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NumisMedia Weekly
NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

January 3, 2011

2011 Begins with FUN

     The nation's dealers are headed for the FUN Convention in Tampa, Florida. With some dealers heavy in inventory and others with lots of cash to spend, we should see a good balance of buying and selling at the year's first major show. The FUN committee always puts on a spectacular event and the weather is supposed to be vacation friendly so attendance is expected to be strong. There are two major auctions that are sure to attract some very competitive bidding. Bowers and Merena Auctions hosts a pre-sale and then Heritage Auction Galleries conducts the official FUN Auction, including the always phenomenal Platinum Night. This sale usually contains some record setting rarities.

     Many dealers feel that the new year will bring a shift in focus and collectors will concentrate more on traditional coins prior to the 1930's. Some point to the fact that many Modern coins, even in the highest grades, have been drastically reduced in value over the last year. As you can see from this week's Moderns Wholesale Market Dealer Price Guide there are numerous declines in Roosevelt Dimes, Washington Quarters, Sacagawea Dollars, Presidential Dollars, and Silver Eagles, all in Deep Cameo PR70. In many cases the population reports show an increase in the number of coins certified in this ultimate grade. As supplies increase in dealer inventories, the asking prices have fallen and dealer support for many of these better dates has diminished.

     Deep Cameo PR70 Silver Eagles have seen a major downturn in demand at previous levels. The 1987 S fell to $1,325 Market from $1,375, while the 1993 P dropped to $2,675 from its previous Market of $2,850. We continue to see many of these dates selling at major auctions at discounts of previous highs. One bright spot this week is in the Ike Dollars. These are very difficult coins to locate in high grades of Mint State. There are several increases for MS66 dates including the 1974 D, 1976 D TI, 1977, and the 1978. We rarely see coins above these grades on the market.

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NumisMedia Weekly Archive
Current News and Analysis of the U.S.
Rare Coin Market

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