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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

June 2, 2008

Major Shows Attracting New Collectors

     The Long Beach Expo was better than expected with more dealers and collectors in attendance than anticipated; although, the show did slow down toward the end. Dealers and serious collectors know the best time to do business at most major shows is the first couple of days. Early Type coins and Rare Gold are still commanding much of the attention of collectors. Morgan Dollars, especially Rare Dates and Deep Mirror Prooflikes, have tremendous support in today’s market.

     Dealers are now headed to Baltimore for the Baltimore Coin and Currency Convention, June 5-7. Bowers and Merena Auctions is the official auction of this major East Coast convention. There are more than 3,000 lots offered on June 5-6. Early Type Coins are the main theme of this auction, much like most other recent sales. Baltimore always draws dealers and collectors from many surrounding states and attendance is typically better than many other shows. It should also attract a good part of the mass of new collectors that are joining our numismatic market everyday.

     This week’s Moderns Edition of the Wholesale Market Price Guide shows sporadic advances and declines throughout. Bullion levels are close to where they were three weeks ago so wholesale levels are mostly unchanged. After last week’s slashed bullion prices, this week begins with signs that are more positive. As of 10:25 AM PDT, Gold is up $7 at $893.20 and Platinum is higher at $2011. Silver is down just slightly at $16.84.

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