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Current News and Analysis
of the United States
Rare Coin Market

Gold Holding Around the $1,230 Mark

November 5, 2018

     Gold in this morning’s trading is at $1,230.50, Silver is at $14.62. In the last week Gold has been able to withstand any downward pressure; when it has dropped below $1,230, it has bounced back. Dealers are hopeful that this is the new base and prices of all the metals will establish some upward momentum. Analysts are waiting for the outcome of the elections to signal the next major move. Teletype business continues to be dominated by bullion related coins with Eagles capturing most of the buy/sell activity. Proof Gold Eagles are now wholesaling at $1,270 per ounce in OGP. Proof Silver Eagles are right at $36 each.

     The latest Stack’s Bowers Galleries Auction, held in conjunction with the Whitman Baltimore Expo, included many rare by date and rare by grade coins. The 1878 S Seated Half Dollar has an original mintage of just 12,000 and is rare in all grades; there are only 22 coins certified in the circulated grades of G4 through AU58 and another 19 coins in all Mint State grades. The one in this sale was a PCGS F15 and it brought $42,000.

1878 S Seated Half Dollar PCGS F15

1878 S Seated Half Dollar PCGS F15 sold for $42,000 at the Stack’s Bowers Galleries Rarities Night Auction in Baltimore, Maryland, October 25, 2018

     Registry collectors had an opportunity to acquire an 1887 S Morgan Dollar in PCGS MS66+ CAC which sold for $58,800. This date is readily available in MS65 and below, but in MS66 there are just 37 coins certified with only 4 coins that have the + designation. With the added CAC approval, a strong premium was required to obtain this rarity. Below are some of the other highlights from the Stack’s Bowers Auction.

1887 S Morgan Dollar PCGS MS66+ CAC

1887 S Morgan Dollar PCGS MS66+ CAC sold for $58,800 at the Stack’s Bowers Galleries Rarities Night Auction in Baltimore, Maryland, October 25, 2018

Date/DenominationGradePrice Realized
1917 Lincoln Cent Doubled Die ObversePCGS MS67 RD$84,000
1872 Two CentPCGS MS65 RD$20,400
1910 Liberty NickelPCGS PR68 Cameo CAC$45,600
1913 Buffalo Nickel TIIPCGS PR68$30,000
1800 Half Dime Draped BustNGC MS65$33,600
1921 S Walking Liberty HalfPCGS MS64$45,600
1839 Gobrecht Dollar Reeded EdgePCGS PR64$54,000
1892 S Morgan DollarPCGS MS61$48,000
1927 D Peace DollarPCGS MS66$21,600
1879 $3 GoldNGC PR65 UCAM$39,600
1813 $5 Gold Capped BustPCGS MS64+ CAC$55,200
1907 S $10 Gold PCGS MS66+ CAC$96,000
1871 CC $20 GoldPCGS XF40$40,800
1891 $20 GoldNGC PR66+ UCAM$192,000

     Activity in this week’s LD Wholesale Market Dealer Price Guide is dominated by declines with scattered increases. Typically a collector favorite, many Early Lincoln Cents are trending downward. Buyers are currently looking for discounted coins, yet they still need to be nice for the grade. It is important to note that coins are trading if priced near current levels. Better date coins are in demand especially if there is a large jump of price in the next higher grade.

     The 1910 S in MS66 Red is down to $1,500 Market, which seems like a bargain compared to the MS67 value of $21,500. The 1915 S MS65 Red is lower at $5,425, while the MS66 is currently at $19,250; this date has only 11 coins certified in MS66 Red with none higher.

     Another date with a large spread between grades is the 1925 D MS65 Red which declined to $3,050, but the MS66 value is currently at $35,000. There are only 4 coins certified in MS66 Red, so Registry collectors need to be very competitive when trying to locate this highest grade.

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