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COIN MARKET INSIDER's REPORT takes the pulse of the numismatic marketplace and talks about the buys, the sells, and the trades that all collectors and investors are interested in.
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COIN MARKET INSIDER'S REPORT is the award-winning column that has run in COINage Magazine monthly since 1974. Its author is David L. Ganz, a New York City lawyer, who for more than 35 years has covered the numismatic marketplace. Besides practicing law, he is a past present of The American Numismatic Association, and served for a dozen years as general counsel to the Professional Numismatists Guild. Appointed by President Nixon to the 1974 Annual Assay Commission, he served (1993-1996) as a Clinton appointee on the Citizens Commemorative Coin Advisory Committee. His latest book, "The Official Guide to America's State Quarters" is a Random House mass market paperback, due out this fall.
The column began with a premise that it could report, telegraph style, about what was going on in the numismatic marketplace and talk about the buys, the sells, and the trades that investors and collectors are interested in. It now includes the internet, and http:// addresses you can hyperlink to, easily. This is an expanded version of the column as it appears in COINage Magazine. The author can be reached at: davidlganz@ganzhollinger.com.
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Insider's Report
February 2002
by David L. Ganz
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Market news from the auction field is a good start for the year.... Stack's Jan. 15 Americana Sale realized $7.3 million... The Hain Family collection of Massachusetts silver realized $2.5 million... Selected prices realized: $172,500 for a NE Shilling in EF (Noe II-A), $207,000 for an EF willow shilling (Noe 2-A), and $46,000 for an uncirculated Pine Tree shilling (AU, Noe 4 variety..... www.stacks.com
Other interesting prices: $35,650 for an undated (1737) Higley copper (Crosby 24), $43,700 for an XF 1787 New York Standing Indian (Eagle on Copper globe),... $10,350 for a 1797 Fugio cent in unc (Newman variety 11-A).... New price record: silver cent Norweb specimen in BU) went for $414,000.... An 1877 Indian head cent in choice b.u. realized $3,220....
Paper money in the sale included: an XF $2 educational note (silver certificate series 1896) at $1,840.... a sheet of $5 New Jersey Metuchen National Bank at $8,050....
Heritage's combined FUN auction sales totaled $13.3 million Jan. 10-13 in Orlando.... Three sales were involved including a regular sale, an Internet sale and a currency auction... Prices included a 1794 silver dollar in XF-40 at $86,250... an 1870-CC $20 in XF-45 at $97,750.... an 1856-O double eagle in MS-64 at $310,500.... an S.S. Central America ingot with 55.05 oz marking at $86,250.... www.heritagecoin.com
Bowers & Merena's sale held Jan. 8 in Orlando, pre-FUN, realized $3.1 million... An 1848 CAL $2.50 gold piece, MS-64, brought $80,500... a 1796 quarter, MS-63 went for $54,050... a proof-66 Liberty standing 1873 dollar realized $46,000.... an 1852 slug $50 from the U.S. Assay Office (MS-62) brought $29,900.... www.bowersandmerena.com
The Professional Numismatists Guild (PNG) has adopted a "Collector's Bill of Rights," a ten-point pledge of consumer protection and education.... Among them: Not misrepresent rarity, value or quality of items sold.... Not use high-pressure sales tactics.... Not misrepresent the investment potential of items being sold.... www.pngdealers.com
United States Postal Service inspectors are investigating missing registered-mail parcels, including four from the American Numismatic Association.... www.usps.gov The American Numismatic Society announces that its highest sculptor's award, named after J. Sanford Saltus Award, goes for 2002 presented to Toivo Jaatinen... www.amnumsoc.org The Stephen K. Scher Lecture will be given at the ANS by Richard Stone, Conservator, Sherman Fairchild Center for Objects Conservation at the Metropolitan Museum of Art), entitled "The Renaissance Cast Medal: Technology and Appearance" ..... The date: February 9, 2002 at 3:00 p.m...
ANS and The New York Federal Reserve have opened a major display on Liberty Street in Manhattan... The site was opened by Fed Chairman Alan Greenspan at mid-month... Hundreds of rarities are in a 5,000 square foot display.... www.ny.frb.org
Littleton's is now offering a coin box system for storage... Lindner's premium quality stackable Coin Box system is what they recommend.... The Lindner system will fit in any bookshelf or cupboard, and can be expanded.... Each box is available in different compartment sizes and lined with rich velour to cushion your coins..... Outside measurements for all boxes are: 3/4" high by 9 5/16" wide and 11 15/16" deep..... www.littletoncoin.com
500 years of British gold coinage will glitter in a spectacular exhibit at the ANA Money Museum in Colorado Springs, Colorado, February 8 to April 26, 2002.... "Una and the Lion: British Gold Coins through the Ages" fills the lower galleries of the Money Museum at 818 North Cascade Avenue,... Shown: British gold coins dating from 1344... selected material never before allowed outside the Royal Mint... nearly 700 years of English coronation medals.... www.money.org
A unique Wyoming $5 National note purchased for $50,000 by collector and sports agent Dwight Manley will be offered for sale at the Lyn Knight Currency Auctions session, March 2, during the Chicago Paper Money Expo, February 28 - March 3... It is the only known surviving Territory of Wyoming bank note from the First National Bank of Douglas, Charter #3556, and only the second known serial number 1 "brown back" Wyoming territorial note.... Manley acquired it from the great-granddaughter of the note's first known owner, George Montgomery "Monte" Blue (1890 - 1963)... He was a veteran actor who appeared in nearly 250 films and Westerns beginning in 1915 with the silent screen classic, "Birth of a Nation" .....Lyn Knight Currency Auctions is a division of publicly-held Collectors Universe (NASDAQ: CLCT.... www.lynknight.com
The Security Room at the ANA National Money Show in Jacksonville, Florida, March 7-9, will remain open until 2 p.m. on Sunday, June 10.... Traveling there? For the convention discount, contact M&M World Travel Service at 800-426-8326.....
Kentucky state quarter production: 353 million (P) mint... 370 million (D) mint....the lowest since Pennsylvania.... The United States Mint is now selling the 2001 Kentucky Official First Day Coin Cover.... This limited edition cover-only 75,000 will be produced... Each cover includes quarters from both the Philadelphia and Denver mint facilities on a handsome display card with the 34-cent Statue of Liberty postage stamp.... The postmark of October 15, 2001, Frankfort, Kentucky, marks the day the Kentucky quarters were first released to the Federal Reserve Bank and to the public.... Price: $ 19.95.... www.usmint.gov
Salt Lake Olympic commemoratives are available from the Mint... the best buys are uncirculated $5 gold piece ($225) and uncirculated $1 ($32).... Designs for this year's state quarter coins has been finalized...Tennessee and Louisiana have musical themes... Ohio is aviation... Indiana is crossroads of America at its speedway... Mississippi is its nickname, the Magnolia State... The Euro is now in circulation throughout Western Europe....
U.S. Mint director Henrietta Fore has mandated that the Mint's senior executive staff will meet with collectors, dealers, young collectors and the public... The first date is March 9 in Jacksonville... The second time will be August 1, 2002 at New York City... Both events coincide with ANA conventions... The aim is to provide an "open and direct exchange" between the Mint and its constituents....
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David L. Ganz
