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
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