The quandary of a volatile marketplace. Coin values are tied to supply and demand, condition of the coins, the stock
market and the metals market and can vary with minor or major changes in any of those characteristics.
This weekend, the stock market news was a shock and caused one of recent years' biggest drops in the overall market
by Monday's closing bell. One of the largest traders, Lehman Brothers, filed bankruptcy. Another, Merrill Lynch, is being
bought by Bank of America. And, AIG, one of the largest companies in the world is restructuring. This is after Fannie
Mae and Freddie Mac were taken over by the government because of all their investment and lending problems.
In an odd way, this reminds me of the old comedy routine of "Who's on first" and "What's on second." Or maybe the
child's game of musical chairs is more appropriate. Which financial institutions are going to still be playing when the
music (poor money management and lax lending practices) stops?
Back to coins... The coin and metals markets are certainly impacted by what happens in the stock markets around the
world. Of course, the stock markets around the world are impacted by what happens in New York. And what happens in
New York is impacted by what's happening with the financial companies on Wall Street.
Interestingly, the coin and metals prices do not seem to be quite following the same patterns as from past stock market
fluctuations. But, no worries. That just means you need to do more due diligence and more research to make sure you
are up to date on today's market and trends. If you are a collector upgrading or filling in your collection, you will still want
to research to make sure you focus on the best areas of your coin interests within the current market.
Take a look at historical behavior patterns of stock markets and coin values, then take a look at today's market and visit
us at our next show in October to do more hands-on research with people who work with the changing coin market every
day. See you there!
There were deals left and right with coins, currency and metals.
Dealers were dealing with each other and working with guests.
As you can imagine, coin shows enable dealers to both buy and sell.
At the end of the day, some dealers commented that they sold more
than they bought.
Depending on the market that can be good or that can be bad. Plus,
good or bad depends on your own viewpoint.
In general, you can't sell what you don't buy; but you don't want to sell
at a loss either.
Well, Hurricane Ike's wind and rain missed us. The morning started off overcast - maybe
some outlying bands of the hurricane - and the afternoon was sunny and warm with temps
in the 80s.
Though warm, the humidity was not overwhelming, and if you've noticed, the sunlight is
noticeably changing. The light is not as bright, and the angle is different. Fall is just around
Ike may have passed us by, but the increased gas prices did not. Did you note when they
increased? The price per gallon started going up significantly before Hurricane Ike hit
landfall in Texas and before any refinery or supply damage (or lack thereof) was known.
Our dealers and public are great, though. They all thumbed their noses at the gas prices
and came to the show anyway.
Thank you all! We had lots of dealers, lots of guests and lots of deals. The dealers arrived
early - they always do. The guests waited awhile. Attendance was slow in the morning, but
people started crowding in around 11:00.