are getting a touch of an Indian summer. Top-tier Liberty Seated Halves With Motto and Barber counterparts are feeling the heat in several grades, the former claiming $9,500 for PCGS MS67 material, and the latter in the same grade tops $9,200. Proof Type is a knockout as the same heady buyer is raising the ante big-time for PCGS PR67 Liberty Seated Quarters With Motto, reeling in nearly a 30% advance. Ever-popular Barber Quarters race ahead over 55% as PCGS PR67 slabs encounter a hefty $4,300 blind offer. With only 45 making the grade as such, this buyer has probably sight-seen many of them in his travels. Mint State Gold Type is still an ongoing concern for buyers. As $5 and $10 Libs of the PCGS and NGC persuasion move up a notch, buyers are also shifting gears, willing to chase after most ANACS and ICG slabs to satisfy growing customer demands. Some bargains may exist here. While ICG and ANACS $10 Libs grading MS62 are reflecting a 10% gain, they are still 7% under the PCGS and NGC Bids. Mercs remain an enigma as viable, prominently featured blind Bids are missing the mark. Many Full Banded commoners in high grade continue to sell at retail venues leaving as much as 30% on the table.

Reprinted from Issue No.45 November 7, 2008 of the Certified Coin Dealer Newsletter - the Bluesheet
This article is copyrighted, may not be reproduced without permission from CDN publications. ©2008 CDN Inc.