By Doug Winter – RareGoldCoins.com ……
CoinWeek Content material Companion ……
2018 was a decidedly combined yr for the uncommon coin market. In short: fascinating uncommon cash carried out pretty nicely to very properly, whereas uninteresting cash carried out terribly.
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To be extra particular, the uncommon date gold market continued to be among the many strongest—if not THE strongest—space of the coin market. This was very true for collection that have been collector-oriented or have been common for any variety of causes.
Not all uncommon date gold cash have been in demand in 2018. And never all examples of a selected date or sort have been sought-after. It was very straightforward to promote selection, unique early half eagles in collector grades (EF to low-end Uncirculated). However the very same dates/varieties have been troublesome to promote if that they had eye-appeal points. Greater than any time in current reminiscence, collectors needed to personal fairly, pleasing cash and in the event that they have been uncommon or fascinating, a lot the higher.
There have been at the least 4 areas that stood out (in my opinion) in 2018. I base this on how properly they bought on my web site and the way properly they bought once they appeared at public sale. The next listing is predicated on my remark(s) and totally different sellers might have solely totally different perceptions.
CAC-Accepted Early Gold Priced Underneath $15,00Zero
Reasonably priced early gold (the time period is relative, in fact) has been among the many strongest areas in the uncommon coin marketplace for the final 5 to seven years. CAC has completed a superb job at figuring out higher high quality cash and the market has reacted favorably. We now have pricing situations the place a selection AU55 Capped Bust Proper half eagle with CAC approval is value greater than a non-CAC MS61, or the place a CAC EF45 Capped Bust Proper eagle with CAC approval is value greater than an AU55 with no CAC sticker.
1800 $5.00 PCGS AU58 CAC, bought in 2018 by Douglas Winter Numismatics (DWN) for underneath $15,00Zero. Pictures courtesy DWN
Early gold appeals to quite a lot of consumers and could be collected in a variety of methods. Within the “affordable” class, we’re principally speaking about half eagles as quarter eagles are typically costly and eagles–though very fashionable–are typically very arduous to seek out with selection, unique surfaces. Capped Bust Proper (1795-1807) and Capped Bust Left (1807-1812) are the simplest early gold varieties to find with good eye attraction and with semi-affordable worth tags. Therefore their continued reputation.
One other class of early gold that remained highly regarded in 2018 was cash dated in the 1790s. Solely a handful of those may be purchased for lower than $15,00Zero USD but when we broaden our worth level to $30,00Zero, this brings in a number of extra points like 1798 and 1799 half eagles and 1799 eagles. These will proceed to be in demand given the “coolness factor” of any coin dated 179X and even non-CAC items promote shortly if they’re nicer than common.
I anticipate the demand for fascinating early gold priced at $15,00Zero and decrease, and with CAC approval to proceed to be in demand in 2019.
Uncommon Date, Low-Mintage Proof Gold
There’s actually no such factor as a “common” piece of Liberty Head Proof gold. However I might outline a “rare date” as one with an unique mintage of 50 cash or much less. This entails most Proof gold produced previous to 1890.
In 2018, I dealt with fewer Proof gold cash than for almost any yr I can recall. It wasn’t for lack of making an attempt; I really like the low-mintage points from the 1860s and the ’70s, and am a robust market-maker in these cash in grades starting from PR62 to PR66. There simply didn’t appear to be a whole lot of cash out there and I attribute this to elevated demand.
1905 $2.50 PRC PR66 CAC, bought by DWN in 2018; Smaller denomination, affordable price ticket
The Proof gold that appeals to be most are the smaller denominations (gold greenback, quarter eagle, three greenback, and half eagle) with worth tags in the $15,00Zero-40,00Zero+ vary. These cash supply lots of bang on your coin shopping for buck, they usually seem to have develop into actually well-liked of late. I’m engaged on date units of Proof gold dollars, quarter eagles and half eagles for various shoppers, and I used to be capable of promote them significantly extra in 2017 than I used to be capable of in 2018.
I anticipate there to be continued demand for low mintage Proof gold in 2019, however I fear that some specialised collectors shall be turned-off if the availability stays so low in the close to future.
No Motto New Orleans Eagles
Should you gather No Motto New Orleans eagles, 2018 was a superb yr for you. Cash have been comparatively out there (I provided quite a few uncommon and necessary items in 2018), and the long-awaited third version of my e-book on New Orleans gold was launched in the late summer time.
1844-O $10.00 PCGS AU58 CAC, Bought by DWN in 2018 for beneath $10,00Zero
In contrast to the primary two entries on this record, No Motto New Orleans eagles attraction extra thus far collectors and this can be a completable collection with simply 21 points and no unobtainable rarities. Many of those cash may be obtained in comparatively excessive grades for lower than $10,00Zero and even the 2 rarest dates (1841-O and 1859-O) aren’t out of attain for many collectors.
