Bluesheet Market Update

The Stack’s Bowers Baltimore auction held recently was a positive barometer for the rare coin market. The U.S. coins were offered in six auction sessions – four live and two online-only – realized over $5 million. Adding in the U.S. currency and world coins and currency categories, the auction total was over $7.9 million. The Rarities Night session consisted of just 157 lots and took in over $2.18 million. As we mentioned in last week’s Greysheet, the three session-topping coins were all gold: a pair of 1879 Flowing Hair Stellas and a 1914 Proof Indian Head half eagle. These three pieces together brought $434,750. Other significant early gold coins to sell included: a 1796 Capped Bust eagle graded PCGS AU58 at $86,540; a 1799 Capped Bust eagle graded NGC MS61 at $47,000; and an 1814/3 Capped Head half eagle graded PCGS MS62 at $30,550.
Twentieth-century gold was active as well, with a PCGS/CAC PR64 1909 Indian quarter eagle coming in at $16,450 and a PCGS/CAC PR67 1914 quarter eagle at $58,750. Nine different Morgan and Peace silver dollar lots brought five figures. The leader here was an 1889-CC certified MS63PL by PCGS which realized $47,115. A choice 1934-S Peace dollar graded PCGS MS65+ brought $12,925.
In early silver, a rare 1795 Silver Plug Flowing Hair half dollar graded VG10 by NGC hammered for $49,940. An extremely interesting coin, it is the only one ever certified by NGC. PCGS has graded a lone Fine-12 specimen, and these are the only two certified from a total of four known. Another piece worthy of mention on eye appeal alone is an 1837 No Stars Liberty Seated Dime, graded PCGS/CAC PR63 Cameo. Exhibiting great contrast, it highlights the sheer elegance of Gobrecht’s design, and realized $14,100. The top copper coin in the Rarities night session was a 1794 Liberty Cap Cent, Sheldon-22, in a PCGS MS61BN holder which crossed the block at $16,450.

The week we completed our revision of Morgan dollar pricing, covering the final years of
the series from 1900-1921. We also tackled $20 Saint-Gaudens, as this series has been long in need of updating, especially for the better dates. Experts in the series know that many better-date “Saints” are conditionally rare and trade infrequently. To correct these values we are relying heavily on recent (and historic) auction prices realized, as well as reported trading activity. Going back our article in last week’s newsletter, using the Bluesheet prices in conjunction with the indications found in our Monthly Supplement will provide you with a reliable spread for these coins. As always, we welcome feedback to