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Dan Holmes’ Sale Yields First Million Dollar Large Cent

Posted in Chris McCawley and Bob Grellman, coin condition, coin investments, collector investments, Dan Holmes Large Cents, Gammill Numismatics, Ira and Larry Goldberg, key date investments, large cents, Million dollar coin, Million Dollar Large Cent, Noncollectible large cent varieties, numismatics, rare coin investment, Stand Alone Coins for Investments, tagged 1793 Sheldon-14, 1795 Reeded Edge Sheldon-79, 1804 Sheldon-266c, H Graig Hamling, Million dollar coin, million dollar large cent video, Mint State 1799 Sheldon-189, Sheldon-Holmes Color Set on September 7, 2009| Leave a Comment »

Part I, the” EARLY DATES”, of the Dan Holmes Large Cent Auction has elevated several of those special Early American Coppers to a new height. The legendary 1795 Reeded Edge Sheldon-79 brought $1,260,000 (with the 15% buyer’s commission); a new record price paid for any US Large Cent. For a video replay of this lot use this link(1). Apparently purchased by a dealer for a serious large cent copper specialist. However, it wasn’t the only star amongst the group. Lot 352, the Mint State 1799 Sheldon-189, considered by many to be the most valuable large cent in the auction, came in a close second at $977,500 (including the commission). Marvelous results for all Large Cent collectors and investors.

But that’s only the beginning. Lot 24, the Finest Known Bisected Obverse 1793 Sheldon-14 was hammered down at $506,000 including the buyer’s commission. Then there was Lot 531which was the Unique Certified Mint State 1804 Sheldon-266c graded MS 63 BN by PCGS that fell at $661,250 with the commission.

The Sheldon-Holmes Color Set which consisted of 6 Colonials and 60 Large Cents sold for $37,950 with the 15% commission.

We will have a more detailed analysis as we digest the results. Congratulations Dan and Family, Ira and Larry, and of course Chris and Bob.

(1) Video Courtesy of H Craig Hamling.

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Noncollectible Large Cent Varieties in the Dan Holmes’ Collection

Posted in Dan Holmes Large Cents, Gammill Numismatics, Ira and Larry Goldberg, large cents, Noncollectible large cent varieties, numismatics, tagged 1794 NC-9, 1795 "Unique" Jefferson Head NC-4, 1800 NC-4 EDS, Bob Grellman, Chris McCawley, Dan Holmes’ Collection, Gammill Numismatics, Ira and Larry Goldberg’s auction, Jefferson Head 1795 NC-1, Noncollectible large cent varieties on August 26, 2009| Leave a Comment »

Ira and Larry Goldberg’s auction of the Dan Holmes collection of Large Cents, in collaboration with Chris McCawley and Bob Grellman, will offer the large cent collector an opportunity to bid on a total of 68 NC varieties. There are 55 NC varieties recognized by collectors and Dan was able to assemble 54 of the 55. The one missing from his collection is the unique (1795 NC -5) which is located in the American Numismatic Societies Museum in NYC.

In Dan’s collection of NC varieties there are 14 coins where there are duplicates. Several of those NC varieties are of considerable interest and value. For example, Lots 77 and 78 are examples of the 1794 NC-9, R7+. Lot 77 is net graded Good-5 but the reverse vertical die crack is very weak (EDS, Breen state 1). In the case of Lot 78, net graded About Good-3, the sharpness is slightly better and the reverse die crack is very strong indicating its LDS. There are only four known examples of the 1794 NC-9 variety, two of which are in Holmes’ auction. The census of these four examples are, 7-6-5-3. The estimated value of these two lots is in the $20,000 range. The VG-6 example was sold in February 2008 by Superior Galleries for $36,500.

Lots 129 and 130 offer two examples of the Jefferson Head 1795 NC-1, R8+. Lot 129 is the “Unique” Thick Planchet Jefferson Head with Lettered Edge of 1793. One of only three examples of the 1795 NC-1 and the only one struck on a thick planchet. Graded by PCGS as Fine-15 and by McCawley/Grellman as Fine-12. Estimated value for Lot 129 is $50,000. Lot 130 is the thin planchet example of the NC-1 of which there are only two known examples. Lot 130 grades as a Fair-2 with an estimated value of $20,000. The second example has a grade of VF-20.

