Rolls of gold eagles, stacks of silver dollars and enough printed currency to paper the walls drew more than 1,100 coin dealers and collectors to the Ramada Convention Center on Super Bowl weekend.
Hosted by the Ocala Coin Club, the 28th annual show featured more than 55 numismatic dealers. An estimated $1.7 million in coins, paper currency, precious gemstones and archeological artifacts were up for sale, according to Rich Salvar, corresponding secretary of the club.
"We are extremely pleased with the dealer and public response. This year topped last year, following a consecutive trend for as long back as I can recall. We are also grateful to the many club members who volunteered their time to making this show successful," Salvar said.
The consensus among most of the dealers is that the precious metals commodities positive response is partially indicative of the precious metals market's exploding growth and the return of the collector as a buying force. Investors and speculators have been fueling a lot of the growth in the bullion markets, according to Salvar.
"Once again, we broke sales and attendance records. While interest in coins and currency remains high in the investment arena, the fact we have so many collectors attending and buying indicates a recovering economy. People are starting to buy for the joy of collecting again," Salvar said.
D. J. Locker, of D. J. Locker Co./Salem (Ohio) Coin Exchange, concurred. "The turnout and sales were incredible. We had very active selling across the board and the bourse [sales area] was fantastic," he said.
Andy Garrison, senior archeologist adviser of Ancient Artifact of Treasures of Winter Park, was among the dealers paying special attention to young collectors.
"I always ask the kids if they have a library card or if they enjoy reading. An affirmation of either will get my endorsement, encouragement and a special discount," he said.
The majority of the dealers predict new highs in 2011 of $2,000 per ounce for gold and $50 or higher per ounce of silver, but Garrison was among those sharing a tempered outlook.
"We may see gold hit $1,600 by the end of 2011, but I don't agree with the $2,000 mark many are forecasting.
"Demand will remain strong due to fears concerning the devaluing of the American dollar. Silver, however, is still underpriced and I won't be surprised to see it top $50 an ounce this year," Garrison said.
Nicholas Hauser, of Hauser's Coin Co. in Lakeland, offered one of the largest inventories of collector coins and bullion and is among those bullish on gold.
"I am confident gold will hit $2,000 an ounce in 2011, and while silver is becoming more plentiful, it will still continue to rise," he said.
Hauser also believes the return of the hobbyist/collector who is buying commemorative coins issued by the U.S. Mint is a healthy indicator of consumer confidence.
"The commemorative market is always the last to bounce back. It is now slow, but steady, versus the very flat market of the last few years," he said.
Salvar and other dealers were in concurrence on factors that will determine the near future of the precious metals markets. Each cited the potential for conflict and civil unrest based on current Middle East turmoil, the weakness of the U.S. dollar and inflation fears as primary factors.
"You also have to allow for the totally unforeseen natural or man-made ecological disasters, or the eruption of armed conflict in previously stable regions. All of these can have a dramatic and immediate impact on the bullion market," he said.
By mid-Sunday afternoon, the majority of dealers were packing up early, a standard indicator of sales satisfaction. Conversation was shifting from gold to the Steelers, from profit taking to the Packers, with most dealers pleased to wrap up their own super weekend.
Source: http://www.ocala.com/article/20110207/ARTICLES/110209757/1005/sports01?Title=Dealers-at-coin-club-show-see-upswing-in-sales
Hosted by the Ocala Coin Club, the 28th annual show featured more than 55 numismatic dealers. An estimated $1.7 million in coins, paper currency, precious gemstones and archeological artifacts were up for sale, according to Rich Salvar, corresponding secretary of the club.
"We are extremely pleased with the dealer and public response. This year topped last year, following a consecutive trend for as long back as I can recall. We are also grateful to the many club members who volunteered their time to making this show successful," Salvar said.
The consensus among most of the dealers is that the precious metals commodities positive response is partially indicative of the precious metals market's exploding growth and the return of the collector as a buying force. Investors and speculators have been fueling a lot of the growth in the bullion markets, according to Salvar.
"Once again, we broke sales and attendance records. While interest in coins and currency remains high in the investment arena, the fact we have so many collectors attending and buying indicates a recovering economy. People are starting to buy for the joy of collecting again," Salvar said.
D. J. Locker, of D. J. Locker Co./Salem (Ohio) Coin Exchange, concurred. "The turnout and sales were incredible. We had very active selling across the board and the bourse [sales area] was fantastic," he said.
Andy Garrison, senior archeologist adviser of Ancient Artifact of Treasures of Winter Park, was among the dealers paying special attention to young collectors.
"I always ask the kids if they have a library card or if they enjoy reading. An affirmation of either will get my endorsement, encouragement and a special discount," he said.
The majority of the dealers predict new highs in 2011 of $2,000 per ounce for gold and $50 or higher per ounce of silver, but Garrison was among those sharing a tempered outlook.
"We may see gold hit $1,600 by the end of 2011, but I don't agree with the $2,000 mark many are forecasting.
"Demand will remain strong due to fears concerning the devaluing of the American dollar. Silver, however, is still underpriced and I won't be surprised to see it top $50 an ounce this year," Garrison said.
Nicholas Hauser, of Hauser's Coin Co. in Lakeland, offered one of the largest inventories of collector coins and bullion and is among those bullish on gold.
"I am confident gold will hit $2,000 an ounce in 2011, and while silver is becoming more plentiful, it will still continue to rise," he said.
Hauser also believes the return of the hobbyist/collector who is buying commemorative coins issued by the U.S. Mint is a healthy indicator of consumer confidence.
"The commemorative market is always the last to bounce back. It is now slow, but steady, versus the very flat market of the last few years," he said.
Salvar and other dealers were in concurrence on factors that will determine the near future of the precious metals markets. Each cited the potential for conflict and civil unrest based on current Middle East turmoil, the weakness of the U.S. dollar and inflation fears as primary factors.
"You also have to allow for the totally unforeseen natural or man-made ecological disasters, or the eruption of armed conflict in previously stable regions. All of these can have a dramatic and immediate impact on the bullion market," he said.
By mid-Sunday afternoon, the majority of dealers were packing up early, a standard indicator of sales satisfaction. Conversation was shifting from gold to the Steelers, from profit taking to the Packers, with most dealers pleased to wrap up their own super weekend.
Source: http://www.ocala.com/article/20110207/ARTICLES/110209757/1005/sports01?Title=Dealers-at-coin-club-show-see-upswing-in-sales
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