Now on the metals acquisition side, another guest of the show wanted to buy 100 gold Krugerrands. Similarly, a dealer sold 400 ounces of silver along with rare coins.
Some people asked, "Should we buy or sell in this market?" The answer, of course, is individual to each person's situation. In general, however, some people sell because they bought coins and metals at lower prices and can realize profit from their investment. Others buy coins and metals as an investment going forward and as a hedge against inflation. Either choice can be the right one based on personal situations.
Along those same lines, we took an informal poll among the dealers and found they are selling more than they are buying in their shops and at the shows they attend. Since they have to buy to be able to sell, more demand than supply can cause an increase in prices and in value.
On a different note, dealers and guests talked about the increase in the price of gas and its impact on our economy as a nation and on our budgets as individuals. With day to day driving for necessity along with the upcoming vacation driving season, we all want the price of gas to decrease. With the turmoil in the mideast and the difficulty getting approval to drill domestically, these high gas prices may be here for awhile.
But, we can take a moment to be thankful as well that our gas prices are still much lower than across the sea. Europeans have been paying much higher gas prices for quite some time. Even at $4 a gallon, our prices are still much lower than theirs.
Back to the coin show, thank you to those who attended, and for those who couldn't, we missed you. We hope to see all of you at the next show on Sunday, April 10, 2011. The show is currently scheduled to be down one level in the Lyon and Sanford rooms.
Some people brought silver to sell. One gentleman visited the show to find a dealer to whom he could sell $100,000 in silver. His collection could consist of silver bars, rounds or old coins that are more valuable as silver than as numismatic collectibles. With silver prices ranging between 20 and 25 times face, $100,000 in silver could be $4000 to $5000 in silver coinage.
But, here's a caution, the top prices for silver are only available from the large wholesalers whose business is in the metals. They offer those prices for the metal in bulk quantities. Plus, the seller has to pay for shipping the metal, then has to wait several weeks for the payment to arrive. The dealers at the show offer fair prices based on current values on the metals market less the cost of their time, effort and expenses which include the shipping and waiting on payment.
"Spring fever," that's what it's called, and we all caught it during the show. The gorgeous sunny day with bright blue skies and temperatures in the mid to upper 70s offered us a glimpse into the upcoming spring days.
First, here's a thank you to the dealers who filled the bourse and to the many people -old timers and newcomers, alike - who visited the show and kept the bourse busy. Some comments from the dealers included, "incredible show," "fantastic show" and "amazing show." We appreciate all of you who contributed to the show's success.
On the morning after the change to Daylight Savings Time at 2:00 am, several dealers and guests commented that they weren't aware of the time change. On the other hand, one gentleman, who didn't realize his clock had already been changed, moved the time forward again for a two hour advance instead of just one. Needless to say, he was an early bird to the show.
With the volatility of the economy and the metals' market, people continue to buy and sell gold and silver. Both dealers and guests looked for rolls of American Silver Eagles, but being in high demand, they were difficult to find. One dealer told a story of a customer who wanted to fill a safe with American Eagle rolls.
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Greater Atlanta Coin Show
2020, our 33rd year of monthly coin shows
Coin Show - Monthly Notes from March 2011