Courtesy of a somewhat unexpected pre-summer heat wave, all the numismatic faithful were greeted literally with a very warm reception at last week’s Baltimore Expo. Although the heat was on, as almost always, the main problem on the bourse was buying the proverbial fresh material that everyone is clamoring for. Bowers & Merena’s feature auction supplied some much needed relief in this regard as $6.3million was hammered home giving those enthusiastic buyers a new supply of certified treasures. Now as both dealers and collectors attempt to get their houses in order, the grueling show and auction circuit leaves very little time to actually strategize for the next event on the numismatic agenda. Those already on the east coast will have two superb auctions to contemplate as Stack’s in NY on June 25 will feature both the Bergstrom and Husky collections (of which we have listed several of the many highlights). For some NY attendees, a mad dash after these sales will then be made for the Sunshine State, as the always lively summer FUN show in West Palm Beach, FL will run from June 26-28. Many veteran dealers still haven’t gotten used to this rigorous schedule. After all, not that long ago, this time of year was one that meant vacation, or bare minimum, a bit of relaxation, readying for the big ANA mid-summer show. That’s not the case anymore. This is and has been big business. Over the last several years as the bull market made itself at home, the finite supply of coins has been met with a virtual infinite docket of shows and sales to deal with.

     For new aficionados entering the market, it may seem that there is an unlimited supply of rare coins. Internet only auctions featuring a wide variety of certified offerings are held almost everyday of the week by various major firms. The fact is that since certification, many of the same slabs have been bought and sold over and over again. Of course, dealers are still adamant in their quest to locate top-end rarities in phenomenal condition for their most passionate clientele. A new group of buyers is said to be waiting in the wings as well, anxious to empty substantial Wall Street coffers in exchange for rare coins. All eyes are still on the lookout for those older virgin slabs from PCGS or NGC as many of these offerings are thought to make the “PQ” classification, while hopefully avoiding the sticker shock of a loftier grade. While hordes of buyers remain in place for earlier versions of the certified plastic, still others have taken a shine to the CAC stickered slabs in filling this quality fetish rather efficiently. Having not yet been on the market for a year, those green and gold CAC stickers indicating solid for the grade or potential upgrade, respectively, are universally finding greater acceptance, and in most instances commanding increasing premiums.

     Past habits are hard to break; many of the Classic Silver Commems have descended past the wayside in the sight-unseen market. Leading the slide is the 1936York County Maine, as NGC MS66s are pining for more action having fallen to $180.Several of the Oregon Trail series have taken the wrong path as NGC MS66 Type rolls back to $165. The solitary bright spot is the whimsical 1935 Hudson issue, inching upstream to $875 sight-unseen Bid for PCGS MS63s. Classic Gold is fairing slightly better, although a handful are easing back after sub-par auction results. Generic Morgan Dollars are still on the soft side, yet several of the Carson City issues are getting a nudge from buyers as sundry PCGS product grading MS64-MS66 climb. Leading the pack are the 1880CC in MS65, topping $1,050 blind Bid, and the 1881CC,at $1,000 in MS66. PL Morgans are making their appearance on a quiet note as only commoners in Choice through PL65 jump a bit. Mint State and Proof Type remain super strong, continuing to bolster the market as they have been for several years now. As the golden arrow is still aquiver, most Gold Type has drifted back further. Early Gold Type features viable Bidders in queue. On the move, 1834-1838 Classic Head Fives are driving an 11% advance to$3,000 for NGC examples in MS61. As for Mercury Dimes, a pair of PCGS MS67FBspecimens left substantial money on the table as a 1944D realized $86 at auction in the face of a sight-unseen offer of $140,this nearly 40% under blind money. A1943D reports a similar fate, reeling in only $98 at auction, some 30% under the$140 that the same sight-unseen buyer is willing to fork over.