One fascinating statement for this collection is the continued excessive premium for PCGS cash versus NGC cash. Whereas this isn’t all the time deserved, it isn’t uncommon to see a date like an 1852-O or an 1856-O promote for a 25-50% premium in PCGS AU55 or AU58 (or typically even in decrease grades). A part of that is because of the a lot decrease inhabitants figures for a lot of of those points in PCGS, and half is the market’s notion (deserved or not) of the standard of PCGS cash.
I see no purpose why No Motto New Orleans eagles gained’t proceed to be fashionable in 2019. The one caveat I might supply is that sure dates could be impacted by abroad hoards getting into the market, and I might recommend that specialists regularly examine the PCGS inhabitants figures to ensure a selected date hasn’t been “Fairmont-ed”
Selection and Uncommon Liberty Head Quarter Eagles
For years, it appeared like I used to be one of many few consumers who sought selection and uncommon Liberty Head quarter eagles. This appeared to vary in 2017 and in 2018, Liberty Head quarter eagles not solely elevated in reputation however they noticeably decreased in provide.
1868-S $2.50 PCGS MS62 CAC, Bought by DWN in 2018 and really reasonably priced – underneath $6,00Zero
What I’ve all the time appreciated about this denomination is its amassing versatility and the worth that it presents. The Liberty Head collection went on perpetually (1840-1907) and there are almost 150 totally different points. This implies there are tons of the way to gather these cash: by mint, by date, by subset (i.e., late-date Philadelphia cash or Civil Warfare points). Liberty Head quarter eagles supply the collector with a finances of $2,500-7,500 per coin the chance to swim in a reasonably deep finish of the pool. When you’ve got $5,00Zero to spend, you should purchase a reasonably neat quarter eagle; this quantity won’t go particularly far in Liberty Head eagles or double eagles.
In 2017, I dealt with a ton of nice quarter eagles, together with many best recognized and Situation Census cash. In 2018, the availability appeared to dry up and I wasn’t capable of supply almost as many vital cash. I attribute this to strongly elevated demand. As one may anticipate, there are many collectors specializing in Dahlonega quarter eagles. However for the primary time I can recall, the demand is robust for typically-overlooked points from Philadelphia and San Francisco.
I anticipate the demand for Liberty Head quarter eagles to proceed to be robust in 2019. I’m curious to see if the availability will increase as this denomination sometimes is just not discovered in abroad hoards, that are the present supply of many fascinating bigger denomination US gold cash.
What are your decisions for probably the most in demand uncommon date US gold cash in 2018? Please be happy to go away your feedback and observations on the finish of this weblog or ship them to me by way of e mail at [email protected]
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About Doug Winter
Doug has spent a lot of his life in the sector of numismatics; starting amassing cash on the age of seven, and by the point he was 10 years previous, shopping for and promoting cash at conventions in the New York Metropolis space.
In 1989, he based Douglas Winter Numismatics, and his agency specializes in shopping for and promoting selection and uncommon United States cash, particularly US gold cash and all department mint materials.
Acknowledged as one of many main specialised numismatic companies, Doug is an award profitable writer of over a dozen numismatic books and the acknowledged professional on US Gold. His information and distinctive eye for correctly graded and unique cash has made him some of the revered figures in the numismatic group and a wanted vendor by collectors and buyers in search of skilled personalised service, a choose stock of impeccable high quality and truthful and trustworthy pricing. Doug can also be a serious purchaser of all US cash and is all the time trying to buy collections each giant and small. He may be reached at (214) 675-9897.
Doug has been a contributor to the Guidebook of United States Cash (also referred to as the “Redbook”) since 1983, Walter Breen’s Encyclopedia of United States and Colonial Cash, Q. David Bowers’ Encyclopedia of United States Silver Dollars and Andrew Pollock’s United States Sample and Associated Points
As well as he has authored 13 books on US Gold cash together with:
- Gold Cash of the New Orleans Mint: 1839-1909
- Gold Cash of the Carson Metropolis Mint: 1870 – 1893
- Gold Cash of the Charlotte Mint: 1838-1861
- Gold Cash of the Dahlonega Mint 1838-1861
- The USA $three Gold Items 1854-1889
- Carson Metropolis Gold Coinage 1870-1893: A Rarity and Situation Census Replace
- An Insider’s Information to Accumulating Sort One Double Eagles
- The Connoisseur’s Information to United States Gold Cash
- A Collector’s Information To Indian Head Quarter Eagles
- The Acadiana Assortment of New Orleans Coinage
- Sort Three Double Eagles, 1877-1907: A Numismatic Historical past and Evaluation
- Gold Cash of the Dahlonega Mint, 1838-1861: A Numismatic Historical past and Evaluation
- Sort Two Double Eagles, 1866-1876: A Numismatic Historical past and Evaluation
Lastly Doug is a member of nearly each main numismatic group, skilled commerce group and main coin affiliation in the US.