Lots 132 and 133 are also a pair of Jefferson Head NCs. Lot 132 is the 1795 “Unique” Jefferson Head NC-4 (R8+) Thick Planchet Overstruck on a 1795 NC-1. The coin is holed at the top of the head but is the second finer of only two known for the variety and grades Fair-2. It is also unique that it is overstruck on an NC-1 thick planchet! This varieties estimated value is $20,000 and UP. This is truly a unique specimen. Lot 133 is another “Unique” Jefferson Head NC-4. This Jefferson Head is struck on a Thin Lettered Edge Planchet and grades Good-5. The estimated value of this NC-4 is $30,000.

There is also Lots 394 and 395. Lot 394 features an Outstanding 1800 NC-4 EDS. It is the finest known of eight examples in all die states. It grades EF-40 and is the Noyes plate coin. Estimated value is $20,000. Lot 395 is the 1800 NC-4 in MDS and grades Fair-2. Estimated value is $4,000.

A complete listing of the NC varieties is listed in the table below. It offers a unique opportunity for the large cent specialist.

Table: A listing of the NC varieties in the Dan Holmes Collection being offered by Ira and Larry Goldberg on September 6, 2009.

*Lot*	*Year*	*NC #*	*Rarity*	*Grade*	*Estimated Value*	Realized (+15%)

4	1793	NC-1	R8	BS1+	$10,000	$28,750
7	1793	NC-2	R8+	PCGS Fair 2	$150,000	264,500
8	1793	NC-3	R8-	PCGS G4	$150,000	218,500
15	1793	NC-4	R7+	G6	$10,000	27,600
17	1793	NC-5	R8+	EF45	$1,000	6,325
25	1793	NC-6	R8	G4+	$20,000	40,250
29	1794	NC-4(S-17b)	R8	AG3+	$10,000
34	1794	NC-7(S-20a)	R8+	G4	$10,000
40	1794	NC-8	R8-	F12	$20,000
41	1794	NC-11	R8	VG8	$20,000
57	1794	NC-1	R7+	G5	$10,000
64	1794	NC-2	R8	VG10	$20,000
70	1794	NC-10	R8+	F12	$20,000
72	1794	NC-5	R8	AG3	$20,000

77	1794	NC-9	R8-	G5	$20,000
78	1794	NC-9	R8-	AG3	$20,000

106	1794	NC-6	R8	F12	$30,000
115	1794	NC-3	R8	F12	$20,000
122	1795	NC-2	R8	AG3	$10,000
123	1795	NC-3	R7	AG3+	$5,000

129	1795	NC-1	R8+	PCGS F15	$50,000
130	1795	NC-1	R8	Fair 2	$20,000

132	1795	NC-4	R8+	Fair 2	$20,000
133	1795	NC-4	R8+	G5	$30,000

149	1796	NC-1	R6	VG7	$4,000
150	1796	NC-1	R6	VG8	$5,000

156	1796	NC-2	R7	VG10	$10,000
159	1796	NC-3	R6+	VF30	$20,000
160	1796	NC-3	R6+	VG10	$8,000

169	1796	NC-4	R5+	F15	$10,000
170	1796	NC-4	R5+	VG8	$4,000

188	1796	NC-5	R7	AG3	$4,000
201	1796	NC-6	R8	AG3	$10,000
205	1796	NC-7	R8	PCGS Fair 2	$20,000
208	1797	NC-1	R7	G6	$7,500

218	1797	NC-2	R6	VG8	$3,000
219	1797	NC-2	R6	VG10+	$5,000

220	1797	NC-3	R6-	G5	$2,000
221	1797	NC-3	R6-	VG8	$3,000

236	1797	NC-8	R8+	VF20+	$25,000
240	1797	NC-7	R8+	VG7	$25,000
243	1797	NC-6	R8	G4	$10,000
248	1797	NC-4	R8-	AG3	$10,000

258	1797	NC-5	R6	G6	$2,000
259	1797	NC-5	R6	VG8+	$4,000
283	1798	NC-1	R7+	AG3	$5,000
286	1798	NC-2	R7+	VG8	$15,000
287	1798	NC-2	R7+	VG8	$20,000

