NumisMedia Weekly Market Report
Current News and Analysis of the
United States Rare Coin Market
Legend Auction Attracts Premium Bids
December 19, 2016
Oh, the weather outside is frightful, but the coin market is not so delightful; as we approach the Holidays, the market has not heated up, albeit typical for this time of year. Gold has been falling, currently at $1,137 this morning, Silver is trying to hold above the $16 mark, but has fallen to $15.94, and Platinum is at $913. The premium is strong for one ounce Proof Gold Eagles in OGP, trading at $1,387 among dealers. Silver Eagles are the gift of choice for the Holidays remaining steady at $49-$50. Silver bags of 90% are dropping to $12,045 among dealers and VG+ Silver Dollars are $23,665 per bag of a thousand. Some analysts are expecting the metals to go even lower in the next couple of months. No predictions here as we are waiting to see what happens at FUN.
There may be a lot of bargain-hunting going on in the wholesale market but that does not mean real buyers are not looking for rarities. The latest Legend Rare Coin Auctions, Regency Auction XIX, took place in Las Vegas at the PCGS Members Only show last week. One of the many highlights of this important sale was a set of Buffalo Nickels; many finest knowns and some with spectacular color. Nearly every coin in this set brought a substantial premium above the NumisMedia Market price. Listed below are some other highlights.
1913 Buffalo Nickel Type 2 PCGS PR68 CAC sold for $58,750 at the Legend Rare Coin Auctions Regency Auction XIX in Las Vegas, Nevada, December 15, 2016
|1798 Draped Bust Large Cent|
2nd Hair Style
|PCGS MS64 BN CAC||$20,563|
|1914 D Lincoln Cent||PCGS MS66 RB CAC||$30,550|
|1922 No D Lincoln Cent Strong Reverse||PCGS MS64 BN CAC||$38,775|
|1867 Three Cent Silver||PCGS MS65 CAC||$13,513|
|1913 Buffalo Nickel TI||PCGS MS68 CAC||$28,200|
|1914 D Buffalo Nickel||PCGS MS67||$18,213|
|1918 S Buffalo Nickel||PCGS MS65+ CAC||$29,375|
|1853 Seated Half Dime No Arrows||PCGS MS68||$27,025|
|1797 Draped Bust Dime 16 Stars||PCGS AU58 CAC||$24,675|
|1853 Seated Dime No Arrows||PCGS MS68||$25,850|
|1896 O Barber Dime||PCGS MS66+ CAC||$20,563|
|1898 O Barber Dime||PCGS MS67+ CAC||$36,425|
|1931 S Mercury Dime||PCGS MS67 FB CAC||$27,025|
|1805 Draped Bust Quarter||PCGS MS64+ CAC||$52,875|
|1896 Barber Quarter||PCGS PR69 DCAM||$41,125|
|1820/19 Bust Half||PCGS MS65||$32,900|
|1836 Bust Half Lettered Edge||PCGS MS66+ CAC||$47,000|
|1838 Bust Half Reeded Edge||PCGS MS66||$45,825|
|1857 Seated Dollar||PCGS MS65 CAC||$73,438|
|1870 Seated Dollar||PCGS MS65+ CAC||$61,688|
|1879 CC Morgan Dollar Cap Die||PCGS MS65 CAC||$38,775|
|1899 $2 ˝ Gold||PCGS PR66+ DCAM CAC||$34,075|
|1872 $3 Gold||PCGS MS64 CAC||$29,375|
|1863 $5 Gold||PCGS MS61||$58,750|
|1929 $5 Gold Indian||PCGS MS64 CAC||$52,875|
|1863 $20 Gold||PCGS AU58 CAC||$30,550|
The results from the Legend Auction show that there is plenty of money being spent on rare coins if the quality warrants. However, there are still plenty of nice coins that are being offered at discounts as dealers are raising cash reserves for the upcoming FUN Show. In this week’s HD Wholesale Market Dealer Price Guide there is a long list of declining prices for Proof Barber Halves as sellers are attempting to move some inventory. Many of the lower prices are within the PR63 through PR67 grades, although there are buyers at the lower levels which could be a sign that we are nearing the bottom of the current downturn.
Sellers are currently outnumbering buyers in the Morgan Dollar market and there are decreasing prices in all grades from AU50 to MS66. Dealers are looking to move old inventory while buyers are being rather selective and want brilliant coins at their buy prices.
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