Pogue Sale Kicks Off the Fall Coin Season

The eyes of the U.S. numismatic world were focused on New York City last week with the offering of the second installment of the D. Brent Pogue Collection by Stacks Bowers (http://www.stacksbowers.com) on Wednesday, September 30. The fireworks began early with the third lot of the sale, the finest known 1807 Large Stars Capped Bust half dollar graded MS66 by PCGS, blowing by its presale estimate selling for $258,500. With the exception of the 1817/4 half, this is the highest ever realized price for a business strike Capped Bust half dollar.

There were four 7-figure coins out of the 105 lots sold: the PCGS MS66+ 1794 silver dollar at $5 million, a 1798 half eagle Small Eagle reverse at $1.18 million, a 1795 eagle 9 Leaves at $1.06 million, and a 1795 eagle 13 Leaves at $2.6 million. All told, the auction realized $26.12 million, with an average lot price of nearly $250,000.

The following day, October 1st, Stack Bowers conducted a Rarities auction of U.S. coins and Americana which brought in $3 million. The top lot honors went to a 1796 No Stars quarter eagle graded MS61 by PCGS with the seldom seen Gold CAC sticker, crossing the block for $352,500. An MS65+/CAC 1798/7 dime brought $117,500 and an AU55 1808 quarter eagle brought $94,000.

Next on the coin show docket is The Silver Dollar & Rare Coin Expo held in St. Charles, Missouri beginning on October 15th. This show features an auction of U.S. coins and currency conducted by Scotsman Auction Company (http://www.scoins.com). The highlight lot of this sale is the NGC graded MS63 1796 quarter pedigreed to the famous and expansive Benson Collection which was sold in 2002. Additional auction lots feature U.S. currency and world coins, and of course, silver dollars, one highlight being an MS61 1889-CC.

Price Correction on 1921-S Morgan Dollar

We have corrected the MS66 Bid/Ask for the 1921-S Morgan to reflect the current CAC bid.

Precious Metals Continue Roller-Coaster Ride

Last week bore witness again to bouncy metals prices. Friday, October 2, saw a nice jump of $21.75 in gold spot from the previous afternoon close. Of course, we have become immune from these jumps as we assume a large increase one day will lead to a similar decrease the next.

We go to press this week with gold trading over $1,130 and silver above $15.00. Ironically, the net levels for gold and platinum are essentially unchanged from last week’s sheet, while silver saw a nice rise of 97 cents.