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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

January 12, 2009

FUN Active, Prices Mixed

     Reports are in from the just concluded FUN Show in Florida and even though attendance and activity were solid for most dealers, prices appeared to be mixed to lower overall. There are new levels to report for several series with prices adjusting both up and down, although the declines are more prevalent.

     Although many of them were being discounted, expensive rare coins were selling. One specific example, the 1879 Flowing Hair $4 Gold, fell in PR63 to PR66. The Wholesale Market dropped about 10% for these grades. In this week’s HD Wholesale Market Dealer Price Guide, prices for Deep Mirror Prooflike Morgan Dollars are showing numerous declines because the top collectors for this series have become sellers rather than buyers. There were several buying opportunities for new collectors to participate at discounted levels. For example, in the August ANA Sale, Heritage sold a 1904 MS64 DMPL at $54,625; a Heritage FUN Sale example, graded MS65, sold for exactly the same price. In August, there were several dealers supporting this market, today, there are just a few but at lower Market prices.

     Early $5 and $10 Gold coins are showing some resistance at previous Market levels. We have noted several downward adjustments for specific dates and grades in these two series. The 1799 $5 Gold adjusted down in grades MS60-62 Wholesale Market, while the 1806 Round Top 6 fell in MS60, 61, 63, and 64. In the $10 Gold series, the 1795 13 Leaves, dropped in MS60 & 61, as well as some of the AU grades. Dealers have lowered their buy prices for Proof Gold, especially in the $5 and $20 Liberty series. In addition, it looks like there are a few sellers at these lower prices.

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