Archive for category: Market Reports News

We hope everybody is enjoying their holiday season. No matter what holiday you observe, this is a time for us to reflect and be thankful for all that the previous year has afforded us. From a numismatic perspective, there certainly were a lot of twists and turns, making this an unpredictable year, at the very least. From a personal perspective, The Reeded Edge had a very good year. We noticed a definite uptick of collector business, as we reacquainted ourselves with some old friends as well as forging relationships with some new ones. Irrespective of the amount of business that we transacted with each of you, we want to take this moment to thank all of you collectively. Without your patronage and support, we could not sustain servicing this hobby that  means so much to each of us here.

As we eluded to earlier, the market had its share of unpredictability, and nowhere was this felt more than in the wholesale sector. Dealers who predicated their business on reselling to other dealers and/or using auction companies to sell their wares, had a much more difficult time than their counterparts. Cash flow seemed to be a concern for most of this group throughout the year. To make matters more difficult, auction companies factored into liquidating coins for dealers whose business had slowed elsewhere. Consequently, the auction companies were inundated with ordinary coins, which many times were ignored by their buyers and sold at discounts. As these prices were summarily reported, the impression was that the market as a whole was going down, and the wholesale dealer’s job became exponentially more difficult. This situation did manifest itself throughout the year, but fortunately, was limited to the wholesale side of the coin market. Conversely, collectors were more starved than ever for fresh and nice coins. They reveled in the perception that the market was declining, as it allowed them to buy coins at new lower levels. What hindered one side of the coin market, was a positive to the other. The collector was the critical component in keeping the coin market healthy in 2018, and for those of us who serviced these folks, a good year could be had.

The ten million dollar question is what does 2019 hold? The answer depends who you ask. For the dealer contingent servicing the end user, the outlook remains positive. The wholesale sector’s optimism would probably be a bit more measured. For these dealers, the status quo is not an option. If things don’t change for them, we will see an inevitable thinning of the herd (which may not be a bad thing, but that’s a discussion for another day). Looking into our crystal ball, we predict another solid year for numismatics, as collectors seem firmly entrenched in the hobby. Obviously factors such as the economy, financial markets and political perceptions all will come into play. But that aside, there are plenty of new collectors coming on board, and a good number of older ones rekindling their interest in coins. Both are good signs, and give us reason for hope looking forward.

Amazingly, it’s almost that time again to talk about FUN. Yes, the Florida United Numismatists Annual Convention is quickly approaching. What we love about this show….well, is EVERYTHING! As always, it kicks off the new year, and with the new year comes new promise and opportunities. Florida is warm in January, especially for us mid-Atlantic snow birds, and that psychological element comes into play, as well. Equally as important is that FUN breaks a month-long hiatus without a major coin show. For these reasons and others, the dealer community comes together to support this show like no other. Some dealers even make this their sole major coin show of the year. We have contended that if you put 1000 dealers together in a convention room that want to do business, we will figure the rest out. This always seems to be the case at FUN. This show is equally as well supported by the general public for many of the same reasons. It seems that most attendees intent is to get the coin market off on the right foot, and FUN serves as the springboard to do just that. Thankfully, after a couple of stints in Tampa and Fort Lauderdale, FUN is returning home to the quintessential Orange County Convention Center in Orlando. Rob, Robbie and Miguel will all be on-hand at The Reeded Edge’s booth #716 with a full array of certified coins for your consideration. Equally as important, the guys will be aggressively buying looking to supplement their 2019 inventory. We will have much more about this show in the upcoming week, but this is one event that we are all enthusiastically looking forward to.

Finally, we wanted to take this opportunity to wish you and yours the happiest of holidays and a happy and safe New Year. Thank you from all of us at The Reeded Edge for making 2018 a truly great year.

It’s hard to believe that we are in the midst of yet another holiday season. Where did the year go?

In retrospect, the coin market has been a real wildcard. Certain areas, such as eye appealing collector coins have remained strong and seemed in short supply throughout the year. Other areas, like generic Walkers, Dollars and Gold, have been soft, with supplies exceeding demand. The trick has been trying to acquire the coins that are on everybody’s want list, while discounting the others and thereby staying a step ahead of this declining sector of the market. This was not a year to hold coins, and perhaps more than ever in company history, we committed ourselves to turning inventory quickly and efficiently. Despite the obvious challenges, we feel like this year was mission accomplished, and from our perspective, an overall success.

