Heritage realized $22.4 million in the opening night of their Boston ANA sale from the 638 lots that sold. Combine that with Bowers & Merena at $9.3 million and Stack’s adding another $4.2 million for a whopping $35,000,000 with much more to come. The highest grossing lot from the Aug 11 session was an 1851 Humbert $50 Lettered Edge, No 50 on the reverse, octagonal shaped Slug graded PCGS MS63 that sold for $546,000. A few other notable highlights include a 1944 Walking Liberty Half Dollar graded MS68 by PCGS that received $109,250; a 1916 Standing Liberty Quarter graded PCGS MS67FH CAC for $149,500 and the finest set of Barber Half Dollars that fetched over $2 mil. The overall sentiment felt by many in Boston is that really great coins are once again achieving really great prices.
     Silver Commemoratives undergo a handful of adjustments, all of which are rather modest. An 1893 Columbian Expo graded PCGS MS66, with a CAC bean, sailed to $1,100 in a Boston sale. This exceeds the sight-unseen Bid of $620 by a nautical mile. Greysheet Bid is $900. Perhaps most significantly, $1,100 exceeds the sight-unseen Bid of $1,000 for a PCGS MS66+ example. For the record, sight-unseen Bid at the MS67 plateau is $4,700. A 1923S Monroe Doctrine graded PCGS MS66 with CAC approval sold recently for $3,910 while a sight-unseen offer of $5,500 is present for 66+ graded example. Market participants are privy to a whole new world of opportunities here as the split grade concept becomes commonplace. Gold Commems continue to enjoy Bid support over a wide range of grades and for each coin in the 11-piece set and the $50 Slugs as well. Of the nearly $100K in Gold Commems that we recorded transactions for this past week only one was CAC approved. A 1915S Pan-Pac Gold $1 graded PCGS MS65 CAC sold for $2,300, exceeding sight-unseen Bid of $2,050 for an MS66+ example.
     Well over $500K in Morgan Dollars sold in Boston auctions so far resulting in just a couple of minus signs, an 1896O in NGC plastic and a 1901 in PCGS hardware, both incidentally at the MS62 plateau. Each of the 26 CAC approved Morgans that sold exceeded sight-seen levels, with all but a few lots exceeding Bid by 50 percent or more. To cite a couple CAC transactions, an 1880O PCGS MS65 sold for $35,650 and an 1883 PCGS MS66 sold for $750. Only two minor downward adjustments have been made to Peace Dollars and they remain stable for the most part.
     Mint State Type - Copper, Nickel and Silver – encompassing such a wide range of the market, remains strong, with bourse reports of attractive, problem-free specimens being snatched up in a hurry. Gold Spot is now at $1,215, with three of the last five morning sessions closing over the $1,200 per ounce plateau. Mint State Gold Type has not reflected this most recent move though if Spot remains above the $1,200 level for any length of time, many will find it surprising if at least some of this material does not advance in response. Only $100K in Gold traded this past week through CCE’s big generic market. This is about half of the prior week’s total. Generic Gold Type is slowly becoming more available in + grades through wholesale channels and may give this market a much needed boost.
     Proof Type reflects a few declines; the majority of issues we track have sold for well in advance of sight-unseen Bid. Proof Gold Type, magnificent coins one-and-all did quite well in Boston, easily surpassing sight-unseen levels on both sides of the ledger. The only downturn was recorded from the discounted sale of an NGC $4 Stella graded PR66 Cameo. Buffalo Nickels undergo a few adjustments, the most significant being that adhering to the 1925S in PCGS MS64. Recent auction results reveal that the ever popular 1937D 3-Leg retains its fan base as a PCGS MS65 example trampled its way to $40,250. Mercury Dimes are mostly stable and the series faithful are awaiting the Heritage ANA sale of the #1 all-time Registry Set. Among Proof Singles, a 1936 NGC PR67* Walker realized $16,100 easily retaining its title here.
     Collectors Universe, parent company to PCGS, filed an amended complaint against alleged coin doctors on August 10 in California. It appears that at least one defendant has been dropped from the case with additional allegations filed against remaining defendants.

Reprinted from Issue No. 33 August 13, 2010 of the Certified Coin Dealer Newsletter - the Bluesheet
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