Editors Message (CPG Market Review Summer 2023)

Over the past four to five months the coin collector market has been buoyed by modern precious metals products and the gold and silver spot prices have reached records highs, only to back off of them slightly. This is the normal pattern of precious metals prices, and it has generated much activity for dealers. There is no reason to think this will not continue through the rest of the year, as the unpredictability of the direction of the U.S. dollar and lending rates drives people out of cash. The good news is that premiums on most bullion products have stabilized, although the most popular product, American Silver Eagles, still have a higher premium than most other sovereign silver bullion coins. In generic gold, Liberty Head and Saint-Gaudens double eagles in the circulated grades are now available for very little over their intrinsic value. This is a great and sometimes overlooked way to own gold bullion.

An important part of our editorial process is to periodically evaluate our printed publications, including this CPG® Market Review, and ask the question “can it be better?” While incremental improvement is something we work at constantly, there are other times where the modifications are more obvious to the end user. This issue contains such improvements, in our effort to bring more information to the hands of coin collectors. Starting on page 91, we have added MS70 and PR70 prices to all denominations of Gold Eagles and Platinum Eagles. While we have always maintained these prices online, placing them in print provides greater access to all. Moving into the currency section, we have added two lengthy series: Large Size Federal Reserve Bank Notes and Large Size Federal Reserve Notes. Starting on page 104, these series can now be found along with all other Large Size series.

The Federal Reserve Bank Notes were issued in 1915 and 1918 in $1, $2, $5, $10, and $20 denominations, along with a single $50 variety. Federal Reserve Notes were issued in 1914 and 1918 in $5, $10, $20, $50, $100, $500, and $1,000 denominations. They were issued with both red and blue Treasury seals and, like the Federal Reserve Bank Notes, from all Federal Reserve districts. As a reminder, we maintain an entire suite of CPG® pricing for most all areas of United States Paper money that is available at our online price guide and app. Also, this month we bring you two feature articles as opposed to one, each with a very different focus. Our first article provides some very valuable insight on tax perspectives for coin collectors and investors. A very overlooked area of collecting in general, taxes are in important factor in collection management and can influence buying and selling decisions. The second piece is a review and analysis of the recent Legend Rare Coin Auctions sale that was held during the Central States coin show. The article shows that beyond doubt that the appetite for quality vintage United States rare coins is still very much there. As we’ve stated in the past, collectors of all levels can learn from looking at auction catalogs and sales results, as they provide insight on grading, eye appeal, and market dynamics.