Bluesheet: GOLD MERCS SELLOUT IN 45 MINUTES, BIDDING OPEN FOR HUGE HERITAGE CSNS SALE
The U.S. Mint released the first of three coins in a new series of centennial gold releases last week – a gold Mercury dime. Struck in 1/10 ounce 0.9999 pure (24-
The U.S. Mint released the first of three coins in a new series of centennial gold releases last week – a gold Mercury dime. Struck in 1/10 ounce 0.9999 pure (24-karat) gold with a 10-cent denomination, the coin sold out in less than 45 minutes. According to a few lucky buyers we spoke to, the Mint web site crashed repeatedly in the first hour making ordering difficult, but doable. We expect that many of the buyers maxed out on their 10-coin limit to take advantage of the low mintage of 125,000 coins. Given the low price point of $205, Andrew Salzberg, president of Modern Coin Mart feels that “there is good potential for this issue to run in the secondary market, especially for the early releases that grade 70.” According to the official U.S. Mint web site, 2016 will see the additional release of a gold Standing Liberty Quarter, and Walking Liberty Half Dollar – all three coins issued to commemorative their 100-year anniversary.
HERITAGE HOLDS HUGE AUCTION IN CONJUNCTION WITH CENTRAL STATES
Heritage Auctions is holding a major sale this week in conjunction with the Central States Numismatic Society convention, in Schaumburg, IL. The sale features over 5,600 lots and will certainly be a further indicator of the current market for certified U.S. coins. Breaking down the numbers by category and type provides a look at what segments are the most heavily collected and traded in the rare coin market. Not surprisingly, silver dollars lead the way, with an astounding 1,027 lots of Morgan dollars to be sold. 347 of these Morgans have CAC approval, approximately one-third of the total. There are 728 lots of half dollars and 423 lots of quarters. It is interesting to observe that each subsequent lower coin denomination features a smaller number of lots. In gold, there are 409 lots of double eagles, sure to be well-received with the recent increases in the gold spot price. It is not widely known that these $20 gold pieces can be bought at auction for a relatively low premium over the intrinsic value in many cases. Finally, there are 275 classic gold and silver commemoratives in the sale. Led by high grade and proof gold dollar commems, the silver coins are led by an MS67+ Panama-Pacific half and an MS68 1926-S Oregon Trail.
Source: CDN Publishing