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NumisMedia Weekly

Current News and Analysis
of the United States
Rare Coin Market

Birch Cent Brings $1,175,000 at Baltimore Sale

March 30, 2015

     Gold made a strong run last week to the $1,200 mark taking the other metals along for the ride. But this week may be another story as Gold has opened more than ten dollars down in morning trading. Gold is currently at $1,186 with Silver down to $16.78. The Teletypes are showing buyers for ninety percent Silver bags at $12,825 and VG Silver Dollars at $24,675. One ounce Proof Gold Eagles are trading at $1,346 in OGP while Proof Silver Eagles are $45. Make sure you check current prices of specific metals before confirming purchases as volatility is a strong possibility in this market.

     With weather improving in the Baltimore area, the Whitman Expo showed positive signs with better than expected attendance. Most dealers felt wholesale was decent and retail sales were simply a bonus. There is a lot of interest in properly graded Walkers especially in the XF to AU grades for 1916 through 1933. The same can be said for Standing Liberty Quarters as buyers are looking for the tough Mint Marked dates from 1916 to 1924.

     The Stack’s Bowers Galleries official auction contained some thrilling highlights including the 1792 Birch Cent, also known as the “First American Cent”. This coin is certified by PCGS as AU58 and also has CAC approval; it brought $1,175,000. The following list of highlights shows some aggressive buying for various rarities.

1884 S Morgan Dollar MS63+ PCGS CAC

1792 Birch Cent AU58 PCGS CAC sold for $1,175,000 in the Stack’s Bowers Galleries Auction at the Whitman Expo in Baltimore, Maryland, March 26-29, 2015

1799 Large CentPCGS VF30 CAC$32,900
1856 Flying Eagle CentNGC PR65$28,200
1909 S VDB Lincoln CentPCGS MS66 Red CAC$12,338
1795 Flowing Hair Half DimePCGS MS65 CAC$58,750
1846 Seated Half DollarNGC PR63$14,100
1884 S Morgan DollarPCGS MS63+ CAC$99,875
1889 CC Morgan DollarPCGS MS62 P/L$35,250
1929 $5 Gold IndianPCGS MS64$49,938
1885 CC $20 GoldPCGS MS62$61,688
1891 CC $20 GoldPCGS MS61$41,125

     The majority of changes in this week’s HD Wholesale Market Dealer Price Guide occur in the U.S. Gold charts. $1 Gold and $2 ½ Gold coins are mostly steady to higher in all grades, although the MS65 & MS66 $2 ½’s are down with common dates at $1,130 and $1,280, respectively.

     Several Bust $5 Gold coins advanced as buyers are looking for eye appealing coins in various grades. The 1798 with Large 8, 13 Stars is higher in MS60 at $23,500 Market and the 1806 Round Top 6 is up in multiple grades with the MS63 now at $27,500. The extremely elusive AU55 & AU58 1861 D $5 Gold also advanced to $43,500 and $48,500. There are only 30 coins total certified in these two grades with only 15 in all Mint State grades; MS64 is the highest certified.

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