By Laura Sperber - Legend Numismatic Market Report

We expect the market to slowly start to regain the strength we saw in June. The climax should be during the ANA show (or possibly the week after). The demand for better properly graded “fresh” coins is very strong even now during the summer. Today, our problem is NOT in selling anything cool we get, its finding the cool coins. In the general market, we still see too many dealers saddled with dreck. Most likely that will keep the market where it is for a quite a while until this stuff some how goes away.

There are 2 small but important shows in Las Vegas immediately after the ANA Show in August that could make things very interesting. One is run by the PNG and the other by PCGS. Typically, this time period after the ANA collectors step back to absorb their purchases and things are quiet.

Our concerns for the post ANA time period are not just with these shows, but with the material we see in the PRE and ANA auctions. Retreads, boring coins, and dreck are the highlights this year. There are no world class major multi million dollar collections that make your eye balls pop out. In fact, we did not see many impressive high grade rarities at all offered in any of the sales (we didn’t see any MS67 Bust Halves, MS 65 Seated Dollars, no classic rarities, no earth shattering GEM gold that wren’t retreads, etc).  These sales could actually soften the market a little since this stuff has to go somewhere. And if dealers are counting on coins selling to raise cash in these auctions, they could be in for a very big surprise.

Almost immediately following these sales/shows is Long Beach (usually the weakest of the three held). This year, there are some world class early Copper Sales that collectors have been waiting years for. Those will go insane, however, we do think that unless gold is still rising, the rest of the market will quiet down for September.

If the coin market has survived so far, we feel very strongly that it will NOT crash or do anything worse than a slow small wave like motion for the rest of the year. We stand by our comments that the low point of the coin market was at the CSNS show back in May. We have made too many sales, see where demand is coming from, and can’t replace what we sell.

Read The Full Market Report Here

Related posts:

1. Legend Market Report: The 2009 Los Angeles ANA Coin Show
2. Legend Numismatics Mid October Rare Coin Market Report
3. As the 2009 Coin Market Comes to a Close, Where Are We and Where Are We Headed?
4. The 2008 Rare Date Gold Market Report
5. What’s Hot/What’s Not: The Coin Market As of May 2009
6. THE 2009 SUMMER LONG BEACH SHOW – Legend Market Report
7. Legend Market Report – THE CSNS SHOW 2009
8. Rare Coin Markets in August 2009, Part 2
9. The Size and Scope of Today’s Rare Coin Market
10. Rare Coin Markets in August 2009, Part 1