As we write this article the Central States Numismatic Society Convention is underway in the Chicago area. This show toes the line between national show and large regional show, and the main draw is the large Heritage auctions of U.S coins, U.S. paper money, and world paper money. All together these sales consist of nearly 9,700 lots. The coin highlights will be sold during the Heritage Platinum Night session, and nearly 20% of that session are pieces from the Siegel Collection of silver dollars. This collection is a broad selection of our nation’s largest silver coin, from its earliest iteration through to the penultimate year of production. Noteworthy silver dollars include a PCGS AU55 1795, an 1839 Gobrecht certified NGC PR64, a NGC MS67 1878-CC, a 1922 Matte Proof High Relief Peace dollar, and a host of patters from the early stages of Morgan dollar production. Another special mention goes to a very appealing 1881 Trade dollar graded NGC PR68* Cameo.
THIS WEEK’S MARKET
Capped Bust Halves:
There is certainly tremendous demand for mint state coins of this type, especially MS63 and MS64 examples. In the circulated grades buyers are very picky and some coins have been found wanting at auction when they are not “all there.”
The better dates of this series have performed very well over the past year, helped by some significant offerings at auction.
Three Dollar Gold:
Mixed price movement marks this series, with most of the softness in the circulated grades. This mirrors a trend in the overall market in that those who are actively buying have the means to buy top grade material and tend to pass on circulated coins.
20th Century Gold:
These four series continue to be a challenge to price. The spreads between CAC and non-CAC coins has widened and we sense a rather large shift is coming as to how these coins are traded going forward.
Much activity in this series, and much of it positive for coins in the MS63 and MS64 grades. The early lower mintage dates in Extra Fine and About UNC show weakness, although properly graded coins will bring a premium in today’s market.
We have fully reviewed this series and in addition have added complete pricing for the grades MS66 Full Bands and MS67 Full Bands. Many coins trade at these grade levels and it only made sense to add these long needed prices. There is a good amount of positive activity at the MS64FB grade level here as well.
Mint state coins in this series are still looking for a bottom and appear to be a value play.
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