Market Alert 5-5-20
Some good news in the face of the tough situation that our country is facing, CAC and PCGS are both open again! They are hustling to catch up on the invoices they had in their offices before the shut down and are also accepting new invoices for processing. Hopefully, we’ll see new fresh coins entering the marketplace. NGC has remained open and now all three services will be working hard to get submissions processed and out the door. So far, they are doing a great job!
I never thought I would miss coin shows! It’s very difficult to get fresh inventory without going to a coin show. Don’t let anyone tell you that you can judge a coin from a scan! Simply put, you cannot. Sure, you can assess if a coin is attractive, but you need to have a coin in hand to look for hidden marks, hairlines, enhanced color, covering of abrasions, etc. Be thankful that coins are certified, but there is an art to recognizing truly wholesome original coins.
I received a call from a long-time customer and friend yesterday. He said the lockdown has given him time to go over every coin in his collection with a fine-tooth comb. This customer is a player too! He does all of the major auctions, attends major shows and trades with dealers on a regular basis. His strength is in key date coins of all series. To receive a call from him on a Sunday was a surprise. He said he wanted to let me know that from an overall perspective of originality, eye-appeal, lack of scratches and hidden problems, the coins he bought from RCNH were by far his best. I was thankful and said to him that’s why our CAC results were so strong. Coming from a customer that I really consider a good friend, I was thankful. It makes me realize that all of the hard work to find the best, is not done for nothing. Please remember always buy the coin and not the holder or sticker. If you need an appraisal, we will do it free of charge. An appraisal will help you hone your eye for grading and give you the ability to get the best bang for your buck with your collection.
Nice coins are very strong now. It’s almost like an awakening in the market. As we see the COVID Virus become more contained, I expect to see gold and silver prices and premiums drop in the short term. I suspect that as more people examine their collections, we’ll see many marginal and low-end coins sold to upgrade collections with better coins. Don’t get stuck with the off quality that is readily available in the coin market. Use this time wisely to upgrade your collection. I would however not be concerned about my large size gold coins. Marginal $10 and $20 gold pieces are going to benefit nicely from the crazy inflationary pressure in the future.
Thanks and be safe,