Market softness is common stuff
by David Albanese
Hi everyone out there in cyber-space. Fall is here in its entire splendor. We were hit with an unexpected blast of early winter mid October. It snowed 13 inches of wet, wet snow and Western NY was plunged into darkness for several days due to down power lines. Many areas are still without power. Luckily, I have a big generator so we could keep up with the outside world and, most importantly, keep warm!
I have been reading lately how the market has softened up somewhat. Yes, that is partly true. If you read on, you'll see the softness lies with common dated coinage. Better date rarities continue to see incredible demand way beyond supply. I have conversed in the last few days with some of the most esteemed names in Numismatics and they have but one simple statement on the Market: Great coins are super scarce, no if, ands, or buts!! Great coins continue to be in strong hands and it's going to take a lot to pry them away from their owners. In fact, many probably won't surface for many decades from now, if we're lucky. Just look at auction... what's there? Not much, other than just "stuff". Not much of any serious consequence. Even down the line there are but a few really special coins coming to auctions. FUN should be relatively good with some special rarities being offered, but not in any great numbers.
Proof gold is experiencing an enormous up-tick in sight unseen bids, according to this weeks Blue sheet; to the tune of 67 pluses, and no minus bids. Still, no great numbers of proof gold are available to anyone. I hate to give myself a "pat on the back" but for several years now we have been touting Proof gold as a "must buy" if you can afford it. I would love to be able to have some of the extreme rarities we have placed over the past ten years. Most have gone up a minimum of 100% - 250%! Make no mistake; we will see this aspect of coin collecting continue to move up and up. I have no doubt at all that this will happen.
Well everyone, stay warm and good hunting. Many thanks for your continued support of our business. We deeply appreciate it.
David M. Albanese, CEO, Albanese Rare Coins, Inc.
David Albanese is a Nostomania coins advisor. Albanese Rare Coins can be reached at their outstanding web site.
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