Proof Morgan Dollar

Activity Across The Market

As we enter the second quarter of 2018 the rare coin market sits in a good place but with plenty of upside potential still to be fulfilled. A number of factors will influence whether this potential turns into reality. A continued weakening in the stock market, a spike in precious metals prices, and a continuation of significant collections coming to market are all factors. Despite proclamations to the contrary, so far this year we have seen a steady stream of fresh, high-end material become available. The Duckor Walking Liberty Halves, the $10 gold pieces from the Admiral Collection, the type coins from the Vanderbilt Collection, and others all were eagerly absorbed by the market. A drag on the market continues to be coins that are heavily resubmitted and offered on the wholesale market, although many of the coins are finding homes when priced right.

Gold Type: Gold holding well over the $1,300 mark has helped the stir some demand for generic double eagles. Anecdotal to this, we have observed some large groups of coins changing hands as those who are willing to take a position in the yellow metal can get in for almost no premium.
Proof Type: A segment that does not often get a lot of attention, there are opportunities here for the attentive buyer, especially in public auction to pick up some low-mintage pieces at attractive prices. In the coming months we will be adding pricing for Cameo designated coins in many series.
Half Cents: In the last Quarterly I issue we undertook to full review this series, and we will continue to so in the coming months to reflect the significant price appreciation this series has seen. While pricing can be very tricky because of the differences in commercial grading compared to EAC grading, there are areas where will can still improve.
Morgan Dollars: The most popular United States coin series is also the most sensitive in today’s market. While many of the blue chip dates in collector grades are steady, other high grade pieces have declined. Grading service, CAC/non-CAC, and toning are major factors here. This is a series where an understanding of the Blue-Grey spread found in these pages is critical for anyone who is buying and building a collection.
Classic Commemoratives: This is a series that has people wondering if and when the light at the end of the tunnel will appear. Seemingly the only series where even CAC-stickered coins have suffered, there is a need for some creative marketing to give this series a shot in the arm.