The recently concluded Boston ANA World’s Fair of Money provided CoinTelevision Producer David Lisot ample opportunity to discuss the current market conditions with a variety of dealers and numismatic personalities.

Over the next few days CoinLink will present several of these short interviews along with some of the National Mint press conferences which highlight new coins that are going to be releases this coming year.

Our first installment presents Ed Reiter, well known numismatic writer and current editor of Coinage Magazine.

Ed recently retired after 50 years as a newspaper writer and copy editor, including nearly a decade as coin columnist for the Sunday New York Times. He remains senior editor of COINage, a monthly hobby magazine where he have held this post, working from home as a sideline to his newspaper work, for more than 23 years.

ED also handle free-lance writing and editing projects, mostly related to coin collecting but sometimes on unrelated subjects. He is the author of “The New York Times Guide to Coin Collecting,” a book published by St. Martin’s Press in 2002. Since 1990, he have been executive director of the Numismatic Literary Guild, a professional organization made up of several hundred writers, editors and others around the world who help disseminate information about the hobby.

Trio of ‘Lucky Number 8’ Lunar Kilo 10,000 Yuan gold pieces top $480,000 combined prices realized in Heritage event

International coin rarities continued to assert their growing numismatic strength during the Aug. 11-16 Heritage Auctions Boston ANA World’s Fair of Money trio of auctions, realizing more than $8.6 million in Heritage Signature® World Coin Auction, part of the overall $46+ million total of the combined auction events.

More than 2,860 collectors were on hand – whether on the auction floor or online via Heritage LIVE!™ – to bid on the more than 3200 offerings assembled for the auction, which translated into a sell-through rate of more than 94% by value.

“This auction offered one of the strongest groupings of any World Coins event we’ve held yet,” said Warren Tucker, Vice President of Heritage World Coin Auctions, “and international collectors, I think, recognized that. As a result we saw excellent prices across the board, especially where British rarities were concerned; the Highlands Park Collection brought more than 30%-40% than our pre-auction estimates.”

The trio of Chinese 10,000 Yuan Lunar Kilo coins that took the top three spots in the auction showed that Chinese collectors are asserting their willingness to claim their nation’s numismatic treasures. It was an extremely rare Lucky Number 8 Year of the Dog 2006 Lunar Kilo 10,000 Yuan, Gem Ultra Cameo Proof, that led the pack with a final price realized of $162,627. That coin was very closely tailed by a Lucky Number 8 Year of the Horse Lunar Kilo 10,000 Yuan 2002, Gem Ultra Cameo Proof and a Lucky Number 8 Year of the Rooster Lunar Kilo 10,000 Yuan 2005, both of which brought $161,000. All prices include 15% Buyer’s Premium.

“The number 8 is widely regarded as a universally lucky number in Chinese culture,” said Cristiano Bierrenbach, Vice President of International Numismatics at Heritage, “and it proved very fortunate for Heritage in this auction, as well. We’re currently in a 20 Year cycle of the number 8, which began in the lunar year of 2004 and runs through 2024. All 15 of the Chinese Kilo Lunar issues are rare, but there is only one number 8 for each issue, hence the heated competition to acquire these beauties.”

Chinese rarities were not the only coins bringing seriously high bids, as the rest of the auction’s Top 10 lots show, with the top seven lots all breaking the $100,000 threshold. As closely bunched as the prices of the top three lots were, they were again followed closely on the heels by a previously unknown 1928 George V Specimen Sixpence, KM16.1 for type but an unlisted date, SP63 NGC, Reeded Edge, struck in .925 (sterling) silver, which saw spirited bidding between several collectors before finishing at $155,250.

Russian rarities proved popular in the Heritage Boston ANA World Coin auction, led by a spectacular Nicholas II Proof gold 25 Roubles (2 1/2 Imperials) 1896, Bit 312 (R2), Fr-171, Proof 61 NGC, which brought $149,500. This coin was thought to be a special commemorative issue for the Coronation of Nicholas II and was issued in a tiny mintage of 301 pieces, of which very few examples are known to survive.

The Edward Roehrs Collection of U.S. Regulated Gold proved to be one of the most exciting highlights of the auction, one of the most hotly contested groupings, as collectors seriously went after the important offerings in it, including an historically important Myer Myers regulated Half Joe marked by New York’s most famous Jewish goldsmith, perhaps unique, Brazil. Jose I 6400 Reis 1771-R, Rio mint, KM172.2. EF-45, which brought $92,000, while a Chilean Carlos III 8 Escudos 1775 DA. Santiago mint. EB in oval for Ephraim Brasher, KM27, VF, coin of great historicity and collectible appeal – a genuine Brasher doubloon – realized $80,500. (more…)

by John Feigenbaum – Stella Coin News

Well, another ANA Show has come and gone. I think this was my 22nd consecutive ANA and they all have a similar flavor no matter what the outcome. In a word…”long”. They have always been too long because there have always been “pre ANA” shows the weekend prior with important auctions, so we’ve always attended both shows and stayed the duration.

“Ok, enough whining” you say. “I feel your pain. It’s sooooooo hard being a coin dealer. You are forced to visit exotic cities, stay in fine hotels and eat out at top-notch restaurants and all you can do is complain.” Yes, that’s all true but it is indeed very hard work and staying away from home for extended periods of time has never been my strong suit. So, I always have high expectations for ANA shows but they rarely match up.

This show (I will combine the two shows for convenience), like others, was a marathon rather than a sprint — but is especially noteworthy because we came back with the best set of new purchases that I ever recall.

I have read on other dealer’s blogs that “great coins are red hot, yada yada yada”. But if you carefully read between the lines, you will still see that the majority of “great coins” are generally cheaper today than they were a couple years ago. It’s a very selective market, as all collector markets are, and the reality is that some collectors need to sell some big coins for reasons other than profit. I don’t recall ever having been to an ANA show where I saw more great five- and six-figure coins available for sale. We sold some great coins like our 1932 Saint PCGS MS66 and we bought even more great coins because I think this is one of those rare, historic moments when cash is king — and one cannot find these coins at anywhere near reasonable levels in a hotter market.

Examples of new purchases from the ANA Show:

1794 $1 PCGS XF40

1796 No Stars $2.50 PCGS XF40

1848 CAL. $2.50 PCGS AU50 (sold @ show!)

1796/5 $5 PCGS XF45

1930-S $20 PCGS SecurePlus MS65+

As you can see these are great coins. Of course, we didn’t limit ourselves to major rarities, and we have scores of other exciting collector coins that have been untouchable these past few years. Please keep an eye on the web site as these coins appear. (Or send me an email if you want more information on any of these.)

The Mood of the Show

“Ok, you say. Enough shameless promotion of your new purchases at the ANA show. Any dealer can do that and it’s not informative.” Ok, you’re right. Somehow we have to pay the light bills around here so please forgive me the transgression…. The show came in like a lamb and went out like a lion. Plain and simple. The pre show was entirely dealer-driven and dealers came to the show very tentative. Everyone wanted to see if anyone else was buying so it was generally a hot, boring affair. We slogged it out and did a fair amount of business, but it was the same business we’d do at ANY show, so that’s not exciting. (more…)