LONG BEACH PROVIDES OPPORTUNITIES FOR MOST DEALERS

Thursday, October 1, 1998

            This was one of the more interesting Long Beach Shows as witnessed by many of the nation's most active dealers. Despite the fact that this show had attendance that approached 10,000, the dealers felt that the overall market was less intense than they had expected. The previous couple of months had been quite busy for many of these dealers and they anticipated the same for this show. Not that they did not experience a positive week in Long Beach, with all the dealer-to-dealer trading that occurred; or, the various auctions (Superior, Heritage, Ponterio) that took place. There was plenty to do and lots of coins to buy and sell. However, various dealers reported that they had seen most of the available coins during and since ANA. There was some fresh material, but not enough to satisfy the many active dealers who need to fill major want lists. Attendance figures reveal that the public was out in force and the massive bourse room looked rather busy at various intervals. However, many of the collectors are just as "picky" as the dealers when it comes to buying coins for their collections.

            The overall coin market continues very strong with dealers in the market for just about anything that represents good value. What is good value? We have enough contacts to note that coins from nearly every series will bring strong prices if they have eye-appeal. In this sense, eye-appeal does not mean that the coin has to jump up off the bourse table (those kinds of coins bring way over current wholesale levels), they just have to be free of detracting marks or discoloration. Current dealers and collectors are looking for coins that they would like to buy again and again. Of course, this is always the case; however, this current market allows dealers to make a little more profit than usual because they know that if one of their customers will not buy the coin, the next one probably will. There are lots of collectors standing in line for nice material and they have the money to spend. Many of these buyers have made "big bucks" in the stock market and they want to diversify their holdings. They know that this is the time to buy quality coins, mainly because they have done their research and find that many series are selling at 50% or less of their previous 10-year highs.

            The Heritage Sale of the Andre Dawson Collection was quite successful with total prices realized of over $6 million. In addition, there was a very fine selection of U.S. Gold coins from the estate of Ed Trompeter. It is sales like this that serves to supply the numismatic marketplace with fresh rarities and fuel the hopes that there will always be the potential for locating that special coin for a famous collection. The following coins were but a few of the many highlights.

DENOMINATION	GRADE	PRICE REALIZED
1793 Half Cent	NGC64 Bn	$37,950
1794 Half Cent	NGC63 Bn	$13,800
1793 Wreath Cent V&B	NGC AU50	$8,625
1858 Indian Cent LL	NGC PR66	$18,975
1864 L Indian Cent	PCGS64 Red	$1,840
1873 Indian Cent Dbl. Lib	PCGS63 RB	$2,415
1955/55 Lincoln Cent	PCGS64 Red	$6,037
1851 O Three Cent Silver	NGC67	$6,900
1912 D Liberty Nickel	NGC67	$4,140
1795 Half Dime	PCGS64	$12,075
1805 Half Dime Large 8	NGC65	$33,350
1807 Bust Dime	NGC65	$15,525
1874 Arrows Dime	NGC68	$19,550
1876 Twenty Cent	NGC PR67	$24,150
1807 Draped Bust Quarter	NGC65	$29,900
1834 Bust Quarter	NGC PR67	$58,650
1926 D S.L. Quarter	PCGS66 FH	$27,025
1800 Bust Half	NGC64	$36,800
1878 CC Liberty Seated Half	PCGS65	$31,050
1857 Liberty Seated Dollar	NGC PR66	$25,300
1863 Liberty Seated Dollar	NGC67	$50,600
1895 O Morgan Dollar	NGC62	$15,812
1849 No L $1 Gold	NGC68	$31,050
1839 O $2 1/2 Gold	NGC64	$19,550
1879 FH Stella	NGC PR66	$89,125
1879 Coiled Hair Stella	NGC PR63	$161,000
1880 FH Stella	PCGS PR64	$103,500
1909 $5 Indian Gold	NGC PR66	$55,200
1911 $10 Indian Gold	NGC PR64	$31,050
1854 S $20 Liberty Gold	NGC65	$29,900
1890 $20 Liberty Gold	PCGS PR65	$58,650
1910 $20 St Gaudens Gold	NGC PR65	$59,800
1912 $20 St Gaudens Gold	NGC PR67	$86,250
1921 $20 St Gaudens Gold	NGC62	$42,550