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Mid Sept. Issue . 2009,

Hello all! We are back in the office from our second trip in as many months to Los Angeles setting up at coin shows.  If you have read any other show reports, you no doubt have been told that the shows were disappointing or just "ok" as expectations had been tempered.  We found the shows to be a bit disappointing in some respects, but a real success in general.  We met many new collectors and we able to spend quality time discussing goals and coin strategy...very important in these times.  Although the current state (or perception) of our economy is much improved from 6 months ago, the great state of California seems to have suffered more than most areas of the country.  We attended the Long Beach Expo in June so we actually set up in the Los Angeles area 3 times this summer; causing us to lower our expectations as well.

 

Two observations of note:  A couple of clients asked me if our firm was hiring, as they had been out of work and were considering other career avenues.  Another client mentioned that he had no money to spend but wouldn't consider missing a Long Beach Coin Expo...not good news for the coin dealer!  Regardless, we did sell some very nice coins and were able to bring home some beauties that will be imaged and up later this week.

 

We are sorry to report that it is becoming more difficult to find the type of coins we like to place in our client's collection...I know you have heard us complain about this before...but Long Beach had very few fresh, exciting new coins.  It is as if everyone is holding on to special coins, awaiting a shift in the coin market.  Let me just say that we are still getting good prices for great coins and we don't see that changing!  We have acquired some stellar coins from clients this summer and these are not coins that trade at Blue Sheet levels.  Don't forget our Consignment Program. We love to sell coins for you!  For many years we have placed some of the choicest coins in the marketplace and we are thrilled to have them back to sell!  Our finest source of rare coins is our loyal clients.  We did return with quite a few new purchases and we think you will be pleased with the quality, if not quantity.

 

At the Long Beach Expo we were proud to display a few beauties from the Bingham Collection of toned Commemoratives.  The hit of the show was his Columbian in PR68*, generally regarded as the first commem ever minted.  Gregg also displayed his 1933-D Oregon in MS68*, many commem connoisseurs have deemed it the most beautifully toned  Oregon Trail in existence. The coins were quite a draw at the show and we were thrilled to meet some new collectors that had no idea that a commem could be this awe inspiring!  Of course this collection has been a labor of love for many years, one of the keys to maximizing your investment in coins...time in the marketplace.

 

I had the pleasure of having dinner in Long Beach with Larry Shepherd, former owner of Simco, now Executive Director of the ANA.  He has been hard at work for us all there since he took over the position.  He's done a fantastic job by all accounts and is always acquiring input from us dealers and collectors alike (the mark of a great leader in my opinion).  Always on the cutting edge, the ANA is considering new venues for the Spring Show and Summer ANA convention.  Larry confided in us how challenging the job is finding a location that is central for collectors, easy for dealers to fly in and out of, and cost effective for dealers and collectors alike.  Once you take those expectations into account then you must also choose an area that has not been saturated with coin shows!  This is just one service the ANA provides for collectors. The ANA is showing increases in donations, membership, collectors attending the summer seminars, and the number of bourse tables sold for upcoming shows.  In addition, Larry has brought the operating budget into balance...This in the worst recession of our lifetime!   Plans for upcoming shows are in the works to host more seminars for the collector and displays that will rival the coins you find at the Smithsonian!  Larry has extended to our clients a very special offer, if you are not a member of the ANA contact us for a free six month membership. 

 

If you are attending the Whitman Philadelphia show September 24th through the 26th please stop by our Booth 203 and say hello, we look forward to a very active show in a new venue!

 

 

Our Warmest Regards,

The Staff of Albanese Rare Coins


(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

David C. Albanese - President
Albanese Rare Coins Inc.
www.COINACE.com
 
Monthly Insight Archive
09-01-09 "Investing"
08-31-09 "L.A. ANA Show"
06-30-09 "Baltimore Show"
06-01-09 "Long Beach"
05-01-09 "Central States"
04-01-09 "Baltimore Show"
02-28-09 "Long Beach"
01-01-09 "Fun Show"
12-31-08 "Stock Market"
12-15-08 "Baltimore Winter Show"
11-30-08 "Commems"
11-01-08 "Herd Mentality"
09-30-08 "Crazy Market"
09-19-08 "Atlanta"
08-31-08 "Baltimore ANA"
07-31-08 "Mid-America Coin Expo "
06-31-08 "Baltimore Results"
05-31-08 "Baltimore"
04-30-08 "Chicago"
03-31-08 "More CAC Interest"
02-01-08 "CAC"
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