Greysheet: BUFFALO NICKELS STAMPEDE TO CLOSE OUT 2016 AUCTIONS
The final highlight collection of the calendar year crosses the auction block this week, with the offering of the Angel Dee’s Toned Buffalo Nickels Collection. It is being sold as part of Legend Numismatic Auctions Regency XIX sale. The assemblage of 67 coins is a visual delight to view, and is led by a very attractive 1913 Type One graded PCGS/CAC MS68. Other notable pieces include a PCGS/CAC MS66+ 1916-D, a PCGS/CAC MS65+ 1918-S, a vibrant PCGS/CAC MS67+ 1925, a PCGS/CAC MS67 1931-S (one of just two coins to receive a CAC sticker), and a PCGS MS67+ 1935-S, the finest known. The requisite 3-Legger is graded PCGS/CAC MS65. The results of this collection will be interesting to follow, especially in light of Stacks Bowers sale of the finest known 1924-S (PCGS MS66+) last month for a staggering $105,750. Buffalo nickels have at times slumped over the past two years—Liberty head and Shield nickels as well—due to grading inconsistencies, but it is clear that when sharply struck coins the money and enthusiasm is there.
As a follow up to last week’s issue in which we mentioned the Gadoury auction featuring some scarce early U.S. gold, we have the results. The top gold coin was the well-known very low mintage 1885 $20, in this case in a PCGS AU Details holder, brought $42,645. The next two top lots were New Orleans double eagles: an 1879-O PCGS AU Details at $35,117 and an 1858-O graded NGC AU55 took down $32,611. The leading Carson City coin was an 1879 double eagle, NGC XF45, selling for a strong $15,677.
THIS WEEK'S MARKET
Gold Type: There is no question the gold spot price has seen much volatility in the past week. It has bounced up and down by more than $25, in a range between $1,160 and $1,185, being influenced by the referendum vote in Italy and new notes from analysts proclaiming that the prior sell off in gold was premature and that the yellow metal is trending upward. Regardless of the reasons why, there is certainly more active bidding in generic gold type this week, with the greatest increases in MS62.
Walking Liberty Halves: A comment by Warren Mills in the December 2016 Rosen Numismatic Advisory about our pricing of this series prompted a quick study and mini year-in-review for us. Starting with this year’s FUN auction, it was clear high grade key date Walkers would be a bright spot in the market. This trend continued, especially when old time collections were offered, such as McClure, Highland, and Twelve Oaks, and prices were moved accordingly. Of course the increases were tempered by adverse auction results, but levels are still clearly above prior 2014 and 2015 prices. During 2016, we had 341 total price increases in this series and 157 total price decreases in the Greysheet.