Bluesheet Market Update

Feds Signal Imminent Interest Rate Hike
The final weeks of the year promise to be turbulent for world financial markets, as all eyes will be on the FOMC meeting which takes place on Wednesday the 16th. A widely expected – albeit very small – interest rate increase will impact volatility across asset classes, including foreign exchange and commodities, both of which impact the numismatic marketplace and gold spot prices in particular.

We find ourselves at the beginning of a long-term sustained pattern of rate hikes and it will be interesting to see how the coin market reacts. For years we assumed the low interest rates were positive for rare coins – hard assets being non-performing assets, at least from the perspective of interest. But this honeymoon ended long ago. What will happen to the coin market as rates increase is anyone’s guess, but we will stay on top of it and keep you informed.

Graded GSA Values Added Back this Week
The primary update in this week’s issue is the pricing of certified GSA silver dollars. We have redesigned page 5 to report both GSA- and proof-like Morgans, which flow naturally after our listing of mint state and DMPL dollars on page 4. We have retained the pricing of “raw” GSA’s and added grades MS63–MS66 for certified coins. Note that these initial price listings do not distinguish between NGC and PCGS graded GSA dollars as we are not convinced there is a market distinction.

Classic Commems Priced in Detail
This issue is also the first-ever Bluesheet to indicate values for all 144 classic silver commemoratives. Use these values in conjunction with the Greysheet to determine the proper spread for these coins. Some of the low-mintage dates represent the best values in the American numismatic catalog, and investors would be wise to study this area carefully.

FUN SHOW on the horizon
As always, the FUN show the first week of January will be a barometer of the overall rare coin market, and we look forward to observing and investigating the activity at the convention. CDN will be present at the show to engage in conversation about the current market and to gather feedback as we begin the new year. The plethora of bourse and auction activity is sure to create price movement across the spectrum of U.S. coinage and we will be ready to report it. We hope to see you there!

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