End of Summer 2006 Market Report
by David Albanese
Hello and welcome to the new market insight.
Just looking at what is going on in the world you get a sense of a very bad market with prices dipping daily. But that is the case for stocks, not coins!
At the ANA show the auctions from what I've seen, went very well and strong prices were being paid for nice coins.
We purchased a coin for a record price, the 1861 $20 Type 1 Proof 67 Ultra Cameo for $483,000.00. We bought the coin for a private collector who is putting together an amazingly rare museum collection.
The word we've received from the bourse floor is that most dealers did well and super rare coins did "very well".
As I am writing this Gold spot prices have risen over $12.00 to $624.60 which is a good sign of things to come keeping gold coins such as Double Eagle Libs and Saints on the rise.
Summer time is almost at an end and actually I am happy, Fall is the best time of year, the leaves changing, the smell of the air and coin business seems to come back to life after a small hibernation period every summer season. Prices are as steady though as they were before summer time which is super and this is because material is just so difficult to come across.
Keep in mind if there is a particular piece that you just can't come across, please don't hesitate to give a call. As you can see by our Hall of Fame we have located and sold some of the rarest coins in numismatics.
Keep watch on our site (link below) as we will be putting new inventory up over the next couple weeks from the ANA show.
Very best regards to all,
David M. Albanese, CEO, Albanese Rare Coins, Inc.
David Albanese is a Nostomania coins advisor. Albanese Rare Coins can be reached at their outstanding web site.
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