348	1799/8	NC-1	R7	F12	$50,000
356	1800/1798	NC-6	R6+	F15+	$10,000
357	1800/1798	NC-5	R8-	VG10+	$15,000
367	1800/179	NC-1	R8-	VG10	$15,000

368	1800/179	NC-2	R6+	VG7	$3,000
369	1800/179	NC-2	R6+	VG8	$2,000

377	1800	NC-3	R6-	VG8	$1,500

394	1800	NC-4	R7	EF40	$20,000
395	1800	NC-4	R7	Fair 2	$4,000

407	1801	NC-1	R5+	F12+	$5,000

415	1801	NC-2	R7	F15	$15,000
416	1801	NC-2	R7	BS1+	$1,000

417	1801	NC-5	R7+	AG3	$10,000
424	1801	NC-4	R7	VG8	$5,000
427	1801	NC-3	R6+	VG10	$5,000

438	1802	NC-1	R5+	G5	$500
439	1802	NC-1	R5+	EF45	$15,000

445	1802	NC-2	R6	VF25+	$10,000

493	1803	NC-1	R5+	VG7	$1,000
494	1803	NC-1	R5+	F15+	$7,500

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Highlights of the Spectacular Dan Holmes Collection of Early Date Large Cents and a Congratulation.

Posted in Chris McCawley and Bob Grellman, Dan Holmes Large Cents, Ira and Larry Goldberg, knowledge is power, large cents, numismatics, tagged 1793 NC-3 Strawberry Leaf Wreath Cent with the ONE CENT High, 1793 Sheldon-2 Chain America, 1793 Sheldon-3 Chain America, 1794 Sheldon-18b, 1794 Sheldon-48 (R5) Starred Reverse, 1795 Reeded Edge Sheldon-79, 302 Sheldon varieties, 355 Sheldon varities, American Classic 1793 Sheldon-1 (R4) Chain Ameri., Beverly Hills, Bob Grellman, Chris McCawley, complete large cent varieties, Crowne Plaza Hotel, Dan Holmes, Early Date US Large Cents, Finest Known 1794 Sheldon-45, Finest Known Bisected Obverse 1793 Sheldon-14, Gem 1794 Sheldon-59, Gem 1796 Draped Bust Sheldon-110, Head of 1793 with Edge of 1794, ira and larry goldberg auction, large cent varieties, large cents, Mint State 1794 Sheldon-64 with Missing Fraction Bar, Mint State 1799 Sheldon-189 (Normal Date), noncollectible varieties, Prooflike 1793 S-5 (R4) Wreath Cent with Large Date and Liberty, The Copper Specialist, The Copper Specialists, unique 1793 NC-5, Unique 1793 Strawberry with One Cent Centered, Unique Certified Mint State 1804 Sheldon-266c, Unique Sheldon-Holmes Color Set on August 24, 2009| Leave a Comment »

Congratulations Dan, you have managed to accomplish something that all who love and collect large cents can share and enjoy with you into the future. Your perseverance over the last 35 years has resulted in an historical “first” for the coin collecting community on the whole, and particularly, for large cent collectors everywhere. To further distinguish your accomplishment, you compiled your collection by what we will call the “old school approach” of untiring patience in your search, meticulousness in your purchases, and all done with an “eye” for unwavering quality in your choice of copper. Your assembling the most complete set of Early Date US Large Cents in history is an event that will go down in numismatic history as one of the foremost events in our hobby.

Not only has Dan brought together all 302 Sheldon varieties in the early date years (1793-1814) in a single collection, but even more remarkably, he has managed to couple that with bringing together all 53 of the NC (noncollectible) varieties as well. Dan was able to obtain all of the noncollectible varieties but one. Through the generosity of the ANS, they have loaned to Dan that single unique coin, the 1793 NC-5, through his September auction to make it possible to display, and for collectors to view, a complete set by Sheldon number of United States Early Date Large Cents for the first time. This display contains all 355 varieties including the NC varieties of this remarkable era in our Early American history. What an amazing triumph!

The extent of Dan’s accomplishment has further been amplified by Bob Grellman when he noted that there are probably two dozen coins in this early date large cent collection whose rarity exceeds both the 1804 dollar and the 1913 Liberty nickel!! Another remarkable accomplishment!

