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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

September 27, 2010

Metals and Rarities Motivate Long Beach Sales

     The Long Beach Expo was uplifted by a strong week of metal prices. Gold bullion touched the $1,300 mark during open trading and remained around $1,298 most of the week. Silver pushed past $21 an ounce thus keeping circulated Dollars and bags very active. However, as prices move higher, premiums have diminished. Many of the modern bullion issues are trading based on current bullion prices and the grade on the Mint State coins is not as relevant as it has been in the past.

     The Long Beach Expo was very active for those in attendance, although many East Coast dealers were not present because of this week's Whitman Coin Expo in Philadelphia. Warm weather brought collectors to Long Beach and dealers were mostly satisfied with the sales results. Much of the activity was focused on bullion related coins, but the Heritage Signature Sale still managed to captivate many buyers. The obvious highlight of this sale was the 1856 O $20 Gold Liberty, graded XF45 by NGC. This rarity brought $345,000. This past week also saw a private sale for the unique 1943 D Copper Lincoln Cent. Legend Numismatics orchestrated the purchase at $1.7 million and then placed the coin with an anonymous collector in the Southwest. The coin grades PCGS MS64 Brown.

     In this week's LD Wholesale Market Dealer Price Guide, there are very few changes in most series. Seated material is in demand as long as the coin has no negative characteristics. Better date Seated coins are very much in demand as buyers will typically pay above the Market price, especially for coins that have a very low census for the grade. These coins are few and far between and collectors are always looking for them. The major declines for Buffalo Nickels and Mercury Dimes over the last two years have subsided recently. Most trades among dealers are at current Market prices. Barber Dimes, Quarters, and Halves are quite active although there are some slightly better dates that have been discounted and approaching common date status. Still, buyers are plentiful.

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