Blog

Wednesday, November 2, 2016 - 14:36

Now that the summer is over, vacations are done, and we are getting well into the fall season, coins are back in the minds of collectors. This is true for the numismatic hobby at large, as well as for error coin collectors. 

 

Coin collecting always picks up appreciably beginning in the fall and going on through winter and into spring. We’ve noticed the change here at Sullivan Numismatics, with an increase in orders in the last month, and with orders by a wider array of customers, many of which had been buying few if any coins in the last several months. We’ve actually been selling far more error coins than we’ve been able to buy, and are working hard to find high quality errors to replace what has sold.

 

There are many great coin shows coming in the next 6 months, as well as major auctions, and just an increase in activity in the hobby, which is always fun. We will be busy buying all the coins we can from our sources, collectors, dealers, coin shows and wherever we can dig them up. In fact we are currently heading to the Baltimore Whitman coin show held this weekend in Baltimore, Maryland. It’s one of the very best shows of the year, with hundreds of dealers and usually with a good number of error coins showing up for us to buy, so we are hoping to pick up some fresh inventory for our customers.

 

       
 

Selling mint errors at this and other coin shows is generally weak due to the small number of error collectors in attendance, and if we had to make our money off coin shows, we’d quickly go broke! However, despite that, we do bring along as nice a selection of errors as we can stuff in our 5 exhibit cases at the show. Finding the right balance of less expensive errors in addition to higher end pieces means we have something for just about everyone, and it gives beginning as well as advanced collectors a good buying opportunity. 

 

We look forward to working with all of you our customers, and if you have anything special you are looking for, be sure and send us your want list since customers with want lists on file get first shot at fresh inventory. Being on our email alert list also gives you first shot at fresh inventory, so sign up if you’d like to be alerted when fresh inventory is listed (you’ll receive an email about every 2-4 weeks.) Also, feel free to contact us if you have questions or need help with your error collection.




Wednesday, August 3, 2016 - 13:44



The ANA World’s Fair of Money is right around the corner, and we will be attending! The show has some 500+ tables, and thousands of collectors and dealers will be in attendance making for an exciting and fast-paced coin show. This year the show is being held at the convention center in Anaheim, California, which is right next to Disneyland. Here is a link to the ANA's information about the show: https://www.money.org/worldsfairofmoney

 

In terms of error coin happenings, CONECA will be having it’s annual banquet and awards, and the club will also have a table at the show (#789.) We will be set up at the show at table #747, with hundreds of major mint errors for sale. Other error dealers will be there, as well as well-known luminaries in the error hobby, so all in all it should be a busy and exciting show for error collectors! 

 

PCGS and NGC will be set-up, and accepting submissions of error coins at the show, and if you have coins to submit, you can save shipping costs by submitting at the show instead of by mail. Also, PCGS is doing a bunch of giveaways, so stop by their table to take advantage of those. NGC will be having an opportunity for collectors to meed former Mint Director Edmund C. Moy, and the Mint's 12th Chief Engraver John Mercanti at their booth, and get autographs. 

 

Although perhaps you should avoid showing them your mint errors, but the U.S. Mint will have a booth, as will mints from around the world. Typically they feature their newest coin products, and sometimes special sets are available there at the show. They mints are fun to wlak through, and see what new coins are being produced, as well as recent technological inovations that are occuring. 

 

If you attend, be sure and stop by our table to buy, sell, or simply talk errors. We look forward to seeing you at the show, and if you come, you will have a blast!

 

Monday, July 18, 2016 - 06:11

(Image Courtesy of Coin World.)

Another $1.25 Mule has come onto the market! This is one of the best known and most popular mint errors, with examples typically selling for $75,000 to $150,000. Simply defined, a mule is a coin which was struck with the dies of two different coin denominations.

