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Monday, February 13th, 2006

Welcome to the new market talk for the week of February 13, 2006.

Gold sales for the week stayed above $50,000 with some very nice pieces including the very tough 1924-D $20 Saint in MS64 PCGS and a very rare 1911-S Saint in MS66 a coin which has a rarity rating of R5. One coin that I truly loved for the original toned beauty in which we sold also was an unique 1910 Barber Quarter in PF68, a coin that backs my belief in which original toned proofs will become more scarce and valuable due to demand and the fact that too many were dipped out for the black and white look.

Black and white silver proofs are amazing and very beautiful coins when they are not “over-dipped”, meaning they do not have a washed out hazy look in the fields. Every silver coin eventually turns, or tones; dipping coins out means they are taking off the corrosion and trying to bring back the coin to its original surfaces, this is not a bad thing if the numismatist is very carefully skilled because I’ve seen too many “black & white” coins ruined and that is terrible to think all that history is desecrated because someone thought they could take off a carbon spot or strip the toning down to get a “cameo” look for a profit.

It is very visible that a lot of money has been pouring into the industry watching prices going up and up and up. What is happening here are smart investors are seeing the coin market a new playground to diversify their portfolios. When this happens it seems one particular area inflates big time while other another series starts to lack the interest in demand until someone starts seeing those coins as good buys knowing sooner or later those lower prices will become huge profits eventually because it’s like the circle of life, it all comes back around. For instance it’s been a while sense Commemoratives where super hot, I have a feeling those will be coming back with bullish prices in the next year, but not just any Commemorative, I think the higher graded PQ coins will be the ones to set the standard.

Another is Proof Indian head pennies, I think the interest in those are starting to heat up again because there really are so few of truly red, cameo, frosty smooth mirrored specimens out there that they could be gobbled up in turn the values will surely rise to new highs. More people are becoming educated on how to expand their portfolios by diversifying into other areas they never thought of, and the coin hobby has grown so much over the past 5-10 years with the help of the internet and record setting prices for coins being sold told over the news and in new-papers that the word is spreading and catching the eyes and ears of very wealthy people. This is a good thing because I always say the crowds I also like to reach out to are the people buying rare original paintings, antiques and historic specimens. Of course when it comes to those people we show them the direction of Proof Gold because of the scarcity and above all the beauty.

We are going to be trying to find more coins such as Large Cents, Proof Cents, Commemoratives, and beautifully toned beauties for our clients because those are some areas I think will benefit them from both collector and investor point of view. Keep watching all week for new images of coins, and happy hunting!

Cheers,
Dean Albanese
dean@coinace.com