By Doug Winter – www.RareGoldCoins.com

I’ve been working on a third edition of my book on Carson City gold coins. For some odd reason, I’ve been working from back to front, meaning that I’ve done the new research of double eagles before following this with eagles and half eagles. I’ve been able to uncover some really eye-opening new information on the rarity and price levels of Carson City double eagles and I’d like to share a few tidbits.

The last Carson City book that I produced was published in 2001, so almost a full decade has passed. My first impression about the market for Carson City double eagles is that it has become far, far more active than ever. Prices have risen significantly since 2001, especially for rarities and for high grade pieces.

In 2001, the five rarest Carson City double eagles in terms of overall rarity (i.e., total known) were the 1870-CC, 1891-CC, 1871-CC, 1878-CC and 1879-CC (these last two issues were tied for fourth rarest). In 2010, the five rarest Carson City double eagles in terms of overall rarity are the 1870-CC, 1871-CC, 1891-CC, 1879-CC and 1885-CC (these last two issues were tied for fourth rarest).

The 1870-CC has remained an extremely rare coin, despite a surprisingly high frequency of auction appearance in the middle part of this decade. I had previously thought 35-45 were known. Today, I think that number is around 40-50. This includes a number of low grade coins and at least five or six that are either damaged or cleaned to the point that can not be graded by PCGS or NGC.

The rarity of the 1891-CC seems to have diminished quite a bit. I think there are two reasons for this. The first is that I overestimated its rarity in 2001. The second is that a significant number of examples have been found in Europe and other overseas sources. This date hasn’t become plentiful in higher grades but it is far more available in AU50 to AU55 than I ever remember it being before.

The 1871-CC seems more available as well. In 2001, this issue was very hard to find in any grade and it was almost never seen above AU50. Today it is more available and the number of coins graded AU53 to AU55 has risen dramatically. I would attribute much of this to gradeflation as the majority of the 1871-CC double eagles that I see in AU53 and AU55 holders are “enthusiastically” graded, to say the least. In properly graded Mint State, the 1871-CC remains exceedingly rare.

A date whose rarity has become more apparent is the 1885-CC. In the 2001 edition of my book, this date was not even listed in the top six rarest Carson City double eagles. I now rank it as being tied for fourth along with the 1879-CC.

Everyone loves a sleeper, right? The dates that I believe are underrated (and undervalued) in the Carson City double eagle series include the 1872-CC, 1877-CC, 1882-CC and 1892-CC.

In higher grades (AU50 and above), the rarity scale of the Carson City double eagle series has remained remarkably consistent. In 2001, I stated that the 1870-CC, 1871-CC, 1879-CC, 1878-CC, 1891-CC and 1872-CC were, in that order, the six rarest issues. In 2010, I believe the six rarest are the 1870-CC, 1871-CC, 1878-CC, 1879-CC, 1872-CC and 1891-CC. In other words, the same six dates are still the keys in higher grades but there are now some minor changes in the order. (more…)

By Vic Bozarth – Bozarth Numismatics
Vic is our Newest CoinLink Content Partner. He will be providing Regular Market Reports and articles

As I write this on Labor Day 2010, I can’t help but reflect on the trends I have seen in the coin business over the last 25 years. Generally speaking the coin business during the Summer months, June through August, is flat. Of course, the ANA Show highlights the Summer show schedule, but other than the marathon it has become, the other shows are somewhat sparsely attended and well ‘flat’. With only a couple of exceptions, the Summer doldrums have lived up to their name. People are on vacation, taking time off, and hopefully spending some time with family and friends. Thank goodness Summer is over. Let’s do some business.

Business picks up during the Fall and early Winter months. Folks are done with their vacations, the weather is forcing them inside, and the coin market recognizes this most years and gets more active. We are already starting to see this trend in the bullion markets.

The two big questions you should focus on are: Where is the business going this Fall? How can you best take advantage of the market as it stands right now?

Gold and Silver bullion prices are moving up. While we specialize in rare high grade U.S. coins, we recognize and believe that bullion prices will continue to rise. How can you take advantage of this trend. U.S. gold coins are a great way to both hold and invest in bullion and take advantage of the low premiums that they currently carry in relation to their historic price levels. Let me illustrate this with an example.

