Bluesheet: LOTS OF ACTIVITY FOR A QUIET SUMMER
The Summer months are typically quiet in the rare coin business, and while this season has been fairly representative of years past, we are still finding plenty to report on in these pages. Market activity this week sees updates in most series, reflecting price movement from weekly online-only auctions and dealer bids. These weekly online-only auctions provide a fair amount of activity for the rare coin market, and they are prime areas where buyers can use the Bluesheet-Greysheet spread to their advantage and make informed and astute purchases.
With regards to dealer bids on marketplaces like CDN Exchange and CCE, it should be noted that many series have strong underlying support in the form of sight-unseen bids, and the number of coins with bids seems to be increasing. Heading into the ANA World’s Fair of Money next week, dealers have been reporting a noticeable improvement in the overall market for certified coins. As business and cash flow improves, we expect to see more of this exchange bidding as dealers fill want list and shore up inventory.
PEACE DOLLARS REQUIRE ADDED EXPERTISE
Peace dollars, for example, show a lot of activity this week, and this tricky series is a prime example of the need to have maximum information when buying the better dates and conditional rarities. In general Peace dollars are difficult to grade at gem levels, and fully struck examples can sell for very strong premiums.
Peace dollars which are unattractively toned and/or weakly struck bring substantially less. Greysheet values typically represent CAC, or otherwise premium examples, so it is extremely important to take note of Bluesheet values when buying or selling within this series. In some cases, it would be more prudent to buy a premium quality MS64 coin as opposed to an average MS65 coin, especially when the pricing spread between grades is large. A wise collector would slightly overpay for an MS64 rather than get a “deal” on an MS65. It is certainly a positive for the series that common Gems are now bid at $110 sight-unseen, as dealers and collectors own these in quantity.
On the other hand, if you can find a aesthetically pleasing high grade example priced closer to Bluesheet, you can take advantage of big pricing spreads and (hopefully) make a nice profit in the spread.