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NumisMedia E-News Weekly
E-newsletter provided for Dealer Subscribers and Members of NumisMedia.
ANA Money Show Next Major
March 15, 2010
Bullion remains the most active area for dealers on the teletype networks. Modern Gold, Silver and Platinum coins are keeping dealers busy trying to balance their needs on a daily basis. Throw in silver bags, silver dollars, and foreign gold and this makes up about 70% of the trading among dealers these days. With the ANA Money Show fast approaching, the metals will be closely watched for the next couple of weeks. The ANA is being held in Fort Worth, March 25-28, and Heritage Auction Galleries will host the official ANA Auction.
In this week's Moderns Wholesale Market Dealer Price Guide, we found very few changes for most of the series from Modern Lincoln Cents through the Presidential Dollars. When most of these common coins in common grades trade, it is at the present levels. However, we have been monitoring higher Market prices for some of the rarer Modern $5 Gold Commemoratives. The 1995 W Olympics Torch Runner, Stadium, 1996 W Olympics Flag Bearer, and Cauldron all have increased in Market price for the MS69 and MS70 grades. These are not easily found in the marketplace. There are at least two market makers looking for these coins.
Buffalo Gold, especially the 2008 issues, is extremely active. Several competitive dealers around the country need all denominations in the original government packaging or grades of 68 to 70. The Market price has increased for all 2008 W coins in MS and Proof 69 and 70 this week. The Market for the $50 coin in Ultra Cameo PR70 is up to $3,450. The smaller denominations are infrequently offered for sale on the teletypes.
Read all of this week's E-News for website updates, E-News exclusive discounts, What's Hot, What's Not, and more. E-News Weekly is available to Dealer Subscribers and Members only.
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Archived Favorite - A past article from the NumisMedia Archives
The Coin Guys - Bubba and Zemo
An educational yet entertaining look at the world of numismatics.
The New 50 State Quarter Program
First run March 22, 1999
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Zemo:
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Well, we're underway with the new quarter reverses, and while they're not always being touted as such, they ARE actually COMMEMORATIVE coins. Each state will be honored by their reverse design in the order in which they ratified the Constitution or were admitted into the Union.
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Bubba:
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The first state to do so, Delaware, has had its coins in circulation since early January.
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Zemo:
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The reverse depicts CAESAR RODNEY, a signer of the Declaration of Independence, on horseback, ostensibly on his way to Philadelphia to tell the Continental Congress "Yep, Delaware has voted to accept the Constitution, and to sign that important document.
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Bubba:
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Incidentally, you know what kind of horse Caesar is riding, don't you?
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Zemo:
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It's a QUARTER horse, of course!
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Bubba:
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We saw the first of the second state's coinage (Pennsylvania) at the Sacramento ANA in mid-March.
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Zemo:
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The reverse of this coin has a draped female (Liberty?), superimposed over an outline of the state, with a keystone, for the keystone state, Bubba, it's NOT a CHURCH KEY! in the upper left corner, just about over Meadville. In both of the last two issues, the Denver strikes appear to be "cleaner", with more detail.
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Bubba:
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What about the other three reverses for this year?
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Zemo:
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The remaining three will be released in June (New Jersey), August (Georgia) - sit DOWN, Bubba, and stop singin' "Dixie"!, and in November (Connecticut). Five states, again in order of joining the Union, will be issued each year until Oklahoma, New Mexico, Arizona, Alaska and Hawaii have their turn in 2008.
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Bubba:
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These 50 coins will certainly be collectible, but will they be valuable in the future?
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Zemo:
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Plans are to mint several hundred million of each, so they certainly won't be rare. Like the Bicentennial coinage in 1976, they'll be saved, primarily because of the novelty of the new designs, but also like the Bicentennial quarter, half dollar and dollar, I don't feel they'll ever be worth much over face value. The mint will also be producing some in clad and silver Proofs, so depending upon the mintage of these, some could command premiums over the issue price down the road.
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Bubba:
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How about errors and varieties on these commemorative quarters?
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Zemo:
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Taking the latter category first, I suspect there will be few significant die varieties on these due to the new die production methods and the (supposedly) closer inspection by the mint of the production dies. If a major variety SHOULD occur on any of the 50 designs, it would be highly collectible, and, depending upon the type of variety, it COULD command significant premiums.
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Bubba:
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ERRORS are another matter, right?
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Zemo:
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There is already a frantic demand for mint errors on the first two issues, the more dramatic, the better. One major error dealer told me he has a standing order from one of his customers for ANY major error that comes along. Few have been found to date on the Delaware issues, and I haven't heard of any yet on those from Pennsylvania. I feel errors on the 50-state coins will always be very much in demand, similar to those on the aforementioned one-year Bicentennial series.
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Bubba:
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Can you imagine a major error on all 50 coins?! What an incredible exhibit in the year 2008!
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Also from David L. Ganz, an extensive look at the laws that govern our numismatic community and other topics of interest.
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