August,
21st 2006
Hello and welcome to the new market insight.
Just looking at what is going on in the world you get
a sense of a very bad market with prices dipping daily.
But that is the case for stocks, not coins!
At the ANA show the auctions from what I've seen, went
very well and strong prices were being paid for nice coins.
We purchased a coin for a record price, the 1861 $20 Type
1 Proof 67 Ultra Cameo for $483,000.00. We bought the
coin for a private collector who is putting together an
amazingly rare museum collection.
The word we've received
from the bourse floor is that most dealers did well and
super rare coins did "very well".
As I am writing
this Gold spot prices have risen over $12.00 to $624.60
which is a good sign of things to come keeping gold coins
such as Double Eagle Libs and Saints on the rise.
Summer time
is almost at an end and actually I am happy, fall is the
best time of year, the leaves changing, the smell of the
air and coin business seems to come back to life after a
small hibernation period like every summer season. Prices
are as steady though as they were before summer time which
is super and this is because material is just so difficult
to come across.
Keep in mind
if there is a particular piece that you just can't come
across, please don't hesitate to give a call. As you can
see by our "Hall
of Fame" we have located and sold some of the rarest
coins in numismatics.
Keep watch
as we will be putting new inventory up over the next couple
weeks from the ANA show.
Very Best
Regards to All,
Albanese Rare Coins, Inc.
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