Weekly Market Report: ANA Convention is on the August Docket as Market Nears its Most Active Period

It's the granddaddy of rare coin conventions, it only happens once a year, and that time is fast approaching. We're talking about the annual convention of the American Numismatic Association, a week-long extravaganza of bourse activity, auctions, meetings, parties, and other numismatic hoopla. In fact, the "week" of the ANA actually stretches into two as there is also a pre-ANA show, the PNG one-day show and deals being done in the wee hours of the morning.

The 2001 ANA convention is being held in Atlanta, Georgia, famous for the Braves, the Falcons, "Gone With the Wind," and 200 different streets named Peachtree. The action begins with the pre-ANA show August 3-5 in Duluth, GA, an Atlanta suburb. The scene shifts to Atlanta on August 7th for PNG day (a special day for dealers who are members of the Professional Numismatists Guild and their clients) and the ANA convention August 8-12.

There will be 13,000 important things happen during these two weeks, and we'll sift through them and bring you reports on market trends, price records, what the market leaders think, and whatever else is significant for you to know.

What's happening in the coin market at the moment? With the ANA on the horizon, dealers are "perking up in anticipation of what is hoped will be the best ANA in years," says John Dannreuther of JDRC, Inc., in Memphis, Tennessee. "The summer doldrums finally hit for a week or so because we've all got to take a breather some time, but everyone is gearing up.

"The main action in the market is exactly where you would expect it. Modern coins are still smoking, and high quality coins that are relatively inexpensive are of major import at this time. The commemorative keys are especially strong, particularly when there's an MS66 or MS67 example that is low population."

As mentioned above, this year's ANA convention features some important auctions. One of the highlights is the Bowers & Merena Galleries "Rarities Sale" to be held August 6 beginning at 6 p.m. Online bidding is available through midnight on August 5. To peruse the lots, just click here.

Here are some of the highlights of this exciting forthcoming sale:

• 1848 Half Cent (First Restrike) PCGS PR66RB
• 1793 Chain Cent (America S-2) PCGS XF40
• 1877 Indian Cent PCGS PR66RD
• 1864 Small Motto Two Cent Piece PCGS PR65BN
• 1796 Draped Bust Dime PCGS AU58
• 1796 Draped Bust Quarter PCGS AU58
• 1846 Liberty Seated Quarter PCGS MS65
• 1853 Arrows & Rays Quarter PCGS MS65
• 1878-S Liberty Seated Quarter PCGS MS66(Eliasberg)
• 1794 Flowing Hair Half Dollar PCGS VF20
• 1882 Morgan Dollar PCGSMS65DMPL (Lee)
• 1861 Gold Dollar PCGS PR66
• 1879 Flowing Hair $4 Stella PCGS PR64
• 1865-S $5 Gold Piece PCGS MS64
• 1913-S $5 Indian PCGS MS65
• 1865-S $10 Inverted Date PCGS MS64
• 1944 Half Dollar struck on Quarter Plan. PCGS MS65
  Bruce Amspacher has been a professional writer since the 1950s and a professional numismatist since the 1960s. He won the OIPA sportswriting award in 1958 and again in 1959, then spent eight years in college studying American Literature. This background somehow led him to become a professional numismatist in 1968. Since then he has published hundreds of articles on rare coins in dozens of publications as well as publishing his own newsletter, the “Bruce Amspacher Investment Report,” for more than a decade. His areas of expertise include Liberty Seated dollars, Morgan and Peace dollars, United States gold coins, sports trivia, Western history, modern literature and the poetry of Emily Dickinson. In 1986 he was a co-founder of the Professional Coin Grading Service (PCGS).
  

  1878-S Liberty Seated Quarter PCGS MS66 (Eliasberg) highlights Bowers' sale.

  

  1878-S Liberty Seated Quarter PCGS MS66 (Eliasberg) highlights Bowers' sale.