Coins We Love: What's Going On With Gold?!
I picked a heck of a week to travel across the country. Gold and silver continued to stretch their legs (and arms and neck!) and reached levels unseen. Generally, as we are not a bullion-focused company, it doesn’t have a huge effect on us. However, the last few weeks have picked up intensely, and while coins were doing well, they’ve started flying off the shelves again. The auctions have been producing a ton of activity, and when those events are over, the website takes its turn with direct sales. Overall, the market feels like it’s strengthening quickly.
One of my favorite segments of the market also seems to finally be getting its due. Classic collector coins under $1,000 (with eye appeal and being accurately graded) are going up in price and are leaving the market. This has long been one of my favorite types of coins to buy, but now they are becoming not only harder to find, but prices have finally started bumping up. The lack of quantity of these coins on the market over the last 15 years has finally caught up. Grading seems to get a little more expensive each year, but the roadblocks have not been an issue. While coin collecting has often been viewed as a hobby for the wealthy, this is a sign that the core collector who long supported the hobby is alive and well…and the number of collectors is growing!
I’ll report more on my travels in next week’s CWL! It’s been an exciting and exhausting time, but I got to “nerd out” on some coins that really made me smile. Pictures next week! As for now, I have to close out before the flight attendant tells me to put away my laptop. But, not before we share our latest bit of news here at DLRC.
We’ve partnered with 2 of my longtime numismatic friends (and one old DLRC friend that you may recall) and have launched a collaboration with Devin Hipp, Keith Moon, and Kyle Honore (left to right in the above picture), who have formed a new company called Numismatic Rarities Exchange (NREX). Now, these aren’t folks you’ll likely see on the bourse floor very often, as they are very behind-the-scenes kind of folks. But when I say that there aren’t 2 better graders in the coin business now, I mean it. What gets me most excited is the plans we have in development to support the future of the hobby. Keith and Devin teach classes at the ANA Summer Seminar and Witter Coin University, and I’ve experienced them as teachers in their element. In fact, the pair are wonderful at coins, but they may be even better numismatic teachers. We won’t likely say much about them (I’m pretty sure they prefer it that way), but I’m excited for the future and that we will get the opportunity to collaborate with more folks who love coins and want to support the hobby! Welcome to the DLRC Family, NREX!
Numismatically Yours,
John Brush
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