The Reeded Edge will be closing out our 2018 coin show schedule this coming Saturday and Sunday with The Annandale Coin Show. Always a holiday favorite, this show is usually well supported by a strong Northern Virginia collector contingent, and we see no reason that this year should be any exception. Both Rob and Robbie will be in attendance at their multi-table location in the front of the bourse hall. This Fall has been anything but dormant, and consequently, The Reeded Edge will have hundreds of new certified coins available for sale. While most rare coin firms are trying to reduce inventory at year-end, we are more of an anomaly than the rule. Along those lines, the guys will once again have their open checkbook policy in full effect, so please offer them any fresh and worthwhile numismatic properties that you have for sale. Their giant BUYING, BUYING, BUYING sign will serve as a reminder to this, and should be visible from all vantage points in the room. Hopefully Northern Virginia, and the greater DC area are in your plans for this upcoming weekend, as we would love to see you the show.

In closing, we want to wish a Happy Hanukkah to all of our Jewish friends. We hope that this holiday brings you peace, prosperity and happiness.

It really is hard to believe that the holidays are upon us again. 2018 has been a challenging year for the coin market in many ways, but thanks largely to you, our customers, we have persevered. Throughout the year, this market has become much more selective. This selectivity goes in tandem with the full throttle return of the collector, which has been the driving force for the renewed demand on collector coins, and correspondingly, the weakness in generic coins. We have witnessed series such as classic U.S. Commemoratives, Standing Liberty Quarters and early-date Walkers all experience a renaissance. Conversely, generic common date material has languished with many of these coins trading at all-time low premiums. A good case in point are common-date $20 gold coins which exist in abundant quantities, and are priced closer to their intrinsic value than ever before. (We actually think that this area presents a buying opportunity, but that is a conversation for another day).

But, we digress….This is a time of year to give thanks for all that is right, and that starts with you. Without your support and loyalty, we wouldn’t be here. Yes, we love this hobby and being able to service it. We share in your passion for numismatics, and take pride and satisfaction in knowing that we are helping you, even if just some small way, to advance your collection. Here at The Reeded Edge we are all collectors, both in heart and in practice. This is such a great hobby, and it starts with the people. Cherish your coins (as you should), but most importantly, give thanks for those around you that provide love and comfort. Coins aside, that is the real importance of Thanksgiving and the upcoming holiday season.

We would be remiss if we didn’t at least mention our upcoming Black Friday Sale. We have tried many different approaches to this popular shopping weekend, with some campaigns more successful than others. We really believe that this year’s sale will be one for the ages, with no item excluded, including our listings on eBay. Stay tuned for more details.

From all of us to all of you, Happy Thanksgiving!

There were several takeaways from last week’s Whitman Baltimore Coin and Collectibles Exposition. First and foremost, the wholesale market challenges are very real. In a nutshell, there simply aren’t enough fresh coins to supply this sector. Consequently, stagnant inventories cause prices to depress. Depressing prices result in dealers holding coins longer than they should. By doing so, their cash flow is affected; instead of having money to reinvest in the market, they find themselves with depreciating coins. This market scenario has been manifesting for some time. Holding inventory right now is like playing Hot Potato. With the current market conditions, it is essential to tier inventory and keep the oldest coins moving. Those dealers that follow this business model are surviving, and some are even thriving. But the others who just keep holding onto their coins for dear life, hoping and preying that the market will recover and allow them to realize a profit, are dropping like flies. In Darwinian terms, this is called a thinning of the herd, and necessary for the recovery of the wholesale sector. Too few fresh coins in the marketplace equates to less dealers to sell them. As the pie shrinks, so do the mouths that feed on it.

In all, Whitman did their usual great job in filling the room with quality dealers from around the country as well as thousands of collectors eager to do business. The irony is that collectors had no sense of the wholesale challenges and conducted their business without missing a beat. Perhaps, there was a slight pause in business created by the correcting financial markets, but it truly was only slight. This was probably most felt on Thursday, the first day of the show where smaller-than-normal crowds were evident. But that aside, Baltimore performed in the usual strong way that we have become accustomed to. Rob and Robbie were doing business pretty much non-stop for the entire duration of their stay. At the end of the day, buying, selling and show grading all received B/B+ marks, not too shabby given underlying circumstances.

This week, the guys will be finishing out their show marathon in Vienna, VA for The Vienna Quarterly Coin and Stamp Show. Although this shows falls just one week after Baltimore, Rob and Robbie are not too concerned with market saturation. Curiously, Vienna has its own loyal contingent, some of whom also attend Baltimore, but many who do not. With quite a bit of brand new inventory in tow, The Reeded Edge will be primed for doing business. The guys will be set up at their usual spot by the show entrance. Just look for the giant BUYING, BUYING, BUYING sign, plainly visible throughout the hall. Not to belabor the point, but The Reeded Edge’s open checkbook policy will be in full effect. Plainly stated, if you have any fresh coins for sale, be it a single prized possession or an entire collection, The Reeded Edge want to be your go-to dealer and is prepared to earn your business. If Northern Virginia or the D.C. area are in your plans for this weekend, please consider stopping by The Vienna Community Center for this great little show.