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NumisMedia E-News Weekly
E-newsletter provided for Dealer Subscribers and Members of NumisMedia.
Retail Activity Brings Excitement to Market
March 8, 2010
The Baltimore Coin Expo was a rousing success. Most dealers reported having their best retail show in a long time. In fact, some even said this was the best Baltimore show ever. Key date coins seemed to be one of the primary attractions as collectors were looking for some place to put their money for safekeeping. Dealers catering to the public were not disappointed. Lincoln Cents, Liberty Nickels, Standing Liberty Quarters and Walkers led the way. High-grade circulated better date coins were easy sellers and nearly everybody seemed happy with sales.
Bullion coins were also of major interest at the show. The metals were steady to higher last week, which makes it more appealing to the public. Along with Modern Gold Eagles and Buffalo Gold, it looks like early generic tens and twenties were very popular. In this week’s HD Wholesale Market Dealer Price Guide, hundreds of increases have been noted due to increased demand. Most all the common gold in $5, $10, and $20 advanced in low circulated grades up to MS62. However, some of the MS65 issues did retreat slightly as most buyers concentrated on lower premium coins.
GSA Carson City Dollars are very active with multiple buyers at current Market prices. Registry collectors are looking for the highest grades of each date and are willing to pay in excess of reported Market prices. It seems like a new price record is established every time one of the MS67 coins comes into the Market. This show presented an opportunity for some lucky collector to purchase an 1885 CC in NGC MS67 at well over $35,000. The common NGC GSA MS65’s have adjusted down slightly but remain in demand because of the lower Market prices. The 1882 CC is now at $420 in NGC MS65 and the 1883 & 1884 CC are at $370.
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Archived Favorite - A past article from the NumisMedia Archives
The Coin Guys - Bubba and Zemo
An educational yet entertaining look at the world of numismatics.
The New 50 State Quarter Program
First run March 22, 1999
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Zemo:
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Well, we're underway with the new quarter reverses, and while they're not always being touted as such, they ARE actually COMMEMORATIVE coins. Each state will be honored by their reverse design in the order in which they ratified the Constitution or were admitted into the Union.
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Bubba:
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The first state to do so, Delaware, has had its coins in circulation since early January.
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Zemo:
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The reverse depicts CAESAR RODNEY, a signer of the Declaration of Independence, on horseback, ostensibly on his way to Philadelphia to tell the Continental Congress "Yep, Delaware has voted to accept the Constitution, and to sign that important document.
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Bubba:
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Incidentally, you know what kind of horse Caesar is riding, don't you?
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Zemo:
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It's a QUARTER horse, of course!
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Bubba:
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We saw the first of the second state's coinage (Pennsylvania) at the Sacramento ANA in mid-March.
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Zemo:
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The reverse of this coin has a draped female (Liberty?), superimposed over an outline of the state, with a keystone, for the keystone state, Bubba, it's NOT a CHURCH KEY! in the upper left corner, just about over Meadville. In both of the last two issues, the Denver strikes appear to be "cleaner", with more detail.
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Bubba:
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What about the other three reverses for this year?
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Zemo:
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The remaining three will be released in June (New Jersey), August (Georgia) - sit DOWN, Bubba, and stop singin' "Dixie"!, and in November (Connecticut). Five states, again in order of joining the Union, will be issued each year until Oklahoma, New Mexico, Arizona, Alaska and Hawaii have their turn in 2008.
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Bubba:
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These 50 coins will certainly be collectible, but will they be valuable in the future?
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Zemo:
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Plans are to mint several hundred million of each, so they certainly won't be rare. Like the Bicentennial coinage in 1976, they'll be saved, primarily because of the novelty of the new designs, but also like the Bicentennial quarter, half dollar and dollar, I don't feel they'll ever be worth much over face value. The mint will also be producing some in clad and silver Proofs, so depending upon the mintage of these, some could command premiums over the issue price down the road.
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Bubba:
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How about errors and varieties on these commemorative quarters?
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Zemo:
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Taking the latter category first, I suspect there will be few significant die varieties on these due to the new die production methods and the (supposedly) closer inspection by the mint of the production dies. If a major variety SHOULD occur on any of the 50 designs, it would be highly collectible, and, depending upon the type of variety, it COULD command significant premiums.
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Bubba:
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ERRORS are another matter, right?
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Zemo:
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There is already a frantic demand for mint errors on the first two issues, the more dramatic, the better. One major error dealer told me he has a standing order from one of his customers for ANY major error that comes along. Few have been found to date on the Delaware issues, and I haven't heard of any yet on those from Pennsylvania. I feel errors on the 50-state coins will always be very much in demand, similar to those on the aforementioned one-year Bicentennial series.
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Bubba:
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Can you imagine a major error on all 50 coins?! What an incredible exhibit in the year 2008!
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