As we write this article from the FUN show in Florida, much talk continues about the current state of grading and certified coins. While dealers across the country are of course still submitting coins in large numbers, more than a few are anticipating standards will tighten in 2017. As the Bluesheet reports the basal value for large number of certified coins, this is something we are keen to follow, and the prices will bear out whether this happens or not.
In what can certainly be viewed as a positive sign, sight-unseen bids in major, high-volume series like Morgan dollars and Walking Liberty halves are stabilizing. This indicates that the market makers are happy to buy coins at their current levels, and their buyers are willing to pay their asking price. On the other side of the coin, 20th century gold is approached with much trepidation. Unseen bids for spotted or otherwise unattractive coins are non-existent, and even uncirculated coins are available to purchase for very little over the melt value. A quick glance at our price chart for $20 Saints confirms this reality. The spreads between average-quality and high end examples are growing, and while we don’t report Bluesheet prices for dated Indian gold, a short amount of research will confirm the same for these series.
The famous, proof-only 1884 Trade dollar, graded PCGS PR63 has reached $200,000 ($235,000) against a Quarterly value of $300,000.
ALL EYES ON PLATINUM NIGHT
As of this writing (Thursday, during the FUN Show), bidding in the Heritage sale appears robust. The Platinum Night session hammers this evening but there are real signs of life in some rarities including the 1802 half dime, graded PCGS/CAC AU53 (ex: Eliasberg) which is sitting with an internet bid of $270,000 ($317,250 with buyer’s premium) against a CDN Quarterly Bid of $300,000 in AU50. The famous, proof-only 1884 Trade dollar, graded PCGS PR63 has reached $200,000 ($235,000) against a Quarterly value of $300,000. We are keenly interested to see where these end up at the end of the session, and will report on those levels.