Gold has retreated the past few days since hitting its intra-month high of $1,184 and change, although at the time of this writing spot is attempting a rally off news of a weaker GDP print out of China. The European Central Bank policy meeting this week may also have an impact on the gold spot price, as it is expected that the ECB will hint at further monetary easing. Additionally, market participants worldwide now do not expect the Federal Reserve to raise the benchmark interest rate until 2016, all but ensuring further volatility across most asset classes.

Live Auctions Update
The two numismatic auction events held last week garnered $5.8 million combined, with Legend Rare Coin Auctions (http://www.legendauctions.com) garnering the bulk of that number at $4,926,775, with the Scotsman (http://www.scoins.com) sale in Missouri bringing in the balance. Digging into the numbers a bit, the Legend Regency XIV sale saw ten coins sell in the six figure range for a total of $1,956,376, accounting for approximately 40% of the total prices realized.

These ten lots were led by the 1901 dollar, certified PCGS MS66, population one, at $587,500. Only two of the ten lots were gold coins, a 1915 $50 Pan-Pac Round and an 1887 Proof Eagle graded PR65+ Deep Cameo by PCGS with a CAC sticker. The highest priced copper coin of the sale was an 1865 Indian cent certified PCGS/CAC PR65+ Red Cameo at $25,850.

Looking forward on the auction calendar the Heritage sale (http://www.ha.com) of the Gardner Collection, Part IV looms large, alongside the large Stack Bowers Baltimore auction which consists of over 6,000 lots. Of these, 2,821 lots are U.S. coins, featuring amongst others, a superb collection of Barber dimes.

CCDn Pricing Changes this Week
With regards to prices changes, we have continued to analyze the Morgan dollar series this week, taking to opportunity to use auction results to update some of the less frequently seen dates and grades. Deep Mirror Proof Like coins, in particular, see a handful of adjustments. Another series that gets reviews are Proof Singles on Page 7. An entry has been added for the 1936 Satin Proof Lincoln Cent. The early dates for all five of the denominations covered in that section have been updated and increased. Proof Franklin halves, which enjoy considerable collector demand, are brought into line with recent trading activity in their respective grades. As stated in prior issues, our objective is to gradually form the prices reported in the Bluesheet from the “lowest of the low” to a more baseline price of what average quality material trades for.


The Certified Coin Dealer newsletter ("Bluesheet") reports current wholesale market "Bids" for coins certified by the most active grading services, PCGS and NGC. Our values are determined through careful study of market activity (including the Bids placed on CoinPlex (http://www.coinplex.com), CoinNet, trade show activity, prior levels, auction prices and other anecdotal research). CCDn uses every means available to ensure accuracy and completeness of the wholesale levels shown. Individual buy and sell prices will vary among dealers, are strictly the responsibility of the dealers, and may fluctuate according to needs. CCDn prices are indicators only and we do not represent that it is possible to purchase or sell selected coins at Bid levels.