Bowers and Merena Auctions, America’s leading rare coin and currency auction house, premieres its first of two official American Numismatic Association auctions for 2009 this March. The auction will take place at the Oregon Convention Center in Portland, and begins with lot viewing Wednesday, March 11, to Friday, March 13, followed by the two-session auction on Thursday, March 12, at 6 p.m. PST and Friday, March 13, at 6 p.m. PST.

The top lot in Bowers and Merena’s Official Auction of the ANA National Money Show™ is lot 1455, the Pittman Specimen of the Proof 1854 Type II Gold Dollar graded Proof-64 Deep Cameo by PCGS, an extraordinary rarity in the U.S. gold coin series with just four specimens known to exist. Two of the proof 1854 Type II Gold Dollars known are impounded in museum collections, and as such, only two specimens are available for private ownership, including this example being offered in Portland.

“This is one of the most rare and important proof gold offerings of all time from Bowers and Merena Auctions,” said Steve Deeds, president. “The collector who purchases this lot will be joining a highly select group of numismatists. Only a handful of collectors have ever had the opportunity to own a proof 1854 Type II Gold Dollar, and some notably absent from the list of previous owners of these coins are numismatic luminaries such as Louis E. Eliasberg, Sr., Floyd T. Starr, Ed Trompeter and Harry W. Bass, Jr. This is a very special coin and quite a pleasure to present it at our first official ANA auction of the year.”

An exciting complement to the 1854 is lot 1458, a jaw-dropping 1855 Type II Gold Dollar, a fresh PCGS MS-67. The coin offered in this lot – an example of the Philadelphia Mint’s 1855-dated delivery – ranks high in the Condition Census for not just the issue, but the type as a whole. In fact, this coin is tied with just three other 1855s and a mere two 1854s for highest-graded honors among Type II Gold Dollars that have been submitted to PCGS. “This is a first-rate condition rarity, and a breathtakingly beautiful coin,” said Deeds. “This piece would serve as a highlight in the finest numismatic cabinet, and to have both of these incredible Gold Dollars in the same auction is really unprecedented.” (more…)

By Doug Winter RareGoldCoins.com

Editors Note: Usually we do not post two Market Reports together, however we wanted to give our readers a contrast of two perspectives on the recent Long Beach Show from two dealers whose opinions we highly respect .

Even in the best of markets, I go to Long Beach with limited expectations. I love the convenience factor (it’s one of my few sub-two hour flights) but this show has, in my experience, really lost its luster. Keep on reading for my thoughts on the Decline of Long Beach and a recap of the show.

I think there are two significant reasons why Long Beach has gone from a great coin show to a so-so one. The first is the high price of the tables. Back when tables were more competitively priced, there were tons of small coin shops, Mom-n-Pop dealers and vest pocket dealers who had their own tables or shared them. This was a great source for fresh coins and it meant that there was a lot of coin trading as items went up the numismatic food chain. Now, these dealers no longer attend and this means that there is very little fresh material.

The other reason that Long Beach has suffered has to do with the draconian California tax laws. I’m not going to address these at length but let’s just say that Baltimore has become a great show in large part because Maryland’s tax laws are not quite as “zealous” as our friends in California.

As I said, I went to Long Beach with low expectations. I actually think the show was a bit better than I would have expected. The crowds were decent and my sales were not bad. I was happy with the limited number of coins that I bought and virtually everyone who I spoke with had a good—if not great—show. I think a lot of a dealer’s success right now has to do with what he deals in and his or her desire to sell older inventory at new levels. Simply put, if you have nice quality collector-oriented coins in your inventory, they sell. If you have a bunch of expensive, esoteric coins or boring widgets in stock, you aren’t selling much. If you have coins in stock that have been sitting around since June and you haven’t adjusted the prices downwards, you aren’t selling anything. (more…)

The American Numismatic Association’s 2009 Portland National Money Show™ gives visitors the opportunity to see rare coins and paper money, and interact with the country’s premier numismatists. The show, held March 13-15 at the Oregon Convention Center, features marquee and collector exhibits, educational presentations, and hundreds of top dealers.

“The ANA is thrilled to be coming back to this great numismatic city,” said ANA Executive Director Larry Shepherd. “The Portland National Money Show in 2004 was one of our best, and high dealer interest, great educational activities and impressive exhibits point to an even better show this year.”

The marquee exhibits are highlighted by the Linderman-duPont specimen 1804 Draped Bust silver dollar. Insured for $3.5 million, this will be the first public display of the coin outside the ANA Money Museum in Colorado Springs since its recovery 16 years ago from a famous theft decades earlier.

Other fascinating exhibits include the world-famous McDermott-Bebee specimen 1913 Liberty Head nickel from the ANA collection, and a display by the Oregon Historical Society of the legendary “Portland Penny,” used in 1845 to determine the city’s name.

“Settlers Francis Pettygrove of Portland, Maine and Asa Lovejoy of Boston, Massachusetts flipped the penny to determine whether the area, then known as The Clearing, would be named Portland or Boston. Pettygrove won the toss two out of three times,” said George Vogt, Executive Director of the Oregon Historical Society. (more…)