Dealers are actively looking to buy nice material and are willing to pay strong money to get it. A very strong turnout of dealers are trying to conduct business as usual in these unusual times. They are hoping that the latest Federal Reserve Bank interest rate cut will help an ailing economy. On October 2, the Fed lowered the Discount Rate a half-point to 2.5 percent.
Dealers know that it can be tough to sell rare coins when the economy is sputtering.
Not long ago when the stock market was reaching new heights, collectors were willing to buy major rarities that they remembered from their youth. Indeed, some dealers see funds entering the market as protection against the weak economy and uncertainty at home. In fact, this has been taking place to some degree. This is especially noticeable with the strength seen in Mint State Type Gold. We have seen strong sight-unseen Bids entered for many denominations.