And, there are over 50 coins listed as finest known for the variety, or condition census pieces including many of those described below.

The sale will take place September 6, 2009, at the Crowne Plaza Hotel in Beverly Hills at 1:00 PM with auctioneers Larry and Ira Goldberg in collaboration with Chris McCawley and Bob Grellman, The Copper Specialist. This continues to be a phenomal team for bringing high quality large cent auctions to the cutting edge for both collector and investor. We owe these gentlemen a great deal of gratidue in bringing us these landmark events. Thanks to you and you hard working staffs gentlemen!

We will mention a few highlights of the auction to further heighten your interest. We will give you the PCGS grade as well as McCawley and Grellman’s grade (The Copper Specialists/EAC grade).

Let’s begin with Lot 128, the legendary 1795 Reeded Edge Sheldon-79. This Holmes coin is the finest of 8 known examples (R7+). Even through the grade assigned by PCGS is only VG-10, the Reeded Edge is clear and strong with the exception of a small area over the S-OF-A where it is weak or missing. McCawley & Grellman give the coin a VG-10 designation. To help put this particular coin in perspective, a G-4 with heavy wear brought $402,500 (lot #1143) in the Nov. 20, 2008, Bowers and Merena auction in Baltimore. What will be the final hammer for this exceptional treasure, one of the most famous coins in the collection?

Probably considered to be the most valuable coin in the collection is Lot 352. This is the extraordinary Mint State 1799 Sheldon-189 (Normal Date). It is the only Certified Mint State coin of that year. It has been graded MS-62 BN by NGC. It is the superior coin for that year by a wide margin, the runner-up being a VF-30 example housed in the ANS Museum. Catalogers McCawley & Grellman give the coin an AU-55 designation. This is the “must-have” coin for anyone assembling a registry set of mint state large cents!

Lot 3 is another amazing coin. It is the second finest 1793 Sheldon-2 Chain America graded MS-63 BN by PCGS. It ranks as an R4+. This copper has incredibly well defined hair detail and magnificent surfaces beaming with luster. McCawley and Grellman assign this coin a grade of AU-55 due to the light friction on the highest points.

Lot 5 is another Chain America, the 1793 Sheldon-3, which is the Levick Plate Coin. It is an R3- and graded MS 63 BN by PCGS. McCawley and Grellman assign this coin a grade of AU-50+.

Lot 7 is the Unique 1793 Strawberry with One Cent Centered, NC-2, R8+, graded by PCGS as Fair 2. This is the Levick-Crosby Plate Coin. McCawley and Grellman assign this coin a grade of Fair-2+. An extraordinary coin!

Lot 8, also a 1793 NC-3 Strawberry Leaf Wreath Cent with the ONE CENT High is one of only three known and is referred to as the “Common Strawberry”. PCGS graded this coin as Good-4 with which McCawley and Grellman concur. The finest known example is a VG-7 (EAC grade) which sold for $862,500 as lot #51 in the January 5, 2009, Stack’s auction in Orlando. This set a record price paid for a large cent. Will it stand or fall during the Holmes auction?

Accordingly, in a single collection, Dan has assembled two of the four known examples of the Strawberry Leaf Wreath Cent.

Lot 9 is a Prooflike 1793 S-5 (R4) Wreath Cent with Large Date and Liberty. This is simply a near flawless Wreath Cent. The coin is sharply struck and has reflective prooflike surfaces. PCGS graded this coin MS-65 BN while McCawley and Grellman assign it a grade of MS-63 prooflike. NGC had graded the coin as Specimen-65 BN. This is simply another amazing coin in Dan’s collection. Auction estimates are $150,000-UP!

Lot 79 is yet another spectacular and popular coin for the large cent collector. It is the attractive high condition census 1794 Sheldon-48 (R5) Starred Reverse graded by PCGS as VF-30. A very rare coin indeed in this grade! McCawley and Grellman assign a grade of VF-25. In Dan’s example, all 94 stars are clearly visible and reflect the quality of this great collection. Someone will walk away with a pristine example of this popular variety. Once again, auction estimates are $150,000-UP!

Lot 1 is the American Classic 1793 Sheldon-1 (R4) Chain Ameri. graded by PCGS as AU-58. This coin represents one of the finest known of this variety. Graded AU-55 by McCawley and Grellman, this is a true American Classic.

