This week finds the DLRC team set up at the CSNS show in Schaumburg (don’t call it Chicago), IL. While I (John) am unable to attend due to some obligations at home, we’ve dispatched the J-Team (John, John, Amandeep J, and Julia) to represent DLRC. So, if you’re attending, please don’t hesitate to stop by table 910 and say hello. Early reports from the group are that there’s been a lot of wholesale activity going on and the market still shows all of the signs of being hot.
Back in the office, we’re focusing on the current auction activity - two fantastic collections highlighted on the DLRC website. The first offering, ending this Sunday night is the Maverik Modern Collection, which features a complete set of Proof Silver Eagles, graded by NGC as perfect Proof 70s, all with the John Mercanti (designer) autograph, as well as a complete set of $50 Gold Eagles and a complete gold Buffalo set with the same grade and autograph. It’s a fantastic offering of specialty collectibles that have garnered a lot of interest over the past 2 weeks. The following week is highlighted by a complete Morgan Dollar and Peace Dollar Collection with a near-complete set of Morgan Proofs from the same Collection. The popularity of these issues, highlighted by the 1893-S PCGS AU53 and the 1895 $1 Proof NGC Proof 62 is certainly strong based on the activity we’ve seen so far. Don’t miss these auction offerings in this week’s sale. Interest-free layaway terms on coins over $10,000 are also available, just let us know if you have any questions!
One interesting anecdote that I wanted to add shows the current market activity and an example of how some young people choose to get involved in the hobby. My wife was out of town for a weekend about a month ago and I was on dad duty watching my 2 sons. My oldest (Wes) is 12, followed by his 11-year-old brother. In our quest for some activity on a chilly morning, we decided to search for a few yard sales for collectibles. My kids are definitely collectors at heart trying to find their way…coins are certainly there, but I haven’t pressured them to pursue my career/hobby as I want them to find their way. However, they do hear me talking about coins and have helped in the office rather regularly. Well, at one of our stops, a Yard Sale store with some antiques and collectibles, there were 2 beautiful, white NGC MS66 Morgan Dollars, priced at $179.99. Wes bird-dogged the coins immediately and said “Dad, these are MS66s, aren’t they worth more than this? Can I get a loan from you and buy them?” He had some semblance of a sense of value as I had him sorting Morgan Dollars a few weeks earlier so I said, “Sure, let’s give it a shot.” On our way home I asked, “Wes, you found those coins. What do you want to do with them…Do you want DLRC to buy them from you or would you like to consign them?” I knew they were worth more than anything in his “collections” so this seemed to be the best way to pay back his loan. He decided to consign them and split the proceeds with his brother since they were searching together. I really wanted him to sell them outright to make it easier, but I learned that I was giving bad advice. I figured he’d get a $50 per coin profit either way and they’d be thrilled. Well, one of the coins went through auction 2 weeks ago and today there was a consignment payment on my desk for one of the coins. They made $180 on it. I blew my top (in a good way) and notified them when I got home. There was a lot of excitement in the household and now my son thinks what I do is super easy. They don’t quite get the concept of the need for scaling such sales or that in most cases we make $10-$20 on such coins, but I walked away with a lesson as well. I learned that in today’s market, the activity is there. And while selling coins outright may seem to be the right move in many situations, consigning is so easy a 12-year-old can do it!
Thanks for humoring us this week and we hope that you enjoy our further offerings in this week’s Coins We Love!
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