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of the United States
Rare Coin Market

Market Activity Increases as Gold Advances

May 2, 2016

     The Central States Convention was anything but typical as Gold advanced closer to the $1,300 mark and dealers reported an increase in bullion related sales. Also keeping dealers busy was the newly released 2016 Gold Mercury Dime, currently trading in the $250-$260 range for coins in the original government packaging. Certified coins have been priced around $290-$300 for the SP69 and as high as $350 for the SP70.

2016 Gold Mercury Dime

Certified 2016 Gold Mercury Dimes have been priced around $290-$300 for the SP69 and as high as $350 for the SP70.

     Another successful Heritage Auctions Sale as the official Central States Convention auction produced several highlights including the 1792 Disme in Silver commanding $998,750; this coin is certified as AU50 by PCGS and is the finest of three known. Another 1792 Disme, this one in Copper, brought $705,000 and it is graded SP64 Brown by PCGS.

     Of the several non-traditional coins sold in this sale, the one that generated the most interest from buyers was the 1776 Continental CURRENCY Dollar; it realized $235,000 and is certified as PCGS MS65. Below are some of the many highlights from this sale.

1793 Liberty Cap Half CentPCGS MS64 BN$108,688
1793 Wreath Cent Vine & BarsPCGS AU55 CAC$37,600
1872 Two-CentPCGS MS66 Red$52,875
1937 D Buffalo Nickel 3-LegNGC MS67$85,188
1794 Half Dime Flowing HairPCGS MS64$28,200
1844 Seated DimePCGS PR65 CAC$38,188
1916 D Mercury DimePCGS MS65 FB$41,125
1828 Bust QuarterPCGS PR65$64,625
1844 Seated QuarterPCGS PR65 CAC$188,000
1916 Standing Liberty QuarterPCGS MS66 FH$48,175
1797 Half Dollar Draped BustPCGS F12$55,813
1807 Draped Bust Half DollarPCGS MS65+ CAC$141,000
1855 Seated DollarNGC PR66$35,250
1884 S Morgan DollarPCGS MS63+ CAC$76,375
1833 $2 ½ GoldPCGS MS66$146,875
1858 $3 GoldPCGS PR65+ Cameo CAC$94,000
1907 $10 Gold Indian Wire RimPCGS MS65$64,625
1908 $10 Gold Indian PCGS PR66+ CAC$73,438
1866 S $20 Gold No MottoPCGS MS61$152,750
1886 $20 GoldNGC AU58$82,250
1915 S $50 Gold Pan Pac OctagonalPCGS MS65 CAC$205,625

     Now that the tax season is behind us, it looks like the coin market is trying to inch forward. There appears to be more activity and sales are slightly higher even though there are still some coins being discounted. In this week’s HD Wholesale Market Dealer Price Guide there are many changes, especially in U.S. Gold. The lower denominations are not quite as strong as $10 Gold and $20 Gold, but if bullion continues to rise, all of the generics will follow. The current market for generics has most of the common dates at extremely favorable premiums compared to historic highs. With the market surging for modern Gold coins with low premiums, Classic common U.S. Gold should continue to see lower premiums as well.

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