The price of gold has continued to teeter around $2,000 with a few drops below over the last week. While it has certainly created a lot of excitement for those dealing in bullion products, I would say that it hasn’t had a significant impact on rare coins.
The rare coin market is still in an interesting place where rarity and quality are both key. However, the rest of the world seems unsure of what is really going on economically. In our area of Virginia, we saw real estate slow down for a few months, but the interest rates have stopped scaring people, and the housing market seems to be going crazy again. We’ve been selling off generic gold coins that we have in stock as the premiums have started to skyrocket again. When we do this, it typically means that prices will jump another 10-15% at least (since we have none to sell). We love the “action” and are happy to move along product when it makes sense. So, if you want to follow us and sell some gold holdings, we’re happy to help. With the levels where they are, it seems like a great time to take some of that coin equity and put it into something else for your collection.
This week has been full of preparation for the Central States Coin Show in Schaumburg, IL. It was also a week of travel for some of the team as they picked up a collection from a long-time collector in New Jersey. There has been a steady stream of collectors who have spent years putting together large (in quantity) collections that are taking advantage of the solid market. It’s not an alarming concern as we have so many new customers buying coins, but it definitely keeps us moving on a daily basis. If you have a collection that is too large to handle (in size or value), give us a call or email! We’d be happy to see how we can best assist. If the value is the issue, we can utilize our shipping and insurance to make your life easier. If it’s a logistical issue due to quantity, we can get a little more creative. That’s why we have folks on all sides of the US that can help us!
The Central States Show is already next week! We’ll be located at table 803, right near the entrance. If you walk in and go straight ahead, we’ll be on the right, 3 tables in! It’s the best location we’ve had at this long-standing event and we’re excited to meet some of our folks in the Chicagoland area. We’ll be there Tuesday-Friday, so if you’re planning on attending and have something on our website that you want to see in hand, let us know by Monday! We’ll be happy to get it to the show for you. While we don’t necessarily expect the retail attendance to be massive at this event as the Schaumburg location leaves a bit to be desired, we know that it will have a record amount of dealers and we’re excited to see this rejuvenation to a proud annual event. So, please let us know if you’re coming and we’d be happy to see you there!
Thanks again for reading and we hope that you enjoy this week’s presentation of Coins We Love!
Your Friends at DLRC
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