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of the United States
Rare Coin Market

Long Beach Auction Records Another Million Dollar Coin

June 8, 2015

     Another Long Beach Expo is in the books and, for those dealers who came to work hard, the show was very successful. Public attendance was strong from the outset but dealers are finding it difficult to sell low value coins under $1000 unless the coins are discounted. Some of the series from 1940 and later are somewhat soft and declines are found throughout. Washington Quarters have been selling at discounts for the last month or so. With the exception of the highest grade Registry coins, many of the common dates are readily available and sellers have to be aggressive if they want to move some inventory.

     Heritage Auctions Signature Sale reported just over $17 million in prices realized. With the 1880 $4 Gold Stella Coiled Hair leading the way, Heritage proved once again that coins with true rarity and a pedigree will command aggressive bids from advanced buyers. This 1880 Stella is certified by PCGS as PR65 and is CAC approved. With such a limited availability, there is only one graded higher by PCGS as PR66, this coin brought $1,116,250.

1880 $4 Coiled Hair Stella PR65 PCGS CAC

1880 $4 Coiled Hair Stella PR65 PCGS CAC sold for $1,116,250 at the Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Long Beach, California, June 4-7, 2015

     Also highlighted was the 1933 $10 Gold Indian certified as MS65 by PCGS. This coin has a total population of 12 in this grade at PCGS and NGC with only one higher at NGC, an MS66. The present 1933 MS65 brought $587,500. We have a few of the other highlights listed below.

1793 Wreath Cent Vine & BarsPCGS MS65 BN$176,250
1822 Capped Bust QuarterPCGS MS67$164,500
1828 Capped Bust QuarterNGC MS67$108,688
1878 S Seated HalfPCGS AU55$82,250
1795 $1 Flowing Hair Three LeavesPCGS MS62$76,375
1795 $1 Draped BustPCGS MS63$76,375
1880 $4 Gold Flowing HairNGC PR65 CAC$417,125
1795 $5 Gold Heraldic EagleNGC AU58$82,250
1798/7 $10 Gold 9x4 StarsNGC MS62$199,750
1859 $20 GoldNGC PR63 Cameo$223,250
1879 $20 GoldNGC PR64 Cameo$105,750
1884 CC $20 GoldPCGS MS62 CAC$28,200
1925 D $20 Gold Saint GaudensNGC MS65$64,625

     Gold analysts are concerned with the short term direction of Gold. They feel as long as the U.S. Dollar is strong and foreign entities are investing in the stock market, Gold will continue to languish. As Gold declines, prices and premiums will be soft. But when Gold turns around it may be the start of a long run.

     This week’s Moderns Wholesale Market Dealer Price Guide shows lots of declines in the Moderns Market, especially for Gold, Silver, and Platinum. MS69 $50 Gold Eagles are down to $1,200 and $100 Platinum coins in MS69 are lower at $1,135. Make sure you check daily price changes in the metals market before committing to purchases.

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