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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

January 26, 2009

2009 Ultra High Relief $20 Gold on Sale

     The metals have been heating up and there was a lot of activity on the U.S. Mint’s website last week as the 2009 Ultra High Relief $20 Gold went on sale. The initial price was set at $1,189 and there were dealer-to-dealer wholesale confirmations as high as $1,450 for these First Strikes. Dealers were scrambling on the teletypes to get their orders confirmed from those who completed successful orders, but the limit of one per household created delays when ordering directly from the Mint. Most dealers and collectors believe this could be a great collector coin for the future.

     Although Gold is higher, there is a large amount of declines in this week’s LD Wholesale Market Dealer Price Guide. An obvious weakening in the overall market was substantiated from the results of the FUN Convention. Heritage amazed with realizing over $50 million dollars in auction sales, even in this down economy, but the lower prices in various series cannot be ignored. With this many millions of dollars in sales, it is evident that there is money available for the right coins. However, many buyers are now looking for not only the right coins, but at discounted prices. There is nothing wrong with trying to maximize your dollars, but we may continue to see declines in this type of market.

     While we do see a large influx of decreases this week, there are still many increases to offset much of the negativity. Copper, including Half Cents, Large Cents, Indian and Lincoln Cents saw many issues trading at higher levels in grades not often seen. Copper has a very strong following of collectors not seemingly affected by the natural cycles that occur in other areas of numismatics. Several Large Cents moved higher in many grades including the 1794 Head of 1794, 1798 1st Hair Style, 1803, 1805, and 1808. A lot of Half and Large Cents in specific grades do not trade often enough to maintain fresh wholesale prices so when they are offered at auction, it can create a multitude of adjustments throughout.

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