A large bourse with strong public attendance has made Whitman's Coin & Collectibles Convention in Baltimore – held three times annually – one of the country's most active coin shows. The Nov. 16 to 18 show demonstrated that the coin market is vibrant in nearly all segments.

Business was brisk for dealers trading in inexpensive circulated coins. Not enough nice high-end coins are available on the market to satisfy demand.

Stack's conducted a successful preshow auction. Q. David Bowers, of Stack's, remarked that the room could have been empty (it was well attended) and the auction still would have been successful because of Internet and telephone bidding.

Some high-grade Morgan dollars, a slow market segment at this time, sold for some astounding prices in this auction. For example, a Mint State 67 1882 Morgan dollar brought $26,450 and a 1901-O Morgan dollar graded the same, both by Professional Coin Grading Service, brought $19,550. These are common dates!

The total Stack's prices realized, including the paper money session, exceeded $10.3 million.

The official convention auction was conducted by Bowers and Merena Auctions. At nearly $9.5 million, this was the highest prices realized from one of the firm's Baltimore auctions conducted by the current ownership, the Escala Group.

According to President Steve Deeds, this was also the largest auction of the current firm in terms of total lots – 6,094 auctions lots of both rare coins and paper money.

The highlight of the Bowers and Merena auction was an 1854-O Coronet gold $20 double eagle, graded About Uncirculated 50 by PCGS, fetching $368,000. This compares to an About Uncirculated 55 example the firm sold in an August auction for $494,500.

Simply put, this Baltimore convention showed us that this 5-year-old numismatic bull market is still moving full steam ahead. No indicators are on the horizon showing that this bull market is slowing down.

To the contrary, as we experience higher oil and gasoline prices, overall price inflation is expected to keep this the bull market running because numismatic coins are a great place to put money during inflationary times.