by Greg Reynolds for CoinLink

The consignment from Ed Price is one of a dozen very impressive collections that are included in the official auction that will be conducted by Heritage at the Summer 2008 ANA annual convention in Baltimore. The Stephen Stokely collection of Saint Gaudens Double Eagles ($20 gold coins) is more valuable. The Bayside collection of half dollars might appeal to a larger number of collectors. The “University Drive” collection of Buffalo Nickels is more understandable to collectors of 20th century coins, and especially to connoisseurs of nickels. It contains a few six figure Buffalo Nickels, which will astound many enthusiasts. The Ed Price collection, however, is exceptionally engrossing.

Collectors have been eagerly waiting, for many years, to bid on Ed Prices’ early dimes and $2½ gold coins (Quarter Eagles). In terms of minting varieties of Draped Bust dimes (1796-1807), Price’s collection is certainly the most complete of all time, and the most fascinating.

Consider that one of his 1796 dimes, to be sold as lot #1414, is the only known coin of a particular variety, which was just discovered in 2002. An 1802 dime, formerly in the Allen Lovejoy collection, is also unique as the sole representative of a particular die variety. See lot #1429.

Though Price was focused on varieties rather than on gem type coins, he did acquire some very high quality dimes. One of his 1796 dimes is NGC graded MS-67. It was earlier in the James A. Stack collection of dimes, which is the all-time best collection of classic dimes, those minted from 1796 to 1916.

Another gem dime in the Price collection is an 1807. It is PCGS graded MS-66, and the CAC has determined that its grade is a “solid” MS-66. Additionally, it seems that the blank piece of metal, before it was struck into a coin, was clipped. It is not completely round, and thus is clearly distinctive. Though I have not yet seen the coin, the online images suggest that it may have appealing luster and natural light, brownish-russet toning. (more…)

Am I the only person who finds it astonishing that another ANA is upon us? Jeez, it seems like I just got back from last year’s Marathon in Milwaukee. But here we are already in late July and it’s time for the Battle in Baltimore. What can we expect from this bellwether show?

If you are of a certain age, you remember when ANA was THE coin show of the year. It still is a critical event on the coin circuit despite being somewhat watered down; with pre-shows and a zillion auctions held before, during and after. This is my 26th consecutive ANA (I have attended every one since the 1982 Boston show) and I still feel a tinge of excitement as the days countdown.

My gut feeling is that this year’s ANA is going to be very strong from a wholesale standpoint and decent but not great from a collector standpoint.

With the uncertainty in the economy (and that’s putting it a bit mildly with today’s headlines…) I have the feeling that some would-be buyers are either going to avoid the temptation of the ANA or, if they do attend, it will be more for social and educational purposes than for buying.

Does that mean that there won’t be any action on the bourse floor? Hardly. Really good coins sell very well if the economy is soaring or circling the drain. The pool of potential buyers may not be as great in a bad economy but the number of great coins is much smaller now than in the past. Any dealer who has a case full of interesting coins at the ANA will certainly do retail business. Just not as much, I think, as two or three years ago.

Remember when I mentioned above that I think the show will be good from a wholesale perspective? Coin dealers making a living dealing coins and, at this point in time, nearly all dealers are short of useful inventory. Whether they can pay for these coins is an entirely different kettle o’ fish but I think the wholesale demand for coins right now remains strong.

What will sell at ANA? The Usual Suspects. Very high quality, choice original coins in nearly all categories will be easy sellers, as will key dates and rarities. Early gold and Proof gold continue to be in demand and examples for sale on the bourse should be very actively sought since the auctions do not contain as much of this material as usual. CAC certified coins appear to be readily gaining in acceptance and popularity and many dealers will have long want lists for CAC’d material. (more…)

The Bayside New York Collection contains an incredible 100-plus half dollars minted between 1794 and 1807. Heritage will offer this wonderful assemblage as a Featured Collection in the upcoming 2008 July-August Baltimore, MD (ANA) US Coin Signature Auction.

Early half dollars are a favorite - albeit challenging - series among advanced collectors. Their fascination with die varieties is one of the very oldest traditions in American numismatics. Using his keen eye, the consignor assembled a collection featuring an abundance of beautiful variety examples over many years. The collection is sure to attract early half specialists, as well as type collectors seeking beauty and rarity.

Without any question, the cream of the Bayside New York Collection is the complete selection of 1796-1797 varieties. This is the second time that all four varieties of the Draped Bust, Small Eagle type consigned from one collection has crossed the Heritage auction block; the first time was the Reiver collection in January 2006. To put this achievement in its proper context, we are aware of only three other times ever that an auction has contained all four varieties from a single consignor.

The Bayside name came from the area where the consignor grew up and discovered coin collecting. He bought his first group of bust halves (about 20 of them, at 55-cents each!) late in WWII, when a neighborhood friend needed to raise cash. With a library copy of Beistle as his guide, he started down the path to becoming an expert in the series. Over the decades, while he collected many different series, he always pursued the early halves first. Even while stationed in the Pacific, this career Navy officer was able to continue collecting, thanks to the excellent FPO mail system. When stateside, he entertained Al Overton in his home. After his retirement, he took tables at dozens of coin shows to get first crack at the early halves on the market.

