It’s back to business as usual now that the holidays and the FUN show are over. The coin market is relatively stable, but with strength showing at the high end of the market and moderate weakness being experienced at the lower levels. Coins in CAC stickered holders are preferred by buyers at the higher end, but there is still not enough of the right material available with this endorsement. This is the direction the big money is going, and many of these better coins are being sold at auction as shown by the $56 million realized in Florida. The Euro has been falling in comparison to the Dollar, and precious metal prices have strengthened as the credit ratings of France and eight other Eurozone nations were downgraded last week. The European debt crisis continues to be of great concern to the world economy, even while officials have been able to kick the can down the road. However, the huge debt crisis of the US seems to be overlooked by investors, as life goes on as normal and economists focus on the short-term. Another factor affecting precious metals is the Iranian threat to hamper traffic in the Strait of Hormuz, a major oil trade route.
     A plea of guilty was entered by a former ANA collections manager to the theft of about 300 historically significant rare coins and other numismatic objects from the ANA Money Museum which are valued at nearly $1 million. The manager only held the position for three months, from January through March, back in 2007. Subsequently, the coins were sold, both privately and through auctions. This is a concern to both dealers, who’ve handled these coins, and to collectors, who’ve purchased them. Once identified, they will probably be subject to return to the ANA as their rightful owner. The coin doctoring definition was sent back to the committee headed by John Albanese to be refined and to be taken up again by the PNG at the Central States Numismatic Society convention in Schaumburg, IL, which is scheduled for April 19-21, with PNG day being held on April 18. Stack’s Bowers will hold a sale January 24-26 in New York consisting of selections from the Guttag Family and Walking Liberty Tribute collections. Major shows are coming up during each of the next three months. Long Beach is next, February 2-4, Baltimore after that, March 22-25, with the ANA National Money Show being held this year in Denver, May 10-12.
     PCGS is holding a grading contest at the Long Beach show, with the winner receiving a Gem $20 Saint-Gaudens. Kids will have a contest of their own broken into two divisions, pre-high school and high school with the winners being rewarded with an MS65 Morgan Dollar. Ira and Larry Goldberg will hold a pre-Long Beach auction January 29-February 2 at their offices in Los Angeles featuring the Helem Estate of over 950 US Gold coins. A few PCGS highlights approved by CAC from this sale include an 1882 $3 Princess graded AU55; an 1811 Capped Bust to Left $5, Small 5 in AU55; and an MS63 1873 $20 Liberty Open 3.

Reprinted from Issue No. 3   January 20, 2012 of the Coin Dealer Newsletter - the Greysheet
This article is copyrighted, may not be reproduced without permission from CDN publications. ©2012 CDN Inc.