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Foreign Coins
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To Order Call
1-832-754-7960
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February issue . 2009,
We certainly enjoyed a different kind of Long Beach Show this February. We went to the show with some trepidation, not fully knowing what to expect. We were pleasantly surprised at the attendance of the show throughout the week, much better than the last few shows there. The convention center was packed; clients were very enthusiastic and looking to buy. We were able to visit with many of our cherished clients and West Coast friends. We shared coin stories and economic and political tidbits as well. The state of California hasn't been too kind to our friends there, they report taxes and spending are out of control. A general attitude about the state's economy was depressing, but these collectors were at the show to purchase rare coins, a welcome distraction from gloomy forecasts.
On the floor we noticed a shortage of proof gold (always a good buy in our opinion) better date gold, especially the Saint Gaudens series and spectacular proof type. There was a time several years back when not only Albanese Rare Coins, but numerous other dealers, would have an entire showcase full of proof gold coins. In today's market you are lucky to find a handful of these beauties. Remember the days of showcases full of glorious ultra cameo coins? You are hard pressed to find one or two on the entire bourse floor that meet our criteria. So naturally we are paying premiums for these coins.
Many areas of the market are soft, we particularly note: twentieth century proof type, Buffalo Nickels, Liberty Nickels, and Walkers. Economics 101 will tell you it's a great time to buy!
Several clients wanted to purchase coins from us, but were compelled to sell their own coins first. They found this was not an easy task. Many gray/blue sheet levels are down now, an indication of softness in the marketplace. Those levels represent coins that are average for the grade, just a base value for type, but that market is almost non-existent at present. Of course, this isn't the type of coins we sell or that most of our clients are searching for, but it does hurt the business as a whole. One way that you can protect the investment you have made in your collection is buying nice, eye-appealing coins. The cream of the crop type material you find at ARC. Those coins create their own demand, may cost you more on the outset, but history has shown that they hold their own in any marketplace. Beautiful coins are easy sells...it's that simple. Layaway plans have always been available here, they still are. We will get creative to make the deal work for you. Give us a call; we strive to be the best in the business when it comes to caring for our clients.
(Upcoming Shows Link) If there are any last minute “wants” please let us know. Also if there are any coins in the Stacks auction let us know and we will view and bid for you on only 5% commission. Keep an eye for the “market insight” after the show for an in depth write up on how the market is doing and where it’s going.
Our very best to you, Dave Albanese coinace@aol.com
Dean Albanese Dean@coinace.com
Bonnie Sabel Bonnie@coinace.com
Monthly Insight Archive
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