Fall Collector Season Sets In
As autumn sets in around the country, dealers and collectors now look towards the holiday season for anticipated robust buying and selling. Gold spot has not been very cooperative, with the yellow metal losing nearly $25 over the past five trading days as of this writing. This doesn’t come as much of a surprise, as asset markets have been quite fickle and volatile the past couple of quarters. The reasons have been the same for some time: record low interest rates have investors chasing yield wherever they can find it, even forcing conservative individuals and institutions to take on much more risk than they would normally be comfortable with. Naturally one of the alternatives to this are tangible assets in the form of collectibles.
Seek the Advice of a Professional
While rare coins, art, collector cars, etc. carry a different kind of risk, much of it can be mitigated through the use of an expert consultant or agent. In the rare coin business, this is one of the many hats a dealer wears; that is, to educate and recommend the wisest purchases for their customers. It is true that most dealers reading the Greysheet do not have clients with six-figure budgets, but assisting collectors of all means as to why they should or should not buy a particular coin helps the entire industry and puts the hobby in a good light. Often, advanced or very experienced collectors feel they do not have a need for assistance from dealers. Rather, they view dealers as a rival, in competition with them to get the lowest price at auction.
Yes, it is highly encouraged for all who are involved in the hobby to learn, research, and study the series they are interested or deal in, but reality is that the collector or investor is much better off working with dealers as opposed to against dealers. As the prices for top quality, original coins continue to rise and as new investor money enters the numismatic marketplace, it is important that the experience of both buying and selling is a positive one.
Pricing Review Continues in Morgans
We continue our analysis of the Morgan dollar series, this week covering the years 1888 to 1895. We also have noted some activity in circulated and mint state type coins with early silver dollars. Proof type is another area which will be reviewed in upcoming weeks, as there has been a large number of coins sold in auction in recent months. We will also be looking at proof and mint sets, so please contact us at email@example.com with any information you’d like us to review.