The Baltimore show, located in prime collector territory, was generally deemed a success by those dealers in attendance. Public presence was strong, with collectors actively seeking select coins. The true measure of success these days is the number of fresh, eye appealing coins one is able to buy or sell. Dealers savvy enough to bring with them fresh coins that haven’t been tampered with were able to sell rather easily. Difficulty was predominantly on the buying side, as has been the case throughout 2008. Fresh material is absolutely scarce as the nice, interesting and rare coins have been disappearing rapidly from the market into the tight hands of knowledgeable collectors. It has been very difficult for dealers to locate and buy, at a reasonable price, coins that are considered to be original and attractive for the grade. Specimens that do meet these qualifications are often offered at prices that are just too far above the market to complete a transaction.

Type coins continue to dominate the attention of today’s buyers, and that was certainly true in Baltimore. Pre-1900 Type coins are a hot commodity, and collectors are chasing Bust, Seated and Barber material with zeal. Still, buyers are extremely selective, unlike what we saw earlier in the year when they were willing to buy nearly everything in sight. Weakness is clear among generic Gold, and premiums have melted away for some. A similar scenario was seen in Long Beach. It appears that dealers are currently burdened with a heavy inventory of generic Gold they need to sell.

Teletrade has been making great strides in increased acceptance by the sophisticated numismatic community, as evidenced by their higher-end material for sale and higher prices realized. On June22, Teletrade is poised to make history once again as the Kovach Collection, the third finest California Fractional set of all time in the PCGS registry, will be auctioned. DLRC has completed its sale of the Southern Seated Dollar Collection, an example of a new service which allows consigners, in this case a collector from Mississippi, to offer their own named internet auctions. These Proof Dollars brought in over $650,000, and included several finest known examples: The 1848 NGC 66, which realized$103,500; an 1844 NGC 66 Cameo, hammering $155,250; and an 1854 PCGS 65 Cameo, realizing$63,250.

The June 2008 Baltimore Auction by Bowers and Merena claimed $6.3 million. We listed a few of its many highlights. Stack’s Husky and Glenn E. Bergstrom Collection auctions, June 25, are next in New York. The former features multiple, high-priced ultra rarities, and the latter is a fine assortment of collector coins. Dealers will then head south for the Summer FUN 2008 convention and Heritage sale in West Palm Beach, June 26-29.