March 2014 Sampler Available
Our March 2014 Sampler (#283) is now available and
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2014 Presidential Dollars
Warren G. Harding 2014 Presidential dollars are now available. Single coins are $1.95 and rolls (25) $39.95. Presidential Dollars can be reached by clicking "US COINS" and then "PRESIDENTIAL DOLLARS."
2014 National Parks Quarters
Great Smoky Mountains Nat'l Park (Tennessee), the first of the 2014 P&D National Parks Quarters is now available. National Parks Quarters can be found by clicking on "US COINS" followed by clicking on "NATIONAL PARKS QUARTERS".
April Coin Market Commentary
We are two thirds of the way through a marathon of Coin
Shows consisting of 5 straight weekly shows. First was
Collectorama in Lakeland Florida, followed by The Sarasota
club show also in Florida, then the just completed ANA event
in Atlanta and today we set-up for the Tennessee State show
in Chattanooga. Next week will be the Bay State show in
Marlborough MA. The pattern we have seen is one of a healthy
market with an equal number of dealers and collectors
attending the first two Florida shows where bargains were
sought but seldom found in anything good. There were several
with serious want-lists and they were willing and able to
acquire available items. Others with bigger wish-lists were
price conscious and often unable to close a deal, many came
back after other disappointments.
The ANA event was different, there was buzz first day but
sales were spotty and mostly wholesale. Day two Friday was a
more normal level of business both buying and selling but
still not brisk. Saturday which over the last several years
tends to start at 11AM or so and end by 1:30. Shows (most)
without a Sunday venue wind down as out of town dealers rush
to make flights home so they can have Sunday for various
obvious reasons at home. This Saturday was different! Early
in the week there was the announcement of several old tin
cans of a US Gold Coin hoard uncovered in Northern
California and publicity kept building to a crescendo as the
show progressed, especially since there were several of the
best pieces on display at the show and the news media just
kept the exposure building. So Saturday’s business started
at 10:05 (10AM opening) and continued non-stop until nearly
5PM (show closing 4PM). The interesting and best observation
is that contrary to what one would think business was not
all about Gold coins. While the publicity attracted
curiosity seekers buying an interesting gift, there were
people filling in presidential dollars, there were serious
type coin buyers, there were Morgan and Peace dollars
collectors and yes there were gold coin buyers followed by
silver and gold bullion buyers.
While I would disagree with the flag waving and promotion if
I were representing such a client, it certainly is a benefit
to the hobby to have such national publicity. My reasoning
here is that no one knows what the true origin of the hoard
is and it would be very easy for someone or some entity to
step forward and make claims either real or false and tie
these folks up in court for years. There has already been a
great deal of conjecture about a San Francisco mint employee
that was arrested and convicted for stealing about $30,000
from the mint around 1900. The claim has been made that
there were coins early coins from Eastern mints that would
not be there. Well, remember that many of the prospectors
most likely came from the eastern gold rush as it petered
out and there was new opportunity in California. So why
wouldn’t an astute mint director who wished to assemble a
cabinet of coins for posterity add those items to his mostly
“S” mint hoard. On the other hand, they could have come from
a bandit, a miser or a serious collector or even a wealthy
hermit, who knows. But silence is golden!
Weekly Coin Market Commentary
We are again seeing weakness in the precious metals sector
this week, even with Russian troops moving into Eastern
Ukraine! It seems Putin is willing to talk about it in Geneva.
So the world looks on as he positions troops and says Ho Hum
because he will talk. Yikes doesn’t anybody study history
anymore. So gold is off almost 2%, silver 3% and platinum 1%.
The ratios are over 66 to 1 silver versus gold and 1.1 to one
platinum to gold. We are seeing very good physical demand for
silver but the electronic trading does not agree!
The silver dollar market remains strong with the 1893-S in
MS63 up 10%. The trio of 1878, 1885 and 1890 Carson City
issues are also up in MS63. There is at least one active buyer
searching for DMPL 1904-S dollars as well. 1934 and 1934-D
Peace dollars are up about 10% in EF40 and AU50. In later date
issues the 1995-W proof Silver Eagle is up now at $4450 with
several strong buyers at current wholesale levels.
Proof sets and mint sets remain reasonably strong with no
apparent effect of lower silver prices on those sets usually
affected by the metals decline. The 1970-S SD proof set has
gained over $10 recently and the 2012-S set is strongly over
$200. Often at this time of year (tax time) you will see
dealer’s liquidation of mint product both for cash flow and
the approach of summer. So far that is not the case. The
reason dealers liquidate mint product is that it is considered
easily replaceable should the need arise, and it generally
comes in when general collections are liquidated.
read more of Harry's commentary click here to visit
Family owned & operated since 1967
Full service dealership in Coins, Stamps, Currency, Precious Metals and Supplies
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200 E. Broadway Ave.
Maryville, TN 37804-5755
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