Bluesheet: AWAITING THE FINAL ROUND OF MAJOR 2016 AUCTIONS
As we await the results of both the Heritage New York City auction and the Stacks-Bowers Baltimore sale, our attention has been on refining the pricing in these pages to posted active sight-unseen bids. These two large auctions are the final major sales to take place for 2016 and provide ample opportunity for dealers to stock inventory going into next year.
When talking to dealers about what has been selling well lately, with regards to certified coins, Walking Liberty halves are often mentioned, along with Standing Liberty quarters. Somewhat under the radar, gold commemoratives have also firmed up, as the large quantities which were on the market in auction a number of months ago have been absorbed.
Scotsman Auction Company held a U.S. coin and currency auction recently in conjunction with the Silver Dollar and Rare Coin Expo in St. Charles, Missouri. The offering of over 850 lots brought in just over $1 million. The top lot honors went to an 1845 proof Liberty Seated quarter, graded PR64+ by PCGS which realized $23,575. An interesting lot which went well beyond it’s estimate was a complete date run of Canadian five cent pieces, selling for $16,100. A 1901-S quarter certified F12 by PCGS was had for $11,213, while a complete U.S. type coin set in album sold for $10,350. Sales such as these show the demand that is present for collector-oriented material, both with regards to grade and price. The group lots are appealing to buyers, as they are an opportunity to acquire upgrades or to add multiple pieces in one shot.
This 1845 proof Liberty Seated quarter, graded PR64+ by PCGS realized $23,575 at a recent Scotsmans Auction Co. auction
Sight-unseen bidding underpins the rare coin market and we are encouraged to see slight increases in the volume of bids posted lately. We are also gradually marking existing (lower) bids within 5-10% of Bluesheet to the highest bid to establish reliable levels. Washington quarters see some declines this week. In particular, MS66 and MS67 coins in this series have been depressed over the past six to nine months, and opportunities may be present. Mercury dimes also reflect lower unseen bids in the cheaper, post- 1934 dates. There are also minor adjustments in the Walking Liberty and Franklin halves series. Finally, the bump up in the gold spot price has helped certified generic gold coinage, as bids have already increased.