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NumisMedia Weekly Market Report
Gold Advance Makes for Interesting Market
September 16, 2024
With Gold reaching all-time highs several times last week, now around the $2,580 mark, it is almost crazy that $20 Gold, both Saints and Liberties, are trading very close to the bullion value all the way up to MS63. With Saints, the premiums for the MS64 & MS65 grades are miniscule as well. Gold was toiling a few years ago at just $1,700 an ounce. Eventually collectors are going to realize that many rare coins are undervalued compared to the rise in Gold.
Heritage Auctions held lot viewing for their latest Signature Sale at the recent Long Beach Expo and it contained the usual quantity of elusive rarities, many with competitive bidding during the final minutes of action. The market for rarities is solid even if prices are discounted somewhat; buyers are looking for rarity as well as eye appeal for their money. Below are some of the many highlights from this just completed Heritage Auctions Long Beach sale, upcoming updates of NumisMedia prices will have numerous adjustments.
1864 $2.5 Gold certified by NGC MS60
The 1864 $2.5 Gold is certainly a rare coin, even though, it was not one of the top sellers in this sale. There are less than twenty-five coins known in all grades and it is extremely rare in Mint State. This MS60 is the only one noted by NGC with two others in MS61, one each by PCGS and NGC. And then there is one other NGC MS67 with its whereabouts currently unknown and no auction records available at this time. This MS60 previously sold last year for $93,000 and then sold here for $84,000, another example of the market deviation over the last year.
1864 $2.5 Gold NGC MS60 sold for $84,000 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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1909 O $5 Gold Indian certified by PCGS MS64 and CAC
The 1909 O $5 Gold Indian is at the top of the series by value in all grades. It is extremely rare in MS64 and higher, and premium upgrades such as + or CAC will command top dollar. The PCGS MS64 with CAC approval in this sale realized $216,000. In comparison, in another Heritage sale back in 2021, the Simpson MS64+ with CAC brought $240,000. That could be seen as a $24,000 premium for the + designated coin. However, the market in 2021 was considerably more active and stronger. By today's dollars and using the price realized for this coin, the Simpson example would probably be worth much more. There are only six coins available in MS64+ and higher with the highest grade a PCGS MS66. Many collectors would settle for one of the seventeen MS63 coins currently listed in the population reports.
1909 O $5 Gold Indian PCGS MS64 CAC sold for $216,000 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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| Date/Denomination | Grade | Price Realized |
| 1793 Liberty Cap Half Cent | PCGS AU50 | $22,320 |
| 1793 Chain Cent AMERICA | PCGS AU55 CAC | $150,000 |
| 1793 Flowing Hair Wreath Cent Vine & Bars | PCGS AU55 | $32,400 |
| 1793 Liberty Cap Cent | PCGS VF20 | $52,800 |
| 1792 Half Disme | PCGS AU50 | $144,000 |
| 1796 Draped Bust Quarter | PCGS AU55 | $99,000 |
| 1797 Draped Bust Half Dollar 15 Stars | PCGS AU50 | $144,000 |
| 1795 Flowing Hair Dollar Two Leaves | NGC AU58 | $44,400 |
| 1895 Morgan Dollar | PCGS PR67+ DCAM CAC | $324,000 |
| 1796 $2.5 Gold Capped Bust No Stars | PCGS AU50 | $152,400 |
| 1808 $2.5 Gold Cap Bust | PCGS AU53 | $126,000 |
| 1879 $4 Gold Flowing Hair Stella | PCGS PR50 | $120,000 |
| 1795 $5 Gold Small Eagle S over D | PCGS AU55 | $48,000 |
| 1832 $5 Gold Capped Bust 13 Stars | PCGS AU55 | $66,000 |
| 1796 $10 Gold Cap Bust | PCGS AU55 | $84,000 |
| 1839/8 $10 Gold Large Letters | PCGS MS61 | $48,000 |
| 1907 $10 Gold Indian Wire Edge | PCGS MS62 | $43,000 |
| 1907 $10 Gold Indian Rolled Edge | PCGS AU55 CAC | $186,000 |
| 1911 D $10 Gold Indian | NGC MS64 | $78,000 |
| 1861 S $20 Gold Paquet | NGC AU53 | $84,000 |
| 1885 $20 Gold | NGC AU55 | $43,200 |
| 1892 CC $20 Gold | NGC MS63+ | $52,800 |
| 1907 $20 St Gaudens High Relief | NGC MS67* | $168,000 |
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1793 Liberty Cap Cent PCGS VF20 sold for $52,800 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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1895 Morgan Dollar PCGS PR67+ DCAM CAC sold for $324,000 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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1907 $10 Gold Indian Rolled Edge PCGS AU55 CAC sold for $186,000 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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1911 D $10 Gold Indian NGC MS64 sold for $78,000 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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1892 CC $20 Gold NGC MS63+ sold for $52,800 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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1907 $20 St Gaudens High Relief NGC MS67* sold for $168,000 at Heritage Auctions Long Beach Expo U.S. Coins Signature Auction in Dallas, Texas, September 12-15, 2024
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