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Ship of Gold Arrives at Long Beach

February 12, 2018

     The upcoming Long Beach Expo will feature an exhibit of Gold coins from the S.S. Central America. This steamship, now known as the “Ship of Gold”, was lost off the coast of the Carolinas in 1857 and contained tons of U.S. Gold coins along with ingots and gold dust. PCGS is grading over 3,100 Gold coins from this treasure trove and many of these rarities will be on display. The value of the exhibited portion of the salvage operation has been insured for $40 million, and there is still much more to come.

1857 S Double Eagle recovered from the S.S. Central America will be on display at the Long Beach Expo

This rainbow toned 1857 S Double Eagle recovered from the S.S. Central America will be on display at the Long Beach Expo February 22-24, 2017

     A year ago just prior to the Long Beach Expo, Gold was at the $1,240 mark; this year it is up $75, at $1,325. While premiums have been weak, it appears that they are fairly steady. Last year MS60 Saints were at $1,240 Market compared to this year at$1,310. Twenty Dollar Liberties were also at $1,240 in MS60 and today they are at $1,300. But the weaknesses in premiums are the most painfully obvious in the MS65 issues. Last year the MS65 Saint Gaudens was $1,570 Market and this year it is currently at $1,580. The Twenty Dollar Liberty in MS65 was $2,700 and now it is $2,425.

     This week there are numerous declines in the Barber Halves chart, particularly in the collector grades of XF40 through AU58. These grades almost always have buyers but bargain hunting is the current trend. The 1895 in AU55 is down to $420 Market and the 1908 O in AU58 has fallen to $475. There are over 40 other declines within these grades.

     Rare date Walking Liberty Halves are currently a tough find at reasonable levels. Walkers prior to 1929 with a mint mark, and in a high grade with a low pop, are on want lists. This week the 1921 in MS65 is higher at $20,250 Market and the 1921 D in MS63 is up to $12,000. Some of the later dates have adjusted downward as sellers have been discounting excess inventory. The 1937 S in MS65 is lower at $400 and the 1939 S in MS67 is down to $1,150.

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