Central States Show a Success
Strong attendance and robust action on the floor ensured a successful outcome for the Central States Numismatic Society convention.
The May 1-4 85th anniversary convention of the Central States Numismatic Society was a success from just about every angle. The attendance was strong, as was the buying on the bourse floor. Several large dealers said they are continuing to benefit from the higher intrinsic values now being realized by common-date gold and silver composition coins. Scarce to rare coin values have not declined, although there continues to be some lag in the price of generally available, yet collectible coins not impacted by intrinsic value or significant rarity.
Costco hadn’t released sales figures for April at the time this commentary was being written, but it is likely once again that their sales of gold and silver ingots and coins to the general public can be anticipated to have increased from one month earlier.
Circulating commemorative quarters continue to encourage some of the general public to begin collecting. Despite this, it still festers that the Mint and Treasury rely on seigniorage to show a profit, while many of the very coins they strike aren’t even in use. The American Innovation dollar coin program is the prime example of this.
A recent Wall Street Journal article reports that the sustainable waste management company Reworld has estimated that Americans throw away up to $68 million in coins a year. It costs 3 cents to make a 1-cent coin. Obviously, we need change to our change to make it circulate as it is supposed to do. And, the more people use their coins, the higher likelihood some of them will begin collecting them.
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