Earlier this year, the show saw quite a few sellers of gold and silver or of collections. Now, the coin dealers report that the August show had many more buyers than sellers of bullion and collectibles.
The August show also saw more families bringing their children. That's wonderful; they are certainly welcome. Numismatics is a great hobby to begin as a child. In addition to the thrill of hunting and finding the treasures, coin collecting teaches history, economics, finance, responsibility, and a whole host of other lessons. And, the good news is, they learn those lessons in the excitement of the hunt without realizing they are "learning."
As for the overall markets, in talking with several dealers who have shops, some commented that their shop is so busy, they have to make people wait outside. They let the line outside the door advance when someone left their shop. Dealers in the business over 30 years also observed their business is almost as busy as the early 1980s when the economy was bad and the Hunt Brothers ran the silver prices up.
In other words, the show was very busy. When the economy is tight and the metals volatile, coin shows are very busy.
We hope to see you at the next monthly coin show on Sunday, September 11, 2011 in the Joe Mack Wilson ballroom located on the main conference floor.
In some cases, people bought bags of silver for their bullion purchase. "A bag" is generally known as $1000 in face value of 90% silver coins, or just over 723 troy ounces of silver. A bag of silver is sold based on current silver price per ounce. This is somewhat problematic for coin dealers at the show as the metals markets are not open on Sunday.
Many people prefer their bagged coins to be all of the same type - dollars, halves, quarters or dimes. Some, though, don't want any dimes as it's easier to hide more "slicks" in a bag of small, numerous coins. But, a good mix of coins, provided the weight is right and the coins are 90% silver, should be just as valuable on the silver market.
August in Atlanta, the show day was hot, but it was not as hot as it could've been and not as hot as other parts of the country. The day was sunny with temperatures in the low 90s.
As many people populated the bourse, it was a great day to visit a coin show. Most of our dealers arrived early and busily set up their showcases and coins before the doors opened to the public. Of course, they spend the time doing business with each other.
Normally, August is slow month for coin dealers, and several schedule vacation time. Their absence from the show provides an opportunity to invite other dealers to set up. But with the metals as volatile as they have been, our regular coin dealers have been much busier than usual and not taking any time off. As a result, our regular dealers filled the bourse, and guests interested in coins and bullion filled the aisles.
Once again, though, people focused more on bullion rather than collectible coins. Of course, bullion - silver or gold - can be a beautiful collectible, too, if in an eagle, a maple leaf, a Krugerrand, a panda, or some other form.
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Coin Show - Monthly Notes from August 2011