Coin Shops and Shows Look Towards Reopening
What started as a health crisis has evolved into something far greater. At risk, is our country’s economy. Fortunately the states (especially those less affected by the pandemic) seem to realize the true impending disaster, as they have begun reopening for business. This is an encouraging sign for the coin business. We now can envision a day where shops and shows reopen, perhaps some as soon as June. The assemblage of like-minded individuals gathering for numismatic activity is at the very core of both our hobby and business. Void of this, things have just not felt the same. Hopefully, that’s about to change. Tentatively, we have 2 upcoming shows on the horizon, Summer FUN and the ANA World’s Fair of Money. Please note, we are still showing all shows as CANCELLED on our Coin Show Schedule, but intend on updating this information as we get affirmations from the various sponsors. There is quite a bit of pent-up anticipation amongst the coin dealer community, and we have a feeling that the first few major shows to resume will be epic.
Things on the homefront are pretty much unchanged. Every week we thank our lucky stars, that throughout this pandemic, we have been able to come in our office and service our customers. As we alluded to earlier, shops have not had the same luxury. The coin market, even amidst all of the present challenges, seems to be very strong. Coin dealers are a resourceful group and collectors are a dedicated one, creating the numismatic perfect storm. Many of our peers have turned their attention to bullion. Physical gold and silver still appear to be short in supply relative to demand. Much of the price movement in metals is a byproduct of speculative paper trades. If each investor that owned a position in the metals markets was to cash out simultaneously, there would be a run on physical metals. In anticipation of this scenario, precious metals premiums have become significant, causing some coin dealers to stray from their traditional business models. We have taken the low road and opted to stay the course. The collector demand for quality numismatic material is also still there, but now with fewer dealers to service it.
The sourcing challenges created by the absence of shows and restrictions on travel are still very real. We are maintaining our aggressive in-house buying campaign, starting with our customer base. If you have any quality individual coins or even an entire collection that you are considering selling, please contact The Reeded Edge. Our need to buy is ongoing, and we don’t see that subsiding anytime soon.
Finally, we hope that everybody is safe and healthy. More so than ever, we are looking forward to when we can see you in-person, and extend our gratitude for your patronage throughout this crisis. We are optimistic that day is not too far off!
