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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

Slow Market Beginning to Bounce Back

September 26, 2016

     Many dealers have reported slow sales over the last few weeks following the ANA Show, the Long Beach Expo, and some notable auctions. This is typical after major events as dealers are handling purchased coins for clients and sorting new inventory. However, the last few days have seemingly revitalized the market with the metals on the rise. There has been an increase in trading activity on the teletypes with more consummated deals. The public seems to be showing more interest in buying bullion as we get closer to the Presidential election.

     Gold is up over $20 from recent lows and trading levels for Proof one ounce Gold Eagles have climbed back up to $1,505, as long as it is in the OGP. Proof Silver Eagles had slipped to $47 but are now wholesaling at $49 each. Bags of 90% Silver are trading at $13,950 and VG Silver Dollars are $24,350. Premiums are very tight for older generic U.S. Gold as these coins compete for sales with modern minted Gold coins. It is quite unbelievable that the wholesale spread between an XF $20 Gold Liberty and an MS60 is only $35. This makes you wonder why more buyers aren’t spending a little more for the higher quality coins.

     Legend Rare Coin Auctions is hosting their Regency Auction XVIII this week in Las Vegas. Their specialty sales are designed for the advanced collector and investor and always contain some tremendous rarities. This sale is no different with a superb collection of toned Morgan Dollars that will surely attract some spirited bidding. Included in this sale is an 1889 CC in PCGS MS64 and an 1893 CC in the same grade; these are two Morgan Dollars not often seen in such high grades. The Early Type coins in this sale should set the standard in their new homes. We will report highlights for this special sale next week.

1889 CC Morgan Dollar PCGS MS64

1889 CC Morgan Dollar PCGS MS64 is available at the Legend Rare Coin Auctions Regency Auction XVIII in Las Vegas, Nevada, September 29, 2016

     In this week’s HD Wholesale Market Dealer Price Guide it is business as usual with lots of declines, mostly due to dealer discounting in an effort to raise cash reserves. However, unlike previous weeks, we are finding many new advances throughout the charts. Bust Halves and Walkers are leading the way as dealers and collectors are looking for specific dates by grade. Several Bust Halves in MS63 and higher grades have increased with buyers seeking the better rarities in quality grades. The 1809 in MS64 is higher at $7,950 Market and the 1814 in the same grade is now $5,850.

     In the Walking Liberty Half Dollar series, which has a strong collector base, the better early dates in MS64 and higher are showing strength. Keep in mind that these advances are for properly graded coins with better than average eye appeal. Coins that are weakly struck will not command these prices. The 1917 S Reverse in MS65 has increased to $10,650 Market and the 1920 D in MS64 is higher at $6,875. When any of these early better dates have the + designation or the CAC sticker, they tend to attract the advanced collectors.

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