Coins We Love: Busy January!
My wife has kindly reminded me more than once over the last few days that I’m gone more in January than I'm in town. It could be worse, of course, but it’s been a constant reminder that we are in one of our busier seasons of the year. Coin sales aren’t a seasonal thing whatsoever, but there are certainly times when the travel schedule has been much busier than we’d probably prefer. Last week, while we were still trying to breathe following an absolutely insane week in Florida, I headed to NYC for the New York International Show. We weren’t set up there, but I had a few meetings with customers and some dealer relationships that I’ve been working on that were easier there than elsewhere. So, with an eye on yet another few days away from home, Wes and I braved the not-quite-frozen tundra and spent a few quick days in the city. It was a very productive visit, and we walked away with exactly what we hoped for, with some future plans in the hopper.
The show was quite different than the normal US events held in convention halls, as New York is just a different animal. The hotel venue (Intercontinental) is fine for what it is, but it provides a very limited space, with tables everywhere and activity going on in every corner of the room. It’s certainly an event where you can’t be afraid of close quarters, and I’m a little thankful that we were there only for the dealer day. I heard that the next day, when the public arrived, it was even crazier. Upon our return, I regretted not taking more photos of the show. It’s a great excuse to go to NYC for a weekend, if you don’t mind the cold and want to step out of our usual comfort zone of US coins.
Outside of the travels, we’re excited to see a new Mint Director starting to take the reins in a week or so. It’s certainly not an easy task to come in and raise the prices on silver coins by such dramatic jumps this week. But, with the market where it is, we expected some adjustments.
Otherwise, the last piece of news this week continues to be precious metals. Gold and Silver continue to make the news everywhere. Silver premiums have reached record lows, and unfortunately, many refineries have pulled back on their purchasing due to the large quantities and the huge price jumps. Ultimately, we’re seeing cash flow concerns, with processing times causing issues. If you’re looking to hoard silver (and hedge it?), it’s a great time to play in that market. You can buy it cheaper than ever before, but be prepared for some wild swings to continue!
One of our highlights is an upcoming Red Carpet Rarities auction consignment that will be listed next week — in one of our first forays into foreign numismatics, a fantastic selection of medals will be offered. The designs and artwork on these pieces are absolutely breathtaking, and I’m excited to see these on the website as one of our highlight auction events.
Thanks again for reading and we hope that you enjoy this week’s Coins We Love!
Numismatically Yours,
John Brush and Your Friends at DLRC
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