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NumisMedia Weekly Market Report
Current News and Analysis of the
United States Rare Coin Market
Discounted Market Lingering as the Year Winds Down
November 20, 2023
Stack's Bowers Galleries completed the Whitman Baltimore Convention Sale this past week with numerous rarities realizing strong bids. However, there were also several better-date coins that sold for well under the current FMV. As this year is coming to a close the market has been hesitant, but a new year is approaching and buyers may just be waiting to see what the market looks like on the other side.
There was an unusual number of Private Minted Gold coins that brought top dollar at Rarities Night. These coins are not listed in our pricing index, but two of the top sellers are highlighted and some other rarities are charted below (some pictured) with results from the Stack's Bowers Galleries sale.
1855 $50 Gold Kellogg & Co. certified by PCGS PR63 Cameo and CMQ
The 1855 $50 Gold Kellogg & Co. is one of the most prized coins from the California Gold Rush issues; it is referred to as the "King of Territorial Gold". All of these coins were struck as trial or presentation pieces. The original mintage is guessed between 6 and no more than 20, and the current known population is 14. This coin originally belonged to Augustus Humbert and eventually found its way into the Louis Eliasberg Sr. Collection. The population reports indicate there are 3 coins in PR64 Cameo, but none have been sold in a recent documented auction. This PR63 Cameo realized $780,000 in this sale.
1855 $50 Gold Kellogg & Co. PCGS PR63 CMQ sold for $780,000 in Stack's Bowers Galleries November 2023 Auction 'Rarities Night' in Costa Mesa, California, November 14, 2023
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