Recent market report
by Dean Albanese
The mid summer ANA in Baltimore was great! Action was fast, the buzz was in the air, coins were on everyones mind (along with what restaurant to eat at that night) and the bourse floor was packed! I can't believe another summer has gone by, the bull market is still in full effect and strong prices are being paid with no end in sight! I don't like to always say, now is the time to buy but boy oh boy, the market is red hot still! I see good investments going into early rarities most of all, early bust dollars, early gold, proof and business strikes, and eye appealing Seated material. The true rarities are bringing the most (as it should), a PR66DCAM Quarter Eagle from 1837 we sold in 2001 for $170k with an estimated mintage of only 10 proofs sold well over $200k in the ANA auction in Baltimore. Those are the safest place to put your big money into, true classic rarities.
Also, 20th century collector coins such as the 1936-42 proofs and early business strike Walking Libertys are selling very nice and commanding premiums. The modern market (post 1942) coins such as high graded Registry coins are still bringing crazy amounts too. It seems there are a lot of people who want the best for certain dates and they sure do pay. I don't feel safe telling people modern coins are good investments because I really don't think they are, there are just too many of them out there that have not been graded. But it is a fun game to play with the high graded dates because they just keep trading high and selling high. I do feel safe saying some are gorgeous with their totally white appearance and they are great collector coins, not investment coins.
Keep the fun going and keep watch for good early buys!
Dean Albanese's father David is a Nostomania advisor and can be reached at his outstanding web site.
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