David Lawrence Rare Coins * December Market Update

Posted by John Feigenbaum at 29 December, 2009, 10:02 pm. 489 views
Categories: Hot Topics, John Feigenbaum's Ramblings

2009 was one of those years that came in like a lamb but is going out like a lion. The majority of this year seemed to mirror the greater economy. Buyers were cautious and expected that prices would fall over the course of the year — and they did. Not in all series, but prices generally followed a downward trends this year.

At David Lawrence Rare Coins we still managed to keep inventory moving in both directions, and the year has ended up almost exactly in line with 2008. Not bad, considering a lot of other companies are struggling. But at DLRC, we’ve pulled back in non-profitable areas (like stamps) and concentrated more on our core business — our collector customers. And we’re doing it better than ever. We’re much more focused on customer service, than we’ve ever  been — and it’s a lot more fun this way.

Back to the market… the months of October and November saw huge spikes in gold spot prices and the metal went through the roof. Sure it was a fun, if short, ride. December brought on a steady decline in spot metal prices, which has taken a lot of air out of this balloon, but I personally like $1100 gold which feels much more stable. There seems to be a lot of support at this level, and the market will benefit from some added confidence.

Something strange also happened in December… coins started to sell again. For the first time all year, we felt a surge in buyers and the result is that this is the biggest month we’ve had all year! Buyers are feeling confident an recognize that there are some great deals out there.

I am expecting big things in 2010. I think it’s going to be a great year in the coin business, and it’s been a while since I felt this good about the market.

From all of us at DLRC, we wish you a healthy and prosperous New Year.


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