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NumisMedia Weekly
NumisMedia Weekly Market Report


Current News and Analysis of the

United States Rare Coin Market




November 3, 2008

Mixed Market Awaits Election


     The economy and the coin market are mixed with the election foremost on the minds of most Americans. The decisions made in the next few days will also go a long way towards determining how the coin market will react. However, in this state of uncertainty, many serious buyers have been looking for bargains while sellers have been somewhat apprehensive and would rather be in a cash position.

     This week’s LD Wholesale Market Dealer Price Guide shows a variety of adjustments. Rare coins with low populations continue to advance when they become available on the market. For example, the 1832 Proof 64 Brown Half Cent jumped to $45,000 wholesale opposed to the previous listing of $41,500. The 1796 Liberty Cap Large Cent in AU55 moved to a higher $12,500 from last month’s price of $11,750. The 1864 Small Motto Two-Cent in Red MS65 & 66 both advanced this week. The new Market prices are $6,950 and $17,500, respectively. These issues and many other low-pop rarities remain high priority for advanced collectors.

     Not all of the revisions this week were increases. Like we mentioned many buyers are bargain hunting and some Market prices are reflecting lower levels. Most of the declines are in series dated after 1900, although there are a few in Indian Cents as well. Most adjustments are minor like the 1904 and 1906 Indian Cents in MS65 Red & Brown; down $5 to $160 Market. While many Lincoln Cents have advanced for the better dates in higher grades, we found some declines for issues where the quantities available outweigh the current demand. Even the 1922 Strong Reverse in XF and AU53 retreated slightly; some of the rare dates have advanced so much in the last couple of years it was just a matter of time before some grades met resistance.





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