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Summer Doldrums Hard to Find
By Harry Miller

Have the summer doldrums hit the coin market? I think not. The recent Summer Fun show saw the Heritage auction pull in $9 million, which is not bad for July. The show was mainly attended by dealers with limited public attendance. The corresponding Clearwater show was strong. Several of the larger dealers wandered over from the FUN show. One dealer friend reported doing over five times what he normally does at Clearwater; of course he had fresh material to offer. That is the key to the market today. Mundane readily available items are weak (tight money) but anything scarce, popular or particularly nice for the issue will bring out the vultures in force.

Morgan dollars are a little soft in the generic mid-range BU issues, but there is definite interest in nearly all mid-range non-generic issues. The Jack Lee 1886-O $1 in MS-65 brought about $20,000 less that expected at the FUN auction, but it still brought $149,500.

Peace dollars show about the same activity as Morgans with the exception of the 1928 Philly, which is down in all grades to MS-63. We have noted many in dealers' wholesale boxes over the last several months and there are no current promotions.


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