Such a coin has one denomination on one side and another denomination on the other. This has only occurred on a handful of U.S. coins, and so they are excessively rare and therefore expensive. For most collectors, a coin such as this will always be a "dream coin", and not affordable, and instead most collectors have to get a foreign coin mule, which can typically be purchased for under $500. Still, coins like this are the error coin hobbies version of a 1804 dollar or a 1913 v-nickel, and are the ultimate trophy error coins, which rightfully get a lot of attention when they come onto the market. Here's is a Coin World article with more information about the sale: http://www.coinworld.com/news/us-coins/2016/07/collector-buys-11th-of-15-known-mule-errors.html


 

Saturday, July 16, 2016 - 10:59

The Baltimore whitman coin show was a decent show this July, although as with all summer shows they aren't nearly as active as shows held at other times of the year. It was "as expected", with moderate buying and moderate selling, but overall satisfactory with enough of both activities to make the show well worth attending. Some of our regular customer were there, although a good number were not in attendance--probably due to vacations and summer activities keeping coins on the back-burner for them. Also, the summer Baltimore show has no major auction, and that takes some of the excitement and buzz out of the show. But to reiterate, it was worthwhile, and if you have a chance to come next year, consider adding it to your show calendar.



Above: Our table at the show.
 

We purchased a few high end coins, and a moderate quantity of less expensive errors. These will be coming here to the website in the coming weeks. One coin of particular interest was a 1964 Lincoln cent struck on a cancelled India 1/4 rupee, which is excessively rare, and super eye-catching. A few off-metals, some minor off-centers and cheaper errors, and miscellaneous other coins rounded out our purchases. If you’re signed up for our mailing list, we will send our customary email out when these get listed on the website.



Above: one of the coins we purchase at the show: off-metal 1963 Washington quarter struck on a silver Roosevelt dime planchet.
 

We were the only dealer at the show who specializes exclusively in mint errors, and that probably helped make it a decent show since we were offered most of the error coins that dealers or collectors were wanting to sell. In discussing the show with non-error dealers, the general theme seemed to be that buying was good, selling was bad (wholesale or retail), and that prices are soft for all but unusual or nice coins. Of course there are exceptions, and we had a few dealers tell us that sales had been surprisingly good, and they had moved a good number of coins.  Overall the coin market seems to be soft but holding up reasonably well, particularly for nice coins. If a coin is relatively common (in other words, easy to find for sale), the prices are generally soft. This is a good time for collectors to be building their collections—as the saying goes “buy low, sell high”, and that is appropriate for the current state of the coin market. Buy selectively, but buy. 



Above: The show was well attended, and there was a decent "buzz" of activity on the bourse floor.
 

There was a lot of talk on Thursday and Friday about protestors, which were supposed to be protesting about a block from the convention center on Friday at 7 PM. The coin show staff decided to close the show on Friday 2 hours early out of an abundance of caution, but even that turned out to be unnecessary, as nothing happened at all. After the rioting which happened a year or so ago (not at the coin show of course, but just in Baltimore in general), a number of dealers (maybe 1/5th) left the show this year early, afraid that events might take a turn for the worse. Their empty booths dotted the show coin show floor. However, nothing happened, and all they did was miss out on a decent coin show.

 

It was nice to see some of our regular customers, do some buying and selling, and talk coins with fellow dealers and collectors. In an age of coin collecting where most buying and selling is done online, it is great to go to coin shows and be around fellow collectors and dealers to do business and talk coins. If you’ve not attended a coin show in a while, take the time as there’s nothing like it.

 

For those who will be at the ANA Convention in Anaheim, California next month, we look forward to seeing you at our table! Bring your error coins to buy or sell, or if you 

 

 

 

Wednesday, July 13, 2016 - 12:41

 

We will be set-up at the Baltimore Whitman coin show this weekend in Baltimore, Maryland. Our table is "Sullivan Numismatics" #340, and we will have hundreds of rare mint errors with us for sale. This is slightly smaller than the winter or fall Baltimore shows, but is still worth attending as there will be hundreds of dealers in attendance. http://expo.whitman.com/baltimore-summer-expo/

If you have anything you wish to sell, bring it, and we will give you our best offer. We are strong buyers of all major mint errors!