By Kathleen Duncan for Pinnacle-Rarities

More coins that is. To sum up the show in one sentence: there were few nice coins to purchase at reasonable levels. The market is looking extremely strong for anything that is rare and/or unusually nice. We bought little in auction, although had reasonable success buying from our wholesale network, but could definitely use more inventory. If you have bought from us in the past, and are thinking about selling, please give us a call. (For that matter, even if you haven’t bought from us, give us a try on the sell side!) We certainly have more want lists to fill than at any time we can remember.

Prices in Heritage were extremely strong, especially for the old holder collection representing 1 and 2 point upgrades. If you take a look at auction prices, you will often see different examples of the same coin and grade sell within a large trading range. Collectors have become savvier and less frequently fall prey to focusing on the plastic instead of the coin itself. Even if a coin is in the ‘wrong’ holder (a MS64 that should be a MS65 for example) it will most likely bring the ‘right’ money. This is good news for collectors who have been focusing on high-quality.

Although the market is exceptionally robust, there are still some bargains. Silver commemoratives, late date Walkers, Three Cent Nickels, and Shield Nickels, as well as some Seated and Barber material continue to provide solid investment opportunities. As always, we strive to focus our inventory choices on high-quality rarities representing solid value. On that note, among our new purchases is a beautiful, high-quality collection of Proof Liberty and Shield nickels, including an 1877 PR67 Ultra Cameo and several nice PR68 Liberty nickels. Check out our inventory page for our current selection of these and other fabulous new finds.

By Kathleen Duncan for Pinnacle Rarities

Although it has been increasingly difficult to acquire nice rarities in the past several months, we were presented with some fabulous material through our dealer connections at last week’s Central States Convention. We were pleased to get first opportunity on a blockbuster collection of early Proof Seated Halves, two heralding from the 1997 Louis E. Eliasberg, Sr. collection.

Another favorite purchase was a beautiful condition census 1798 Draped Bust Dollar (ex. Phil Flanagan) in PCGS MS64 condition. We also were the successful bidder (on behalf of a client) on the 1802 Novodel PR65 Cameo Dollar from the fabulous Queller collection, in our opinion the nicest coin in Heritage’s $45 million sale, although only the second most expensive: The 1804 Dollar in NGC PR62 condition broke the record for the third highest price paid for a coin in auction, realizing $3,737,500.

The pre-convention sale held by Bowers and Merena showcased some high-end collections of Washington quarters and Buffalo nickels bringing similarly high-end prices. A 1926-S NGC MS66* brought $322,000, which is an auction record for a 26-S Buffalo nickel and the first to surpass the $300,000 level. A 1932-D 25c PCGS MS66 brought a healthy $143,750. We had the pleasure of handling this same coin in the mid 90s for approximately $20,000. Our client turned it around in 2001 for a tidy $90,000, a good example of the staggering price increases for certain Key dates in the past decade.

While most areas are experiencing strong demand from collectors, prices on Silver Commemoratives are still quiet on all but the’top pop’ examples. Other series that present excellent value are Three Cent Nickels and Proof Liberty nickels. Outstanding value continues to exist within the Barber and Seated series, Walking Liberty Halves, and Peace Dollars. But finding the coins is another matter. We did not, however, have any trouble finding quality coins to purchase in Chicago, so enjoy browsing our newest selections.

By Kathleen Duncan - Pinnacle Rarities

One of the most frequent questions we’re asked is which series present the best values. There has been plenty written on those sectors of the market on the rise…seemingly most right now. We can, however, list quite a few which are excellent bargains. For the most part, these are coins that have not seen much, if any, price appreciation in the past two decades. Acquire a single coin, or collect an entire series. High quality, attractive coins from these areas should outperform the general market.

Red-Brown Indian Cents: We see many coins certified Red by PCGS or NGC that we believe are actually a Red-Brown. Buy those coins, instead, that are certified Red-Brown, which are near Red, and pay a fraction of the price.

Three Cent Nickels: This is a modest 23 coin series that has only a few stoppers (1883, 84, 85). The Proof series is only a bit longer (26 coins) but is easier to complete. Most proofs are available in cameo for a reasonable premium.

Seated Liberty Half Dimes: Capped Bust half dimes have charted nice gains, but this series is still asleep. The business strikes present a challenge to complete, with several exceptionally difficult dates. Legend Obverse Proofs (1860-73) present a much more collectible endeavor. (more…)

By Kathleen Duncan - Pinnacle Rarities

The new breed of collector wants the coin regardless of price. I envy them that luxury, but hope they are not made complacent by their equally exuberant under-bidders. The extremely strong prices for the Husak collection of large cents is understandable. These coins are truly rare and may not surface again for years.

Some of the other items experiencing extremely spirited bidding, however, are replaceable. These coins, or their equivalents, have sold recently for far less.

Here are three examples from the recently concluded Heritage Long Beach sale:

1867 25c PCGS MS63 $86,250

It has a PCGS population of 3 with 2 higher. Greysheet is a misleading $1,500 (wake up guys!), but I doubt there are any dealers who would have bought this coin for more than a quarter of the price without having a ready buyer. (more…)