During the last couple of months of 2009, gold bullion price levels bounced around $1200 per ounce. The ‘blue’ chip U.S. gold type coins that are most bullion sensitive, $10 and $20 gold coins, were extremely active.

The market peaked in late 2009 and to illustrate this I have listed wholesale price levels for actively traded gold coins then vs. now. Note the difference in the price of gold itself.

2009 Spot Gold $1195/ounce ……… 2010 Spot Gold $1250/ounce

What I am trying to illustrate is how ‘demand’ can really affect the wholesale price levels of coins, especially gold. During late 2009 there were some major institutional orders for these type of coins. This pushed demand/prices up and we sold into this peak of the market. Currently U.S. type gold coins are trading for significantly less yet the price for gold bullion is nearly $1250 per ounce. Do you see the disparity? (more…)

By Mark Benvenuto – The California Numismatist Magazine

If you are like many collectors, you may have spent a bit of time wondering just where our hobby has been going since 2007. With the economic slump, then the proclamations of recovery, you can’t help but wonder where that recovery really is when gold flirts with price tags like $1,250 per ounce, and when silver gets close to $20 per ounce. It makes a person wonder if there I still anything out there that doesn’t automatically have a hefty price tag slapped on it.

For all of us who pine for some bygone day when coins were cheap (if there ever really was one), we present for your collecting pleasure a laundry list of what can still be added to a collection for $20. Here we go.

First: Dealer bargain bins of cents, nickels, dimes, and quarters.

If you have always been the type of collector to wander past these jumbled, often chaotic offerings, slow down. Smell the roses, as it were. Dealers often buy large numbers of coins for a select few within the group that they know they can sell for a profit. This isn’t being crafty, sneaky, or cheap. Dealers have to live and have to eat. The coin business isn’t the grocery business, meaning you can’t eat what you don’t sell. The profit they make the difference between what they spend for a coin, and what they sell it for it what keeps the food on their tables. So, what happens to the many coins in a purchase that aren’t really big ticket items, but that might have been purchased along with those potential gems? They end up in the bargain bin.

Also known as the junk box, dealer bargain bins can be the home of some wonderful U.S. coins. Proof quarters, nickels, dimes, and cents that have been cracked out of US Mint cases sometimes end up here, often for only a dollar or two. A person with a bit of patience can assemble a date run of any or all of these denominations. Additionally, there are plenty of bins that have been sorted according to denomination and series. Wheat back cents come quickly to mind as a coin that ends up in plenty of “copper bargain bins,” if that is a proper term. Loads of these go for much less than a dollar per coin.

Older Jefferson nickels, as well as well-circulated Buffalo nickels, are also the stuff of bargain bins. Silver isn’t entirely absent from the bargain bin either. Roosevelt dimes are often found in them, as well as some of the more common Mercury dimes. A person with a keen eye and some patience can assemble some good looking date runs for $20 or less. If you move up to quarters, you’ll receive less of them for your $20 than you will dimes, but some careful searching can land you a handful of silver Washington, or even Standing Liberty, quarters. Certainly, these won’t be mint state specimens, but they can still be handsome coins.

Second: Silver dollars in circulated, but attractive conditions.

Okay, if smaller U.S. coins aren’t your bag, there are still some bargains to be had among what are arguably the most collected of US silver coins, the Morgan and Peace dollars. Those big, fat Morgans are not entirely out of reach, although $20 will only get you one. The common dates, such as the 1879, the 1880, the 1880-S and the 1881-S to name a few examples, can be had for about $20 each in grades such as very fine. Again, these aren’t mint state gems, but they aren’t dogs either.

The tail end of the Morgan dollar series also has a few promising items. Specifically, the 1921, as well as its siblings from Denver and San Francisco, can all be had for about $20 per coin in a grade such as extra fine. There’s a pretty trio that a person on a budget can still collect. The Peace dollars are just about always check by jowl with the Morgans when it comes to dealer selections. The most common Peace dollar is the 1922, with a mintage of a whopping 51.7 million coins to its official tally. Today you can nab one in almost uncirculated condition for $20. But don’t stop with just this one Peace dollar. Take a look through any of the reference price lists and you’ll find several of these large, silver disks that list at just about the same price tag. (more…)