June Market Update 6/16/2010

on 16 June 2010. Posted in News

We have received many calls and e-mails wondering why we are not adding more coins to our inventory.  Simple answer…not enough fresh original material.  When you love the hobby and grow up in the business, it is frustrating to see coins subject to dipping to get good grades. 

We lived through grade-flation and stuck to our guns about buying the coin and not the holder.  It was hard because most buyers came back with “it’s certified or in a holder, shouldn’t they all be the same?”  Thankfully, CAC and Secure Plus have finally given us vindication.  Our attitude is that we are here only for a short time in our lives so we should act as stewards for the betterment of future generations of coin collectors.  That is why we are happy to be unyielding in our search for balanced fresh original material.  I’m sorry our inventory is so lean but it is a reflection of the lack of true untampered with nice coins in the market.  Rest assured, our search for quality will go on.

CAC and Secure Plus have really brought about a mind change in the industry.  Not all coins of a specific grade are the same in character or price.  For that, I am grateful to them.  However, that does not mean that all CAC or Secure Plus coins pass the RCNH muster.  So far, the consistency of CAC is in my opinion better than Secure Plus.  Some of the material that larger submitters have in a Plus holder boggles my mind.  I hope larger submitters are not getting a percentage of their submission automatically given a plus sign.  I doubt it but as I’ve seen, CAC to me early on is much more consistent.  Then again, CAC at first had a hard time establishing a line particularly on altered gold.  So maybe Secure Plus is finding its way.

Long Beach was a huge disappointment.  A terrible waste of time trying to find coins of good value and grade.  Too much retread material and the handful of true coins for grade were being offered at multiple bid levels.  So our new Long Beach purchases were zero.  We hope to have better luck in Baltimore.

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