Coins We Love: Weathering the Storms
Some weeks are better than others, but the one thing we’ve learned is that we shouldn’t be surprised by anything in 2020. On Monday we were welcomed to our office with locked doors thanks to an electrical issue and once we were finally able to enter, our internet connection was down. In today’s world of running a digitally-integrated business, having no internet makes things more than a little difficult. As you might have noticed, our invoicing was a bit delayed on Monday, but once the internet came back around in the late afternoon, we were back to operating at peak efficiency. We suspect that the issue was a delayed hurricane ramification, but it was difficult to tell as we never could get a firm answer on what caused the issue. That being said, we greatly appreciated your patience… and if you didn’t notice that something was awry in the office, that’s even better!
The week has gone by much smoother since Monday and we’re still seeing an incredibly active collector base, even with the price of gold roller-coastering through the economy. We still think that it will likely settle above $2000 one day, but we’re not willing to make a bet on that. I was actually interviewed recently for an article regarding how gold is affecting the overall coin market and I’ve had some time to think about it. Does it affect the attitude of dealers? Absolutely. Store-front owners that buy over the counter and major bullion traders in particular are being impacted by the fluctuation however, I don’t necessarily think that it affects collectors. Sure it gets us a little excited, but with the overall activity of the collector market right now being as high as we’ve seen it in a decade, I think it would be a stretch to give the credit to gold because the trend began before the current run-up. Either way, we’re excited that things are heating up as it is slowly pushing up the prices of coins as supply is beginning to dwindle.
One thing that we keep track of regularly is our inventory levels. Interestingly, these have stayed consistent overall for the year, with a slight decrease over the last month, while our buying has doubled on average. Although it may not mean a lot without actual numerical values here, it tells you that we are handling a lot of fresh coins, even during this dry age of inventory that you may hear about elsewhere. DLRC has long been built to be able to shoulder this load and it’s really been a validating experience to be able to ride out this storm as comfortably as we have thus far. In fact, these levels don't even include the consignments that we’ve been featuring in our weekly internet auctions lately! And, speaking of which, one really neat collection that just went live is a group of coins, titled the First Year Rarities Collection. These fantastic early American issues are being offered as a Guaranteed Auction Program (meaning they are guaranteed to sell) and will be available for bidding until the auction closes Sunday, August 23rd. Overall, the quality and eye appeal is far above average on these coins and even if they don’t fit into your collection, they are a great selection to view and enjoy!
That’s all we’ve got for now. We hope that you have a wonderful week and we'll catch you on the flip side next Thursday!
Numismatically Yours,
John and Your Friends at DLRC
Read More Here: https://mailchi.mp/davidlawrence/coins-we-love-may14-112942