Highlights, many of which have video descriptions, of the Bayside New York Collection include:

• 1794 50C, O-101 VF30 NGC.
• 1794 50C, O-106, R.6 VF35 NGC.
• 1795 50C Two Leaves, O-101, R.7 VF20 NGC.
• 1795 50C 2 Leaves, O-105 XF40 NGC.
• 1795 50C 2 Leaves, O-106, R.6 VF20 NGC.
• 1795 50C Two Leaves, O-120, Low R.7 XF Details NCS.
• 1796 50C 15 Stars, O-101, R.5 AU58 PCGS.
• 1796 50C 16 Stars, O-102, High R.5 VF30 PCGS.
• 1797 50C O-101a, High R.4 VF30 NGC.
• 1797 50C O-102, Low R.6 VF35 PCGS.
• 1805/4 50C O-103, R.5 XF40 NGC.

By Kathleen Duncan for Pinnacle-Rarities

That is the question. The Collector’s Acceptance Corporation was founded by John Albanese, one of the industry’s top experts. His goal is to address the problem of low-end certified coins dragging down the bid levels. While PCGS and NGC do an excellent job, both have been grading coins for over 20 years. Inconsistencies are inevitable, resulting in coins that probably shouldn’t be in their stated holder. These problem coins are difficult to sell, becoming a large percentage of the available product on the market and suppressing bid levels. For example, if a Barber 50c in PCGS PR67 sells in auction for $5000, it probably is not a particularly pleasing coin, but CCDN (AKA the Bluesheet) picks up this bid. We would probably charge over $7500 for an attractive and properly graded PR67.

Are some coins worth 50% more than others in the same holder?
Yes. One of CAC’s goals is to establish a market for those premium quality coins and post bids for coins with their sticker of approval. PCGS and NGC are of equal value, if CAC approved.

Should you purchase CAC coins exclusively?
No. This would unnecessarily limit your buying options, as only a small percentage of the coins graded by PCGS and NGC (the two services CAC recognizes) have been submitted. Also consider CAC is offering an opinion, just like PCGS and NGC have done. If you had different numismatic experts grading at CAC, would different coins get approved? Absolutely. A particular mark or variety of toning may disturb some numismatic experts and not others. Grading is exceptionally subjective, and collecting is a highly personal experience. There is simply no substitute for viewing the coin in hand.

Should you send your coins to CAC?
Maybe. If you are planning on selling them at auction, it’s not a bad idea. Due to the number of online and phone bidders, a CAC approved coin may realize a higher price than an equally nice non-CAC one. This seems especially true of NGC material. If you are planning on selling them privately, not unless the dealer you work with will pay more for CAC approved coins. For most dealers this is not the case. If selling is not in your immediate plans, reassess the market in the future. If CAC is a dominant market factor, their policies or stickers or any number of factors may have changed. (more…)

Heritage is pleased to offer the newly discovered ninth known specimen of the rare 1817/4 overdate half dollar to the numismatic community. ICG grades this piece VG8, and indicates on the insert the Overton variety, “9th Known,” and “Obv. Scratch.”

The discovery was announced in the December 17, 2007 issue of Coin World, that says a Colorado woman, who requested anonymity, received the coin from the dispersal of her father’s coin collection to her and her three siblings 10 years ago. She indicated that she received several silver dollars, as well as many foreign coins he obtained during his military service in World War II. She said she did not know how the 1817/4 Capped Bust half dollar came to be in his possession.

According to Coin World, the woman, who believed the half dollar might be something special, purchased coin reference books over the past eight years in an attempt to place a value on the coin. After turning down an offer of around $100 from a local Colorado Springs dealer, she took the half dollar to the headquarters of the American Numismatic Association in Colorado Springs, where she was referred to Independent Coin Grading (ICG) in Englewood, a suburb of Denver.

Donald Parsley’s 2005 rewrite of Al Overton’s United States Early Half Dollar Die Varieties, 1794-1836 indicates that a later die state of this variety (O-102a) has “… a die crack spanning the entire obverse, from edge above upper peak of cap and running downward across cap, lobe of ear, lower curl and just right of 7 to edge.” In addition to the current coin, three others are classified as O-102, and five as O-102a (see roster below)

The 1817/4 half dollar was first announced to the numismatic community in the October 1930 issue of The Numismatist, under the “Editorial Comments-Numismatic News” section. The commentary, entitled NEW VARIETY OF HALF DOLLAR OF 1817 REPORTED, says:

“E.T. Wallis, of Los Angeles, Cal., writes that he has recently discovered a heretofore unknown variety of the 1817 half dollar, the last figure of the date being cut over a 4. A number of half dollars of 1817 over ‘13 are known, but this is the first one over ‘14 reported, Mr. Wallis says. He also says the coin is practically Uncirculated and the overdate can be seen plainly. The reverse is also an unlisted variety, as both I’s in United and America have the lower ceriphs broken off diagonally toward the right, and the I in United also has the left side of the top ceriph broken off. The obverse shows a die break across the coin, starting from the border to the right of the figure 7 and through the ear and between B and E of Liberty to the top of the border. Mr. Wallis thinks the die may have been cracked when the 7 was cut over the 4 and the die may have been broken when the striking began. Howard R. Newcomb, of Los Angeles, and M.L. Beistle, of Shippensburg, Pa., both authorities on the half-dollar series, have examined the coin and pronounced it a hitherto unknown variety.”

Why were so few 1817/4 half dollars apparently minted? Part of the reason may stem from Wallis’ thought above that the die may have broken when the 7 was cut over the 4, which had been partially effaced by Mint personnel. We might speculate that this effacing weakened the die, causing premature failure after just a few strikings. In this regard, it is interesting to note that the 1817/4’s cousin, the 1817/3, did not have the 3 effaced, and was produced with a considerably higher mintage. (more…)