Coins We Love: Expect the Unexpected
Jason and I had the pleasure of taking a friend out to lunch to discuss what we do at DLRC last week and Jason made a comment that is one of the most accurate statements I’ve heard about our operation - “no day is ever what you expect or the same as the previous…” That is absolutely the truth and was a perfect overview for us last week. Last week was the perfect storm of so many different events occurring and being thrown at us at one time, it was like trying to catch crabs on the beach (without bait or traps!). In the end, it all worked out smoothly, but when this week approached we needed a week of normalcy so we could get things back in order…and that’s what happened this week.
We’ve focused on getting new purchases processed, imaged, and ready for primetime and as a result we were able to set up a nice little auction that has a wide variety of pieces that are perfect for every level of collector. We also were able to focus on putting together our Spring Super Sunday Sale that will be launching this time next week. While that auction will be very limited in quantity, it is overflowing with quality and really neat pieces! Highlighted by an unreserved almost complete set of $3 Gold pieces, some remaining highlights from the Linda Gail Collection of Franklin Half Dollars, and capped off with some major pieces being deaccessioned from the D.L. Hansen Collection. This is not an event you want to miss! Stay tuned until next week…same Bat Time, same Bat Channel.
One last comment regarding the current marketplace is that it continues to be incredibly active. We’ve seen a number of major auctions in the past week and the prices have been incredibly strong on the higher quality pieces. On the wholesale market, we’ve seen generic Morgan Dollars reach their highest prices in 15 years! Why? Well, there’s an insatiable demand for coins in the $50-$5,000 range. Coins in the over $5k price levels are selling better than they have in years, but the coins in the lesser ranges are simply jumping off the shelves and aren’t replaceable at this time. Frankly, it’s a great time to sell if that’s the mode you’re thinking about…or a time to use your coin equity in pieces that don’t fit your current directions.
However, on the buying side, the question is “what are coins worth?” Well, the seller’s market continues to produce some crazy results and the printed price guides simply can’t keep up. Unfortunately that’s the nature of the market right now, especially when it comes to eye-appealing coins. Heck, even some of the unappealing coins are starting to leave the marketplace…when that happens, you know that the overall market is active and I don’t see the winds changing direction anytime soon…but hopefully we’ll continue to be able to source coins from all of the numismatic nooks and crannies and we’ll keep trying to come back with more next week!
Click here to continue reading.