Baltimore Draws Dealers to East Coast

Wednesday, November 18, 1998

        The just completed Baltimore Coin and Currency Show was another excellent production by the team of Ed Kuszmar and Gordon Berg. We can no longer say that this is an up-and-coming show; it has arrived. This twice-yearly show attracts dealers from all over the East Coast, as well as the rest of the country, many that never venture to the opposite coast. Advertising and various promotions attract dealers and collectors alike and they strive to draw kids and new collectors onto the bourse. In addition, the Bowers and Merena Auction is always well attended. This is one of the best-run shows in the country.

        As for the show itself, most dealers felt that business has slowed slightly from the recent madness. Some prices were a little sensitive, but even the coins that may have been discounted from recent highs, were selling at the new levels. Overall, dealers still have lengthy want lists that cannot be filled, either because the coins are not available, or the buyers have not raised their levels high enough to entice the potential sellers into the marketplace. The market remains healthy as new buyers continue to enter the coin market. Some of the new collectors are more investor oriented because they are concerned with Y2K, so they are buying gold and silver coins with modest premiums. This helps strengthen the market in general.

        We introduced a prototype of the NumisMedia Price Guide to several of the major coin dealers at the Baltimore Show. It will be available to the general public for the first time at the FUN Show. It reports the fair market value of the most commonly traded series in the industry; the prices listed are obtained from every reliable source in the country. Many dealers were quite excited about the publication. Paul Montgomery of Jefferson Coin & Bullion said, "This is what the industry needs". While Carol Tailby of Delaware Valley Rare Coins, Inc., offered, "This is the information that my customers will want to know".

        The Bowers and Merena Auction was a combination of cabinets from several well-known collectors. The sale realized over $6 million for the 2500+ lots. Included in this auction was the Great Lakes Collection, in conjunction with Hanks and Associates, Inc. We will list some of the more outstanding highlights below; however, you should contact Auctions by Bowers and Merena, Inc. for a complete listing of prices realized.

DENOMINATION	GRADE	PRICE REALIZED
1820 Large Cent Sm. Date	PCGS PR64 Bn	$43,700
1877 Twenty Cent	NGC PR66	$8,625
1804 Bust Quarter	NGC62	$34,500
1831 Bust Quarter	PCGS PR64	$18,400
1839 Seated Quarter No Drapery	NGC67	$39,100
1898 Barber Quarter	NGC PR69	$20,700
1912 Barber Quarter	NGC PR69	$48,300
1867 Seated Half	PCGS67	$18,400
1899 Barber Half	NGC PR69	$39,100
1795 Draped Bust Dollar	NGC64	$85,000
1887/6 Morgan Dollar	PCGS65	$3,335
1891 O Morgan Dollar	PCGS65	$4,500
1899 Morgan Dollar	NGC PR69	$61,900
1915 S Pan-Pac $50 Gold Rd.	PCGS64	$48,300
1856 S $2 1/2 Gold	PCGS64	$25,300
1896 $2 1/2 Gold	PCGS PR65	$20,700
1879 $4 Stella FH	PCGS PR64	$61,900
1842 C $5 Gold Sm. Date	NGC55	$43,700
1909 O $5 Gold Indian	NGC65	$178,500
1907 $10 Gold Indian Per. W/R	PCGS66	$79,500