Lot 24 is the Finest Known Bisected Obverse 1793 Sheldon-14, a R5 and residing in an AU-53 PCGS holder. McCawley and Grellman give this coin a grade of EF-45. With an estimate of $100,000 and UP, given the exquisite nature and rank of the coin, this is surely a figure which will be exceeded.

As we continue, Lot 31 is another remarkable mint state large cent. This lot is the lustrous 1794 Sheldon-18b, Head of 1793 with Edge of 1794 and is a R4. PCGS graded this coin as MS-63 (tied for the finest they have graded) whereas McCawley and Grellman assign a grade of MS-60. Estimated value for this coin is $100,000.

Lot 74 is the Finest Known 1794 Sheldon-45 (R5+), and the finest by a wide margin. There is no roughness or planchet flaws on this coin which is from the Oswald group of mint state early dates. PCGS graded the coin MS-65 RB, and McCawley and Grellman concur. An absolutely beautiful specimen with an auction estimate of $100,000 and UP.

Lot 95 is a Gem 1794 Sheldon-59 (R3-), another Oswald coin graded MS 66 RB by PCGS. McCawley and Grellman give the coin a grade of MS 65+ and note that it is certainly one of the finest 1794 cents of any die variety. An incredible gem in all respects as well as being from the famous Oswald collection. An auction estimate of $100,000 and UP.

Lot 101 is a Choice Mint State 1794 Sheldon-64 with Missing Fraction Bar, graded MS-64 RB by PCGS with an R5- rating. McCawley and Grellman assign a grade of MS-63 to this choice steel brown coin with ample mint red color remaining. Another coin with an auction estimate of $100,000 and UP. Surely a true rarity with a PCGS population of 1 and none finer at PCGS for the variety.

Lot 185 is a Gem 1796 Draped Bust Sheldon-110 with an R3+ rating and graded MS-66 BN by PCGS and MS 65 by McCawley and Grellman. Tremendous coin, possessing highly lustrous steel brown surfaces which have eloquently faded from the underlying mint red color which still remains strong in the protected areas. An incredible gem which makes the large cent enthusiast gasps for breath and weak at the knees.

Lot 531 is the Unique Certified Mint State 1804 Sheldon-266c Large Cent graded MS-63 BN by PCGS with an R2 rarity rating. This is the Sheldon Plate Coin. McCawley and Grellman assign a grade of AU-58. It is worth reading the description of this coin to understand the disparity in grade. In any event, this is the finest known in both census lists. This coin is a true prize for the most discerning collector of Early American Coppers.

Finally, also offeredd in this sale is the Unique Sheldon-Holmes Color Set. This set consist of 6 Colonials and 60 Large Cents assembled by Dr. Sheldon and sold intact to Dan in 1976. Auction estimate is $20,000-UP.

We all eagerly await September 6, 2009 to learn the outcome of his historical sale.

We also wish Dan the very best and look forward to the remaining three sales in 2010.

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COIN COLLECTING IN THIS ECONOMY. WHAT’S A COLLECTOR TO DO?

Posted in coin condition, coin investments, collector investments, Gammill Numismatics, key date investments, knowledge is power, large cents, numismatics, tagged ANA, ANACS, coin collecting in this economy, coin inventory, coin show attendance, coin varieties, counterfeit coins, digital photo of important coins, economic front, grade inflation, grading coins, grading criteria, home security, kentucky state quarter cud, key date coins, market grading, NGC, numismatic books, numismatic library, PCGS, reading and research on coins, state quarters, stereo microscope on September 19, 2008| Leave a Comment »

The number of coin collectors has really grown since the launch of the State Quarter program in 1999. It is great to once again be able to check your pocket change each evening in hopes of finding a much needed coin to add to your collection….and, at face value. The number of grandparents assembling sets of the state quarters for their grandkids must be a staggering number. Everyone is enjoying this old fashion approach to coin collecting and the hobby is enjoying both new and renewed interest from collectors of all walks of life.

2001 Kentucky State Quarter with Reverse CUD and Polish Marks. Rare Error Quarter. Be sure to check your pocket change for this gem!

