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NumisMedia E-News Weekly
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$2˝ Gold Rarities in Demand
January 30, 2012
The metals have been strong as we head into Long Beach week. Many dealers from around the country have been in town for a few days scouring local coin shops for deals. One of the hottest items on want lists is the $20 Saint in MS66. Several dealers have large orders to fill so everyone is trying to locate coins to sell to these strong buyers. We are currently showing a Market of $2,750, although a few buyers are willing to pay slightly more. If they have the CAC sticker, even higher premiums are being paid; as much as 25%.
In this weeks' HD Wholesale Market Dealer Price Guide many adjustments have been reported in most series. These are a result of activity in the last month including the FUN Convention. Early Bust Halves are in demand with several trades creating higher Market prices. The 1795 Flowing Hair in MS61 is now at $41,500. The 1807 Heraldic Eagle Half jumped to $24,500 in MS64. The 1823 Broken 3 variety increased in several grades from AU53 to MS66. The MS66 is now up to $35,500 Market. The always popular and difficult to located 1836 Reeded Edge in MS63 moved up to $14,500. This is a very tough coin in any Mint State grade.
Various rare date $2 ˝ Gold Liberties advanced this past month. Common dates do not attract the attention of collectors or investors as do the Twenties, however, the better dates are in demand. The following is a short list of rare dates showing higher Market prices.
1841 C MS62 $22,750
1846 C MS64 $39,250
1848 CAL. MS62 $87,500
1849 C MS65 $70,000
1855 C MS65 $85,000
1859 D MS62 $36,750
Read all of this week's E-News for website updates, E-News exclusive discounts, What's Hot, What's Not, and more. E-News Weekly is available to Dealer Subscribers and Members only.
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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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