Business Opportunities Weblog

January 11, 2008 by Rich Whittle | 1 Comment

MSNBC:

Unlike those crinkled bucks in your wallet, the Morgan silver dollars for sale on Mike Lavanga’s Web site have surged in value since they stopped being minted in the early 20th century.

The antique American coins, with Lady Liberty’s profile on the face and an eagle on the back, are increasingly looking like good buys to foreigners, whose cash is strengthening against the dollar.

Lavanga, of Holland, Penn., said sales to buyers outside the United States have increased this year by 65 percent compared to 2006 and have doubled as a percentage of total sales on his website. Lavanga’s wife Karen Vincent, an attorney by trade who sells shoes and purses on eBay Inc., has also attracted more bids from places like England, France and Italy.

The economy has slowed and the dollar is weakening — not usually a winning combination for small U.S. retailers. But many of those who sell their goods online are finding that buyers from other countries are gradually making up a larger portion of sales. Exchange rates may not be a deciding factor when one buys boots, bangles or home-run baseballs, but they are certainly working to foreigners’ advantage these days.

On average, the dollar has fallen about 10 percent against the major world currencies over the last year. The euro has been hitting a series of records versus the dollar, and is now worth $1.44 — up from $1.27 a year ago and 98 cents five years ago. The British pound has also gained on the dollar to reach multi-decade highs, rising to $2.06 from $1.90 a year ago and $1.56 five years ago.

Photo by Mel Evans.

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Tags: Money, Sales, Trends