However, since 1999 things have changed dramatically on the economic front. If you have been attending coin shows for the last couple of years, particularly the smaller local club shows throughout the country, you might have noticed that attendance is down. In reality, things don’t seem much better at a lot of the larger shows. All too many collectors just don’t have the extra income today to continue adding to their collections as they had in past years. There has really been a loss of activity amongst collectors who live on a fixed income, have lost jobs, or have just had to watch their family budgets so much more closely than in times past.

So what does this mean to the hobby? Pulling state quarters from circulation continues to be exciting but novice collectors as well as seasoned collectors become disenchanted with the same old thing and soon lose interest. In addition, many new and old collectors are almost encouraged to leave the hobby because the US Mint keeps raising prices on an endless number of products. Should we have to pay a premium for US half dollars or rolls of state quarters? Maybe when the economic environment improves and collector’s disposable income returns they will return to the hobby. Unfortunately, when these collectors take a leave of absence, a large number of them don’t come back! Also, who knows when this economy is going to straighten out?

Considia 6

What can collectors do during tough economic times to maintain a strong energetic interest in coin collecting and most importantly their own collections? Let me make a couple of suggestions that will certainly enhance your knowledge of both collecting and give you added information about your existing collection. All in all, you will be a much more astute collector.

First, many collectors are so busy assembling a collection that they rarely have, or take the time, to actually study in any detail what they are collecting. Of course this certainly isn’t true for all collectors, but we have all purchased a coin or book with very good intention of doing more with it, but the time never presents itself. Of course we have all heard the old saying, “buy the book before the coin”. This is very good advice but most collectors are to impatience to take this to heart. There is always the rush to make the purchase.

Now, is a good time to do some reading and research on what you have purchased and what is left to be purchased for your collection if you are working on a series collection or type set. If you are a member of the ANA you have a number of great resources at your disposal. They have a world class library for your use, available online or through the mail. Most state and local clubs also have libraries available for your use. Read about the coins in your collection. You may even find that there are some interesting varieties in your collection that you haven’t yet discovered (see 1798 large cent variety (S-148, Horned 9) to the right.

There are also some very informative books which discuss the history of coins, the engravers who designed them and the circumstances under which they went into production.

Another possibility is to take a look at how your coins are graded. I know they were likely graded when you purchased them, but were they graded by you or the person who sold them to you. There is also this thing called “grade inflation” that impacts our collections. For this we can thank the commercial grading firms such as PCGS, NGC, ANACS and others, who grade, curate and certify coins for a healthy price. Their grading criteria moves with the market demand thus grading becomes a moving target. In any event, the longer you collect, theoretically, the better your grading skills should become and at the same time, if you are abreast of the market, you can stay in tune with the commercial movement of the market which influences the value of your collection.

You might also want to check for counterfeits, particularly the key dates in your collection. The ANA has published several excellent books on the subject to help guide you and determine if your coin is authentic. You can also have one of the third party grading services authentic your key dates as well (PCGS). It is always wise to purchase key date coins that are known to have been heavily counterfeited (1877 Indian Head Cent; 1909 S VDB Lincoln cent; 1916 D Mercury dime to name a few) from dealers you know and trust or buy certified coins.

Now may be a good time to evaluate your home security. Be sure your collection is adequately insured and that your inventory is correct and up to date. Have a digital photo or video of your collection or at least of the most value coins in the collection. Make sure your home safe if both burglar and fire proof with a high safety rating. Be sure to keep your inventory list separate from your collection!

You might even consider purchasing a stereo microscope if you don’t already have one. They run about $200 and can provide hours of enjoyment in studying your coins, particularly when looking for varieties.

Evaluate your entire collection and see if there are items you might want to sell. Look for things that you may no longer have interest in that can be replaced with new items to keep your collection moving in a direction that keeps you interested.

Go to coin shows and coin shops and look at certified coins to gauge where the market grading resides. See if you can find those coins in NGC holders that have been cleaned (or conserved) that they have been graded! This might lead you to spend more time looking at PCGS coins which might be more original or as some might say, are still in their original skin.

There are many things to do to improve and continue to understand your collection. Believe me, in this economy, this is the time to do it!

Who am I?

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MORGAN DOLLAR COLLECTORS? CAN YOU, DO YOU WANT TO, ABSORB THE BINION HOARD IN THE UP COMING BOWERS & MERENA AUCTIONS?

