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NumisMedia Weekly
NumisMedia Weekly Market Report


Current News and Analysis of the

United States Rare Coin Market




September 13, 2010

Market Holds Firm as Long Beach Nears


áááááWith Long Beach just ten days away, it should give everyone enough time to get ready to engage the market. The last couple of weeks have been a little slow due to the fact that ANA was so successful; it takes time for dealers to recoup funds from clients. Dealers and collectors have to reassess their positions to determine their next purchases. The metals have been mostly consistent with Gold holding the $1,240 mark, while it surged toward $1,260 last week. As quiet as it has been, Gold is not far off of its all time high of $1,261. Dealers are hoping metals will hold steady, if not advance for Long Beach week.

áááááDealers and collectors appear to be expanding their interests into more defined areas of the market. We are seeing some new prices for coins that have entered the market after several years of concealment. When this occurs, it may influence the Market price of coins that grade higher as well. A good example will be the 1856 O $20 Gold that is offered by Heritage Auction Galleries in the upcoming Long Beach Sale. This is one of those coins that almost makes no difference how it grades. The 1804 Dollar and 1913 Liberty Nickel are two other examples. This past month we have seen several New Orleans Mint Double Eagles advance, such as the 1859 O in AU 50 & 53, and the 1861 O in AU53. These increases are not restricted to just New Orleans; buyers are looking for any of these rare dates with low populations, like the 1851, which increased to $10,500 Market for MS62 and to $18,250 in MS63.

áááááThis week's HD Wholesale Market Dealer Price Guide shows that earlier U.S. Gold is quite strong. Premiums have inched up a little as demand increases. Common date $20 Liberties have moved higher in grades Very Fine up to MS62, while Saints have advanced in most grades from Fine to MS65. Ten Dollar Gold Liberties and Indians are higher in Very Fine to MS63. Morgan and Peace Dollars are quite active in most Mint State grades, although some are trading at just below Market while others will trade above. It is really a matter of eye appeal and whether there are multiple coins on the market to compare.





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