It’s hot out there!
Yes, I know I’m late. But business has been so good that it has kept me very busy. I channel what I am seeing about the market into this article.
And I am not talking only about the weather.
The collectors’ market is hot.
Buyers are buying all types of collectibles. Items that have not been selling well in the last 10 years are now selling for more than a few dollars. And there is no sign that it will stop soon.
If the collectible market is hot, then the numismatic market is like the weather in Pacific Northwest and Western Canada. The numismatic market appeared to hit a high on June 8, 2021, and it has not stopped. It seems that every few weeks, the numismatic press tells us about another rarity that sold for over $1 million.
Prices are also rising in the regular collectors’ market. Silver coins are selling for significant premiums over what the price guides publish. The premiums have become so big that the price guides are almost irrelevant.
The sensation extends to the entire numismatic market. People buying common coins of popular series are paying significant premiums for the coins like Lincoln Wheat Cents and Buffalo Nickels. Some are complaining that the market is becoming too expensive for the average collector.
It is a mixed feeling for sellers. While their profits are increasing and they can unload items sitting in their shops for years, they cannot find the inventory to sell. Dealers that know I work in the liquidation business have called to ask whether I can find coins. Of course, economists will remind me that when there is a high demand and low supply, the prices rise so that the Supply and Demand curves reach equilibrium. Then they will ask snarkily where I went to school!
As a seller, I love this market. It will help my company’s recovery from the pandemic. As a collector, I think I will concentrate on the less expensive series of interests. Although there’s a National Banknote worth about $1,500 that I have been looking at… (as he stares wistfully off into the distance).
And now the news…
June 23, 2021
TEHRAN – Iranian police forces have arrested a person suspected of smuggling ancient artifacts and recovered seven ancient coins. The lawbreaker was traced and finally arrested at his place in the city of Kashan after the authorities received reports from cultural heritage aficionados, Kashan tourism chief Mehran Sarmadian said, IRIB reported.
→ Read more at tehrantimes.com
June 24, 2021
One of the most popular hobbies of children is collecting rare items such as coins, stamps, banknotes, and autographs. For some, coin collection may seem a boring and pointless activity, but for many, it is fascinating.
→ Read more at theworldbeast.com
June 24, 2021
Canadian Muslims are getting used to Canada Post regularly issuing commemorative stamps for Eid. However, as yet, there has not been commemorative coins that reflect the presence of Muslims in Canada, despite commemorative coins being issued annually for other religious and cultural holidays of other diverse communities.
→ Read more at muslimlink.ca
June 24, 2021
• The coronavirus pandemic has disrupted the availability of quarters, nickels, dimes, and pennies. • Unlike supply issues that have affected computer chips and lumber, there's no actual shortage of coins.
→ Read more at businessinsider.com
June 26, 2021
Two rare coins which date from around the time of the Black Death have been declared treasure. An inquest was held at Norfolk Coroner's Court on Wednesday, July 23 into the 2019 discovery of a leopard coin and a noble coin in the Reepham area.
→ Read more at northnorfolknews.co.uk
June 26, 2021
A collection of antique coins which date back almost 600 years has been donated to a County Armagh library due to their unusual link to the area.
→ Read more at bbc.com
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Related Past Posts
I worked in retailing for Walmart for years before I retired. Running out of merchandise happens. Let me tell a story.
I worked in a store during the Halloween season. It was only the second Halloween the store was open. On Halloween, we ran out of the bar type candy people look for on Halloween.
The store’s candy sales were up 74% over the previous Halloween, the store’s first Halloween and we could have gone higher. But, we ran out of merchandise to sell. Management level people, including the store manager ‘ s boss said the same thing, that happens.
Scott, I don’t know what else to say to sellers except what I was told all those years ago. It happens.