NumisMedia Market Report: Prices Advance on Positive Auction Results

Posted on 11/10/2009

This month NumisMedia has a lot to report about continually improving prices in the market. And it’s looking like metals in particular are about to skyrocket. NumisMedia has the full story.

There are many dealers, collectors, investors and market analysts who believe the metals are about to skyrocket. The strength of the metals and the weakness of the economy have more investors predicting that the long-range value of Gold will surpass any other investment. Thousands of buyers are putting most of their available assets into Gold, Platinum and Silver at this very moment. The more novice collectors and investors are buying Modern Bullion coins because they feel comfortable with products that have a stronger basis of bullion value. However, dealers and advanced collectors know that numismatics and bullion will make for a more positive combination and the profits generated will be much higher than strictly modern bullion coins. Historical data from major auctions supports this strategy.

The latest Heritage Auction Galleries Sale was conducted at their Dallas location, October 22–24, and there was a dramatic upswing in some Carson City Twenties, especially the 1876 and 1890. There were thirteen 1876 CC Twenty Liberties ranging in grades AU 50 to MS 61. Prices for the Mint State coins were a solid 25% over the previous FMV for the date. What we find even more interesting is the fact that the population for these coins is a total of 148 in MS 61 and 98 in MS 62. These are the combined pops for NGC and PCGS. However, with auction prices like these, it is a strong indication that these populations are inflated because of resubmissions. If there really were that many coins certified in both MS 61 and MS 62, there would be more coins visible in the market place. Also, the fact that NGC has only certified one coin above MS 63 and only four coins in MS 63 leads us to believe that there have been a lot of resubmissions of Mint State coins that exhibit extra eye appeal, trying to obtain the next higher grade.

The 1890 CC Twenty also was represented with 13 coins from Extra Fine to MS 61. These coins brought premiums above the previous FMV for the grades. The MS 60 and MS 61 were especially strong, with one of the MS 61s bringing MS 62 money. This date has only five coins certified above MS 62. The 1876 CC and 1890 CC are two of the highest-minted Twenties from the Carson City Mint. While there are several dates in the 80s and 90s with lower mintages, some are more readily available than the 1876 and 1890. Current availability plays a major role in overall value. Here is a rundown of the prices realized for several of the 26 Carson City Double Eagles.

Date & Grade   Price Realized  
1876 CC AU 50 $2,300
1876 CC AU 55 $2,990
1876 CC AU 58 $4,600
1876 CC MS 60 $7,475
1876 CC MS 60 $8,625
1876 CC MS 60 $9,200
1876 CC MS 60 $10,925
1876 CC MS 61 $12,075
1890 CC XF 45 $1,783
1890 CC AU 53 $2,185
1890 CC AU 55 $2,313
1890 CC MS 60 $5,463
1890 CC MS 60 $6,325
1890 CC MS 61 $8,050
1890 CC MS 61 $8,625
1890 CC MS 61 $9,775
1890 CC MS 61 $10,350
1890 CC MS 61 $12,650

As you can see, prices for the same date and grade can have quite a range depending on eye appeal. This is a very hot area of Twenties and one in which buyers are looking for original coins that have not been harshly cleaned. Nice original color will bring out the more aggressive buyers. Most of the other dates are just as active. These dates are in such high demand because the populations are considered very low for most of the grades compared to other Twenties of the same era.

Total prices realized for the Heritage Sale was $8.7 million. This was a remarkably good result for an auction not run in conjunction with a major coin show. The following coins are some other highlights from this sale.

Denomination   Grade   Price Realized  
1969 S Doubled Die Cent NGC MS 63 Rd $57,500
1805 Bust Quarter PCGS MS 64 $22,500
1808 Bust Half NGC MS 66 $16,100
1882 Seated Half NGC MS 68 $16,100
1917 D Walker Obv PCGS MS 66 $14,950
1936 Walker NGC PR 67 $12,650
1870 CC Seated Dollar PCGS MS 61 $25,300
1880 O Morgan Dollar NGC MS 65 P/L $20,700
1882 O/S Morgan Dollar NGC MS 65 $18,400
1884 S Morgan Dollar PCGS MS 62 $20,700
1893 O Morgan Dollar PCGS MS 64 $23,000
1916 $1 Gold McKinley NGC MS 68 $16,100
1914 D $2 ½ Gold Indian PCGS MS 65 $40,250
1879 $4 Flowing Hair NGC PR 65 $161,000
1907 $10 Indian Wire Rim NGC MS 64 $40,250
1930 S $10 Indian NGC MS 64 $43,131
1885 $20 Gold PCGS MS 61 $57,500
1891 $20 Gold NGC AU 58 $40,250
1925 S $20 Saint NGC MS 66 $149,500
1927 S $20 Saint NGC MS 66 $109,250
1929 $20 Saint PCGS MS 65 $89,125

For all prices realized, please contact Heritage Auction Galleries in Dallas.

This article is a guest article written by:



Numismedia

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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