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NumisMedia Weekly Market Report

Current News and Analysis of the

United States Rare Coin Market

August 1, 2011

ANA Just Around the Corner

     The World's Fair of Money in Chicago runs from August 16-20 and dealers are already anticipating a huge ANA show. This show is typically well attended as the central location draws collectors from the many surrounding states. Stack's Bowers Galleries has the official auction for the ANA and we are expecting to have many highlights to report. Just prior to the ANA, Heritage Auctions will host a major sale including their always spectacular Platinum Night.

     The metals are on the move again this morning and Gold has again reached $1,630 an ounce. With higher bullion prices, the Eagles chart in this week's Moderns Wholesale Market Dealer Price Guide exhibits a massive number of advances. Almost everything in MS69 and lower are up and so are some of the 70 graded coins. All Modern bullion related coins are in demand and trading on the teletypes is very aggressive. Common date Silver Eagles in MS69 are up to $53 Market. Gold Eagles are now $1,650 minimum in MS69. Proof Gold Eagles with the original packaging are at $1,750 and Silver Eagles are trading at $60 among dealers, which is somewhat lower than it has been over the last several weeks.

     Over the last six months we have noticed a lot more State Quarters on the market and many of them are the once rare PR70 variety. Any increase in the number certified must be absorbed by new collectors and it looks like there are more supplies than the current demand. The Silver Pennsylvania in Ultra Cameo PR70 fell to $350 Market this week and the Silver Georgia dropped to $190. There are many others following the same path.

     Many of the highest graded Ike Dollars are trading at lower levels. The 1971 S Silver Ultra Cameo PR70 fell to $5,500 and the 1973 S Silver decreased to $6,750. These are rare coins by population but if the number of coins certified jumps from 5 to 10 coins, there may well be fewer buyers at these higher levels.

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

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