End of Summer 2005 market report
by Dean Albanese
Well, fall is upon us and with that seems to come revitalization in the coin industry. Although this past summer seemed to be better than most, it was like whenever good coins hit the webpage people were rushing to buy them before they disappeared.
Proof gold is on its way to surge up to new highs this year I have a feeling. More people are starting to see that they are the real "treasures" for reasons of both beauty, and rarity. For example, the 1933 $20's that just came out, 10 of them! I always said you can't count on all business strike coinage to be as scarce as they are proclaimed, not all of them at least. Because no one knows when another might surface. Proof gold on the other hand had tiny mintages, look at the 1927-D St. Gaudens, a coin that had a mintage of 180,000 business strikes, considered to be a very scarce rarity because of all the coinage that was melted and recalled. Before I dropped a million dollars to purchase a Gem conditioned example I would spend $100k or a little more for a Gem Proof 1915 Saint, a coin with only a mintage of 50 and far less than that known to exist.
The bottom line here is Proof gold should not drop in value due to the "facts" that surround these treasures, business strike rarities can fluctuate because the "facts" are unknown. Although you can't be hurt with certain business strike coins that have the fame, like the 1907 High Relief's, and the early Gold examples from late 18th century and early 19th century that are not in super high grades (rare as it is to find any in high grades).
To me, Proof coinage (not just gold) represents our nation's history, seeing as they were created for presentation pieces to other countries, to show off our beauty and artistic ability, these treasures stand to show other nations what we are all about. And because of the limited number of coins minted in proof state, to own one means you can be proud and know that you are one of few who have been lucky enough do so. And think about it, what better is there than Gold?
Throughout history tales of truth and myth have been told revolving around Gold. Its chemical make up which naturally holds a force field around it so it won't corrode, its softness and durability. When glaring into the mirrors it reflects on your face and shows of "light" bouncing around the room, there is nothing like it and Proof Gold shows the true nature of the beast, their appearances are that of the ones you read about in stories. These are the coins which will hold most value and history down our great Nation's historic timeline.
Dean M. Albanese, CEO, Albanese Rare Coins, Inc.
Dean's father David Albanese is a Nostomania coins advisor. They can be reached at their outstanding web site.
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