October, 2003  Page 1 Page 2 Page 3 Page 4 Newsletter IndexHome

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remains high, putting a drag on consumer confidence. In other words, the economy is not having a major influence on the rare coin market.       Ever since the state quarter series was introduced and coin collecting became a hobby enjoyed by an estimated  one hundred fifty million people in the United States, the rise in demand and prices in most  areas of numismatics have been fueled by collector demand, not by investor dollars. 

      Whereas the investor dominated coin market of the 1980’s caused unrealistically high coin prices, today’s collector driven market



Is this the next boom area?

Economics and the Coin Market

Customized Numismatic Portfolios

Text Box: up when the stock market goes down and visa versa?

ANSWER:   In a bad stock market, collectors won’t buy stocks, and tend to  spend more freely in coins.  Conversely, in a boom market, purchasing of coins typically goes down, as collectors get distracted by profit opportunities. That being said,  stock market changes have relatively little impact on coins, especially in a coin market dominated by collectors.

shows a more gradual price increase curve. This makes today’s rising prices more solid, and less susceptible to the boom-bust cycle massive investor involvement typically brings. It also reduces the downside risk, because collectors, unlike investors, are less likely to sell - regardless of price levels, making  massive selloffs and big price drops rare if not impossible.

      On the upside, the buy and hold strategy of collectors (and intelligent investors) drives prices up as collectors buy more, with the result that collectors are getting results investors wish they could get.

      This is great


      Last year, I bought a collection of old U. S. currency.  It wasn’t huge or particularly valuable, but it included a large variety of large size notes, many in poor condition.

      Nonetheless, I spent hours pouring over them, and being who I am, I started asking questions.      I discovered obsolete currency is more rare than most rare coins, and has a small but rapidly growing collector base.  Currency has jumped close to ten per cent this year so far, and many dealers believe this is just the beginning.     Currency has individual serial numbers, meaning each piece has its own pedigree and often its own traceable history of ownership.    It is a fascinating and upcoming area of numismatic interest, and I believe it to have the potential for huge price increases.

      We will be watching this area closely.









Following are some fine items offered for sale.  Call 800-334-3325

1934 $1000 FRN, L00011992, Fr. 2211-L.  Currently highest known serial #.of light green seal. GEM BU Exceptionally white.  $3200

1934A $1000 FRN, G00250292A, 2212-G  Almost uncirculated. Great and affordable example of the most common $1000.  134,000 printed.  $1995. 

1934A $1000 FRN, L00097535A, Fr. 2212-L. GEM BU Highest known surviving serial number of the final series of $1000 FRN's from the SF Fed.  Only 36,000 printed.  $3200

J-295 Pattern 1862 $.50 R5 (31-75 minted) Silver PCGS PR-64 CAM.  PCGS Pop. 7/0

NGC Pop.  5/1  Judd 2003 Price 2800/4500

PRICE:  $4300

Exciting piece with “God Our Trust” as the experimental motto on reverse.  Superb cameo luster.

J-272 1860 $5 Pattern PR-62 RB  Longacre design used only in J-283 and J-271. J-271, in gold is listed at $250,000 in PR-65.

PCGS Pop.  1/10

NGC Pop.  0/6

Judd 2003 Price: 3200/5750

PRICE:  $5500