NumisMedia Market Report: True Rarities at Center of Attention in Chicago

Posted on 9/18/2011

A general concern for dealers over the years is the lack of old-time rarities entering the market.

At the recent Chicago ANA, dealers and collectors were extremely pleased to see a remarkable amount of true rarities in dealer inventories, and in the two auctions; Heritage Auctions held the week prior to ANA, and the Stack’s Bowers Official ANA Sale. These two sales realized over $70 million. The following charts contain some of the highlights of these two major sales. For complete prices realized please contact Heritage Auctions or Stack’s Bowers Galleries.

Heritage Auctions

Denomination Grade Price Realized
1802 Half Dime NGC AU50 $212,750
1855 S Arrows Quarter NGC PR64 $276,000
1855 S Arrows Half NGC PR65 $276,000
1892 S Morgan Dollar NGC MS67 $184,000
1893 S Morgan Dollar NGC MS67 $546,250
1855 D $1 Gold NGC MS64+ $143,750
1796 $2 ½ Gold No Stars PCGS MS61 $276,000
1855 S $3 Gold NGC PR 64 Cameo $1,322,500
1879 $4 Gold FH PCGS PR65+ Cameo $253,000
1796 $10 Gold NGC MS62 $149,500
1863 $10 Gold PCGS PR65 DCameo $299,000
1920 S $20 Saint PCGS MS64 $115,000

Stack's Bowers Galleries

Denomination Grade Price Realized
1975 No S Roosevelt Dime PCGS PR68 $349,600
1804 Bust Quarter PCGS MS63 $184,000
1847/6 Seated Half NGC MS62 $43,125
1855 S Arrows Half NGC MS67 $115,000
1870 CC Seated Half NGC MS62 $172,500
1874 CC Arrows Half NGC MS64 $57,500
1878 S Seated Half PCGS MS63 $184,000
1795 Draped Bust Dollar PCGS MS63 $149,500
1859 Seated Dollar PCGS PR67 Cameo $63,250
1879 O Morgan Dollar NGC PR66* UCameo $158,125
1796 $2 ½ Gold Stars NGC MS63* $287,500
1879 $4 Gold FH PCGS PR65 $184,288
1795 $10 Gold 9 Leaves NGC AU58 $218,500
1909 $20 Saint NGC PR67 $132,250

There is a very strong following for Carson City Twenty Liberties and, when offered for sale in major auctions, there are always multiple bidders, no matter the grade. Of course, when the grades are near the finest certified, the competition becomes very determined. This past month the highest graded 1879 CC $20 Liberty sold in a private transaction. In order to avoid competition this advanced collector negotiated to pay the highest recorded price for this MS62 certified by NGC. The last recorded sale of this coin was at FUN in 2005 for $43,700. Also at FUN that year the only other MS62, this one certified by PCGS, sold for $52,900. The Fair Market Value for this coin is now recorded at $84,500.

This past month has shown that the coin industry is a vibrant market. There is so much confidence that even when prices go down there are still hundreds if not thousands of buyers for just about every series. This is much different than thirty years ago; when a market went south, buyers quit buying altogether. In some series, there were absolutely no buyers and if you needed money you were just out of luck. Today, if the price is too cheap someone will buy it for a collection or hold on to it until that particular series makes a comeback.

This article is a guest article written by:

The thoughts and opinions in the piece are those of their author and are not necessarily the thoughts of the Certified Collectibles Group.

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