Summer 2004 market talk
by David Albanese
Here comes summer!!! And the rare coin market continues to be in the up beat mode. Auctions are still bringing record prices for great material and yes there is a shortage of nice quality coinage. But if you look at things realistically you'll see great coins always have brought good money premiums above just so-so coins, which there are tons of. In my humble estimation collectors get stuck to one certain slab and take that for gospel that if it says it's a certain grade it surely is. Well that just isn't so. You should look carefully at each and every coin you intend to spend your hard earned money and make sure the eye appeal is up to your standards and don't be fooled by the grade, as all isn't as it should be sometimes. Both major companies do make mistakes and they may believe they're right but they are doing their job in a way that really is beneficial to the consumer. Certification is the best thing that has happened to rare coins but still you must judge each coin individually.
We have always stressed quality, rarity, and eye appeal as the three most important factors when purchasing coins. On the mood of the market - it is very strong but as some dealers put it "It's on Fire" and may be true for some issues, but not for all as there are still bargains out there and always will be. Sometimes I feel the market is hyped up just to move prices up. True rarities will always be in demand and most of the time their numbers will be restricted to a small number of coins as it always has been. If you take the time to look at the prices some of this modern coinage is bringing you'll see many great coins 100+ years old coinage is a real bargain as my feelings is the modern market is so blown out of proportion it's stupid. How can a coin where there are literally tens of millions minted be rare as only a tiny fraction have been certified. It just doesn't make any sense just because the holder says it's a super grade doesn't really mean much to me as the mint now produces almost all their coins in super grades, that is just the way it is. One of these days when all this "STUFF" comes on the market and make no mistake it will someday, it will be very sad for those who have invested tons of money in them!!! Be sure and check out all our new great coins including some of the finest certified.
Remember "rarity, quality, eye appeal." Talk to you soon, and please always feel free to call with any questions or concerns.
David C. Albanese, President, Albanese Rare Coins
David is a Nostomania advisor and can be reached at his outstanding web site.
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