Reports that live Silver bullion remains in short supply and available only at considerably high premiums may increase interest for acquiring Silver Dollars. Common date Morgan Dollars are hot in MS66 and MS67. Buyers are looking for quantities at these new higher sight-unseen levels, regardless of what the coin looks like. See the chart below for some examples. While Bids are higher for generics in MS66-MS67, they dropped a smidgen in PCGS MS63, with active trading remaining upbeat overall. 1885 Morgan Dollars grading MS67 are being targeted at higher levels with buyers now offering $975 and $800 for PCGS and NGC, respectively. To date 90 have been certified at this grade level by PCGS with two higher, while NGC has slabbed 188 with five finer. Greater call for generic Peace Dollars in MS64 and MS65 may suggest that there’s renewed awareness of just how acute the shortage of Silver bullion products may be in terms of their availability in collectible form.

     Walking Liberty Halves were the sensation this week, as sight-unseen Bids for all first issue year examples in Choice and Very Choice, as well as for 1917 Philly-Mint issues in the same grades and, especially, in Gem, are advancing rather significantly due to increased interest. Demand is up as well for more than a few other early but subsequently dated Walkers, mostly in MS64. Semi-key 1918-D Halves in this grade are up by at least $300 to Bid at an even $4,000 now, and the fact that there simply are not enough 1923-S and 1928-S issues in MS65 for all who want them has these Walkers commanding an average of 21% more since last week. There’s also widespread recovery occurring among the many late-date common issues in MS64 through MS66.

     For enthusiasts of obsolete denomination Type, Heritage will feature some important and seldom seen material during its auction in Long Beach next month which includes an example of the Proof-only final year issue 1873 Three Cent Silver Piece. This particular example is graded PCGS PR66, originally toned, and CAC approved. A very scarce 1887 Three Cent Nickel, graded PCGS MS66 CAC, will be featured as well – a coin with an original business-strike mintage of just 5,001 and a combined pop of 13 with only one finer. Liberty Seated Dimes With Legend in PCGS MS67 had a better than satisfactory week in the sight-unseen market, gaining $200. Early Buffalo Nickels in Gem are demonstrating strong retail results in on-line auction venues. A 1913-S Type 2 Buff in NGC MS65 sold through Teletrade last weekend with a $3,220 final offer, while a pleasingly rainbow toned 1924 issue in PCGS MS66 sold during the same session for $1,840. Final issue year 1938-D Buffs in MS67 seem to be getting harder to pass up. Common date Mercury Dimes in MS67FB are needed at moderately higher offers, and market-makers will take them certified by either service.

     Market participants competing for Silver Commems showed no hesitation in offering at least current Bid for whatever issues they sought to acquire, although some Elgin Halves in PCGS MS66 were reported as achieving realizations at auction that were considerably short of what several sight-unseen buyers were offering for them. The real blood was spilt amongst the Gold Commems this week, however, especially those in NGC plastic. Other than the 1903 Jefferson, Pan-Pac, and Grant with Star, there was hardly a Gold Dollar which evaded the wave of discounting. 1905 Lewis & Clark Gold Dollars in NGC MS65 were among the hardest hit, incurring a loss of $700, and $2½ Sesquicentennials in PCGS MS65 were tossed into the $25 off bargain bin for the second straight week. Type I Gold Dollars in PCGS MS65 have been moderately but persistently declining over the past five weeks, losing $175 over that time period to settle at an even $3,000. However, along with the most common $20 Saints in MS67, these are the only Gold Type issues in Gem or better to wane this week amidst the continuing stagnation in the Gold Spot market. Some extraordinary and scarce Gold Type material will highlight the Pre-Long Beach auction featured by the Goldbergs in Los Angeles, including an 1839-O $2½ Classic Head graded NGC MS65, a 1906 $2½ Liberty graded NGC MS68, and an astounding 1869 $5 Liberty, one of only 25 examples minted, graded NGC PR65 Cameo.

     Type I Gold Dollars in PCGS MS65 have been moderately but persistently declining over the past five weeks, losing $175 over that time period to settle at an even $3,000. However, along with the most common $20 Saints in MS67, these are the only Gold Type issues in Gem or better to wane this week amidst the continuing stagnation in the Gold Spot market. Some extraordinary and scarce Gold Type material will highlight the Pre-Long Beach auction featured by the Goldbergs in Los Angeles, including an 1839-O $2½ Classic Head graded NGC MS65, a 1906 $2½ Liberty graded NGC MS68, and an astounding 1869 $5 Liberty, one of only 25 examples minted, graded NGC PR65 Cameo.

Reprinted from Issue No. 19 May 10, 2013 of the Certified Coin Dealer Newsletter - the Bluesheet
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