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
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