End of Summer 2005 market report
by Dean Albanese
Hi to all,
Sunshine is what our western NY weather has been about this summer with nothing but great warm days and pleasant evenings. For the most part summer is an off time for the coin hobby. Not that it comes to a stand still but it definitely slows down. Auctions have been ho-hum with the exception of great coins - they continue to perform splendidly.
The U.S. Mint's introduction of the new 5 cent series continue to fuel new collector interest in coins which is very healthy. I'm sure many have read about the so called coin scandal in Ohio. Well as I see it maybe there is some foul play but let's wait and see what the professionals come up with in their investigation. It does seem that there definitely is an element of "politics" involved which is unfortunate. I don't think this is going to have any long term negative impact on the industry, but rather it in a way will help, as many will figure it out that when they spend their hard earned money there are many very honest, reliable coin dealers who you can do business with.
Whenever we are able to buy any classic rarities they don't last long in our inventory. Astute collector/investors are finding out that these type coins are truly for the ages and that looking at a period of time longer than five years these coins perform wonderfully. Basically all of the great coins reside in PCGS or NGC holders and with population reports you have a world of information at your fingertips, so you can make an intelligent choice. If a dealer doesn't want to take the time to help educate you I feel they aren't worth your precious time. I feel an educated client is one who will do well over time with his choices and will be faithful in doing his business with whomever treats them correct.
Long term should be the norm in thinking on the part of the dealer and collector alike. I tell many that it is better to do business with one or two dealers you trust rather than have five or more dealers chasing the same coin for you, making the price rise artificially. Be patient and let the coins come to you and I guarantee that over time you'll get your gem. Well I leave it at that and give you time to absorb what I have had to say. I hope it is of help and always keep in mind you can call us or email us with questions or concerns.
Good luck, God bless and may you find the coin of your dreams.
Dean M. Albanese, CEO, Albanese Rare Coins, Inc.
Dean's father David Albanese is a Nostomania coins advisor. They can be reached at their outstanding web site.
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