Bluesheet Market Update

As of this writing, national dealers and many dealers of all sizes from the East Coast, are busy preparing for the last major event of the year – the Whitman Baltimore Expo. The show runs from Thursday, November 8-11, and is a well-trodden stop on the annual numismatic schedule. The “Fall Baltimore” show, as it’s usually referred to, is generally one of the best show events of the entire year. For most, 2015 has been a challenging and unimpressive
year. Coming off of a slower-than-usual Summer, the first weeks of Fall have provided a glimmer of hope. Auction results, from Legend to Heritage have come in stronger than expected and collector activity appears to be increasing on the retail front, as well. This, of course, sparks increased dealer demand to restock inventories, and the Baltimore show is the last-best opportunity to do so before the FUN Show in January.

Stack’s Bowers Galleries Auction
Stack’s Bowers Galleries is holding a pair of auctions in conjunction with the show, in the catgories of U.S coins and
currency. Hailed as a Rarities Sale, there are many interesting and desirable coins in the auction, including a selection of Barber dimes from a “world class collection.” Also noted is a tantalizing example of a gem 1879 Stella $4 graded PCGS Secure Proof 65+ which has been “off the market since at least 1956.” Pictured here, the lot comes with a unique presentation case, and is sure to garner a lot of bidding interest.

This Week’s CCDn Market Notes
We spent considerable time this week continuing our work on Morgan dollars, but we also picked up on market activity related to the Heritage Auctions held in New York last week. In general, and despite many comments to the contrary, the bottom end of the market is solidifying and we are hitting more plus (+) signs than minus (–) in the current Bluesheet. One issue that suffered was a 1916-D PCGS MS64 FB Mercury dime (Heritage Auctions, lot 3157). The coin realized $12,925, which was unusually low compared to recent auction records, and last week’s Bluesheet of $15,000. The coin being darkly toned is a factor, an undesirable aesthetic for Mercury dimes. On the other hand, better date Morgan dollars – a bell-weather in the rare coin hobby – showed positive signs in most areas, especially key dates and Carson City issues.