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Buyers look for quality at CICF

It came as no surprise that high quality coins were in demand at the 40th annual Chicago International coin Fair held April 9-12 in Rosemont, Ill.

Bernie Gresik of Chicago looks over a 2002 Golden Jubilee gold proof set.

Bernie Gresik of Chicago looks over a 2002 Golden Jubilee gold proof set.

“As usual, really high grade fresh Mexico and Latin type coins were really good,” said Cory Frampton of Mexican Coin Company, Carefree, Ariz.

For Civitas Galleries of Middleton, Wis., ancients performed well at the show.

“We sold quite a few ancient coins that buyers were specifically looking for,” said Civitas President Benjamin Bell.

And, unsurprisingly, the more interesting higher quality coins were in demand, Bell said.

The retail presence was a bit lower than he’d seen in recent years, Bell said.

World foreign exchange conversion rates definitely had an effect, he said.

Other dealers as well ventured that the decline in the buying power of the euro and other world currencies kept overseas buyers at home, including those from Latin America.

“We noticed that some of the Russians weren’t present,” Bell said, “and it dampened the buying powers of the Europeans who were present.”

John Knust of First Light Numismatics talks with a buyer at the 40th annual CICF.

John Knust of First Light Numismatics talks with a buyer at the 40th annual CICF.

Gold values hovering at $1,200 an ounce had more of a psychological impact on buyers, Bell said.

“There are a lot of (collector) coins that are affected by the gold bullion value,” he said. “Gold doubloons are a coin that is collectible and a little scarcer, but is tied to the gold market.”

Bell is also seeing fewer gold coins coming on the market as collectors wait for gold values to climb.

“People are selling less right now,” he said.

But dealer-to-dealer sales were brisk on the first day of the show, which was reserved for dealers to set up their booths and for buyers who paid $50 VIP admission to gain early entrance to the show. Sales to the general public began at 10 a.m. Friday, April 10.

CICF was held at the Crowne Plaza Chicago O’Hare. It featured approximately 70 dealers, club meetings, guest speakers and auctions held by Heritage Auctions. CICF is sponsored by World Coin News and Krause Publications, a division of F+W, A Content and E-Commerce Company, and publisher of the Standard Catalog of World Coins series.

This article was originally printed in Numismatic News.
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