Coins We Love: On The Road Again
The precious metals market continues to fly all over the place. We thought that the week would start off with some possible calmness...until we looked at the prices on Sunday evening and realized that the week would likely be another roller coaster. Well, here we go again.
I try to avoid the bullion conversation as much as possible as it’s just not our
focus, but as the metal prices have run up, the market has gained a lot of
confusion as the refineries who tend to melt the lower quality silver products
have stopped buying anything that’s just 90% silver (like coins) and are only
buying .999 fine as the process for melting and refining is too time consuming
to keep up with the prices. It’s a little crazy out there, but it helps us to stay in
our lane!
However, we will jump out into the HOV lane here and explain this week’s
Thrifty Thursday. The generic gold coin market is essentially run by $20 Saint-
Gaudens Double Eagles. These are the beautiful, highly-traded issues that
often come from overseas vaults. Interestingly the demand has dropped so
much on these that no one even wants them unless they are graded MS65 or
higher as the MS64 and lower issue demands are below the melt price.
However, MS66s have barely moved in value since the price of gold has
doubled. Sure, they’ve gone up 15-20%, but not 50%! And these are genuinely
difficult to find when nice, so when we ran into a stash this week, we said “this
is our golden opportunity!”. So, one week only, we have MS66 Saints available
at a discount for those that need a coin or two!
On the coinage front, the PAN Show turned out to be a great opportunity for
Jack and John as they came back with a wide variety of newps and JC made a
side quest to visit a local customer and came back with a huge purchase and
a great consignment! More on that in the coming weeks from that trip. Our
being on the road so much this quarter has been amazingly productive as
we’re not only hitting the shows, but are visiting customers as well! That’s part
of the fun!
And this week JC and Andy are down in my neck of the woods in Greenville, SC
while Wes, Jack, and I are venturing out to the land of the orange groves in
Southern California for the PCGS Invitational event. As of the time of writing,
we’ve been able to pick up quite a few interesting pieces that we can’t wait to
showcase in auction once we get home, but we’ll hopefully have some stories
to share next week as well!
Thankfully we’ll be home next week before gearing up for Whitman Baltimore!
The “slow” quarter of the year has been anything but so far, but we’re here
for it and we’re ready to have some fun!
As always, we hope that you enjoy this week’s CWL highlights and don’t
hesitate to reach out to us if we can be of assistance!
Numismatically Yours,
John Brush and Your Friends at DLRC
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