Bluesheet Market Update
Dealer Feedback from the Baltimore Expo
Multiple reports from dealers who attended the Baltimore show last week were positive. While some dealers complained of a general malaise in the market which carried into the show, many dealers we spoke to had better than expected wholesale and retail sales. Attendance overall was solid for a fall Baltimore Expo. Dealers we spoke with also expressed their hope that the momentum from Baltimore carries through the end of the calendar year and into the F.U.N. show in January.
One highlight to be found on the show floor was the offering of the Warren Miller Collection of early dollars, which was offered by dealers W. David Perkins and Andy Lustig. This collection consists of over 160 coins, including a number of rare die marriages. Many of the pieces boast significant pedigrees of famous collectors of the past. Lustig reported that he and Perkins sold over $2 million worth of the Bust dollars at the show, which gives credence to the theory that great collector coins remain in high demand.
As mentioned in previous reports, Stack’s Bowers conducted an extensive auction at the expo, the results of which we will cover in depth next week. Both major auction firms, Stacks Bowers and Heritage had eye-catching displays on the bourse floor. Stack’s Bowers had coins from the Pogue Collection, Part III Sale, including Capped Bust halves and early half eagles, which were a delight to view. Heritage showed off the beautiful Dr. Peter Shireman collection of Barber halves, amongst others.
Precious metals have gotten battered over the past week and a half. Silver has fallen for the past nine trading days and gold eight of the last nine. Silver is below $14.50 and the yellow metal sits well below the $1,100 mark. Meanwhile, the US dollar has been on a tear, with the DXY dollar index near its 52-week high. The Euro/Dollar currency pair touched $1.07, a level not seen for over six months, as the dollar continues its attempt to move towards parity with the Euro.