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NumisMedia Weekly

Current News and Analysis
of the United States
Rare Coin Market

Gold Falls Below $1,200

October 6, 2014

     This week marks the inaugural show for the PNG Invitational in New York City at the Millennium Broadway Hotel, located within half a block of Times Square. Over 50 Gold coins from the Saddle Ridge Hoard will be on display which includes the finest known 1866 S No Motto $20 Liberty. Heritage Auctions and Stack’s Bowers Galleries will host major auctions with some wonderful rarities available. Below are just a few of the featured highlights from these two sales.

1831 Bust Dime PR66 Cameo PCGS CAC

1831 Bust Dime PR66 Cameo PCGS CAC available in Heritage Auctions PNG New York Invitational U.S. Coins Signature Auction, October 8-13, 2014

Heritage Auctions


1914 D Lincoln CentPCGS MS65+ Red CAC$6,225
1831 Bust DimePCGS PR66 Cameo CACN/A
1796 Draped Bust QuarterPCGS MS64$155,000
1879 $4 Gold Flowing HairPCGS PR64 CAC$145,000
1872 $20 GoldPCGS PR64 CAC$98,500
1907 $20 Gold St. Gaudens High ReliefNGC PR67 *$155,000
1921 $20 St. GaudensPCGS MS61$105,000

Stack’s Bowers Galleries


1794 Liberty Cap CentNGC MS65 BN$56,500
1879/8 Shield NickelPCGS PR69$23,000
1796 Draped Bust Half 16 StarsPCGS VF35$69,500
1802 Bust Half DollarPCGS AU58 CAC$39,250
1874 CC Seated Half w/ArrowsPCGS MS62 CAC$16,500
1803 Draped Bust Dollar Sm 3PCGS MS63$68,500
1861 D $1 GoldPCGS MS61$56,500

     Gold fell below the $1,200 mark last week but has rallied back somewhat this morning to just above at $1,206.50. Dealers are hopeful that this will establish a new base and initiate some upward momentum for all the medals. Silver, which had dropped to under $17 an ounce, is up to $17.21.

     Teletype business continues to be dominated by bullion related coins with Eagles and Buffalo Gold garnering most of the buy/sell messages. Proof Gold Eagles are now wholesaling at $1,410 per ounce in OGP. Proof Silver Eagles are just a touch under $50.

     Most coins are steady at present levels in this week’s LD Wholesale Market Dealer Price Guide as many of the reported series have been rather inactive. The one area with a large amount of increases was early Lincoln Cents. Dealers and collectors appear to be hunting for better date coins that are reasonably priced compared to the next highest grade.

     For example, the 1913 D in MS63 RB is higher at $220 Market; the MS64 is currently priced at $400. In addition, the MS63 Red is at $285 and they are rarely offered for sale. Buyers believe coins like the 1913 D in MS63 RB with lots of Red are a bargain compared to the higher priced coins in MS63 RD or MS64 RB. The 1917 S MS63 RB and the 1919 D MS64 RB are also higher, at $285 and $250, respectively.

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