For the multitude of dealers having enjoyed another prosperous year, the first order of business for many is to take care of the taxman as the ides of April are closing in fast. Yet even the temporary interruption with accountants can’t derail the dynamics of this ever-expanding coin market and may actually be the harbinger of even more opportunity for business. Although the government taketh away, the same bureaucracy is also giving back in the form of the federal stimulus program this year. Of course these welcome refunds are already earmarked by many families. Considering the lukewarm financial alternatives, countless collectors we have talked to can’t think of a better place to park some extra cash than into some quality certified rare coins. Especially now, as the slab coin arena is buzzing at a fever pitch, a goodly portion of hardworking, tax paying hobbyists are excited to upgrade or add to their holdings. Yes, the huge number of plus signs seen virtually each week on our Greysheet and Bluesheet pages as well as on our Quarterly and Monthly Supplement sheets each month is the coin market’s own stimulus plan to keep veteran collectors and the new wave of potential buyers highly motivated.

     The hunt is still on as buyers scour both known, as well as little traveled venues looking to snag eye appealing specimens. There is just no letup anymore. In previous years, prior to the extended bull run we have been enjoying, the spring into summer season usually marked a pronounced slowdown in numismatic circles, accentuated by the dreaded doldrums of late summer. Not anymore. As we go to press, many of the numismatic faithful have trekked to the west coast, hoping to strike Gold or perhaps at least Silver at the Santa Clara Expo. This affluent segment of the Golden State will hopefully translate into a prosperous beginning for the April road show. The action is expectedly going to be fast and furious as dealers attempt to fend off collectors and vice versa at each turn on the bourse and at Superior’s Elit eauction. Naturally, it is important to have enough cash or credit available to take advantage of any opportunity that may waft their way in California and Chicago at the Central States Numismatic Society meeting next week. The Bowers and Merena April 12 Chicago Rarities Sale will jump-start the activity, followed by PNG Day, and culminating with the CSNS show and Heritage Signature auction, April 16-19 in Rosemont, Illinois. Dealers will strive to increase their cash reserves by parting with some of their own premium quality coins. These are some of their better quality slabs submitted to CAC and returned with a seal of approval, making their top tier coins much more marketable. Jettisoning some dreck Type coins into the sight-unseen market stream will also help in this endeavor. Surprisingly, numerous generic coins have already accelerated to higher levels, so cash-strapped dealers are able to receive a good price for them as well.

     The various trading networks are getting more of a workout these days. The oft maligned Classic Silver Commems are making more of a stand almost each installment it seems, as those trading below previous Bids are negligible. This time around, the popular 1925 Stone Mountain entry is once again taking a hike up the sight-unseen Bidding trail as those grading MS61-MS64 are sporting as much as an 18% elevation. Piping hot doesn’t quite seem adequate when telling the tale of the Morgan madness that is in many ways driving this market. Once again, buyers are chasing down as many of these gleaming centuries old Silver Americana that can be conjured up. Commoners are on the rise across the grading spectrum as MS65s top $141 and lofty MS66 and MS67 designees claim $280 and $740 respectively. Prooflike Morgans are also taking quite a shine to buyers as MS63PLs roll up as much as 25% for 1901O examples topping a $75 blind Bid while dazzling MS65PLs reel in $180. As should be expected, both Mint State and Proof Type are not revealing any bargains as buyers look to pry examples from hiding at present levels. Buffalos, Full Banded Mercs and Walkers with or sans toning are receiving some sustained action as CCE’s Big Generic Market for this apt trio settles in after its inaugural week. Perhaps not so coincidentally, the Big Generic dealer roster has expanded 3-fold since its inception November 1, 2007.

Reprinted from Issue No.15 April 11, 2008 of the Certified Coin Dealer Newsletter - the Bluesheet
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