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All Posts Tagged With: "John Dannreuther"

20th Century Gold Club Holds Fascinating Meeting During FUN Convention

By Greg Reynolds for CoinLink

I. Introduction to the Club and this Meeting

On Wednesday, Jan. 6, 2010, the 20th Century Gold Club conducted their fifth meeting at a hotel near the Orange County Convention Center in Orlando where the January FUN Convention was held. In the field of choice and rare U.S. coins, the annual Winter FUN Convention is one of the leading events of the year.

This club is private, small, exclusive, and sophisticated. I am honored to have been invited to attend. Moreover, I feel privileged to have the cooperation of the founders for the purpose of writing about the proceedings and communicating the educational and other purposes of this club to coin enthusiasts at large. Some of the presentations and discussions at the event were truly fascinating and the enthusiasm of the members for coins filled the atmosphere. The event was stimulating and fun.

The current president, Jay Brahin, directed the meeting. The speakers were David Hall, John Albanese and John Dannreuther. David Hall is the primary founder of the PCGS and he is currently the CEO of its parent company. Hall is an expert in early 20th century U.S. gold coins.

Hall spoke about the new PCGS program of identifying coins that each have a market value of $1 million or more, the “Million Dollar Club.” I asked if coins in museums are included, and I was surprised that they are with rather specific estimated values. I also asked why the two unique 1797 Half Eagles in the Smithsonian are not on the list. Reportedly, these two 1797s are the only known survivors of two different, readily apparent varieties. Additionally, Hall voiced intriguing comments regarding PCGS estimates of the values of 1933 Double Eagles.

In the second part of David Hall’s presentation, he introduced the results of research at the PCGS regarding the market values in 1970 of Saint Gaudens Double Eagles. The tricky part of such research is determining how specific coins in 1970 have or would be later graded by the PCGS, so price appreciation of specific dates in specific grades can be tracked and analyzed. Though David Akers voiced a critical remark or two regarding such values, most of the members of the club were impressed by the data and astonished by how low the prices were for such terrific coins in 1970. As an aside, note that Dr. Duckor has long argued that gem quality, better-date early 20th century gold coins were not really appreciated until the 1980s. One of the purposes of the club is to bring about a greater appreciation of early 20th century gold coins. (more…)