Posted in coin investments, collector investments, Gammill Numismatics, internet auctions, key date investments, knowledge is power, numismatics, rare coin investment, Stand Alone Coins for Investments, tagged 2008 Collector’s Choice Auction, Binion Hoard, Bowers and Menera Auctions, Cartwheel, coin collecting, Coin Rolls, Common Date Morgan Dollars, key date morgan silver dollar, key date peace silver dollar, Morgan Dollar, Morgan Dollar Collectors, Morgan Dollar Hoard, Morgan Dollar Rolls, Morgan Silver Dollar, Peace Dollar, Peace Silver Dollar, Rare Coin Investments, telemarketers, TV coin shows, Vernon G Stwart Collection on August 29, 2008| Leave a Comment »

On Friday, August 22, 2008 Bowers and Merena Auctions will open their September 2008 Collector’s Choice Auction. The auction closes on September 17th. This auction will include the Vernon G Stewart Collection as well as material from the famous Binion Hoard. I have never seen so many rolls of common date coins of every denomination in recent times.

I guess the real question at hand at this point and time is whether Morgan Dollar collectors, and dealers as well, are ready to absorb 5,996 common date certified dollars and an addition 9,464 common date raw dollars, Is this really how they want to spend their money when the market is begging for rarities, not common date material that is falling off dealers shelfs as we speak. Maybe someone will view this auction as an opportunity to make an investment in bulk silver….at a premium.

What do you do with so many PCGS certified common date Morgan dollars? I guess the telemarketers are getting ready for a heyday, as are the TV coin shows (although I hear they are falling on hard times). Most of these dollars are common Morgans with a small percentage of Peace dollars that hold little more than bullion value in such large quantities. Do you think the wholesale and retail prices will be effected by these quantities entering the market? It will be interesting to follow the sheet prices after the auction. My guess, they will fall, particularly the ones listed below in grades of MS 63 and MS 64. It will also be interesting to see if some of these large lots fail to met their minimum.

For example, there are 783 pieces of 1883 O Morgans (159 are MS 64s and 624 are MS 63s). There are 1,221 pieces of 1884 O s (94 are MS 65 and 1,127 are MS 64s). There are 639 MS 63 1885 Os. There are 201 MS 64 1886 pieces & 1,187 MS 63 1886 Morgans. There are 15 MS 64 PL 1887s, 161 MS 64s, 28 MS 63 PL and 177 MS 63 1887s.

There are approximately 15, 460 dollars in this auction, they are common date Morgans and the question is what is the value of holding such volumes of these coins other than for slightly better than bullion value.

My money has to go to the key date and semi-key issues from the Morgan and Peace dollar series. After that, Early Type is the only investment that continues to make sense.

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COLLECTING AND INVESTING IN COINS IS SYNERGISTIC!

Posted in coin investments, Gammill Numismatics, knowledge is power, numismatics, tagged 1909 S VDB, bona fida collector, COLLECTING AND INVESTING IN COINS IS SYNERGISTIC, full four diamonds, future generations, Gammill Numismatics, hunt for coins, indian head cents, invest in America's future by investing in her past, investment grade, investment instrument, investment quality, Lincoln Cent, money as the driving force, numismatics on August 28, 2008| Leave a Comment »

Over the years, as an avid collector of all things related to numismatics, I have talked to many colleagues who accurately regard themselves as true, “bona fide collectors”. That is to say, they have absolutely no interest in discussing their collection as an investment instrument under any circumstance. Well almost any circumstance. They will rock back on their rears when they start talking about how much their AU-50 1909 S VDB cost them back in 1957. Yes, they will remind you that they have made some good purchases over the years. However, they most likely will say they have no desire or interest in “investment grade or investment quality coins” right after telling you about that very nice Lincoln cent. They are investors aren’t they? They say they are collectors and collect for the pure enjoyment of participating in the hobby. They often remind you that it’s the hunt that drives them year after year, looking for that one special coin(s), book or piece of paper money to add to their collection…and they are dead serious and proud of that pursuit. However, aren’t these collectors also investors by the simplest of definitions? They have invested in America’s future by investing (collecting) in her past!

I know a number of collectors that fall under the definition of “bona fide collector” and they are some of the most knowledgeable and enjoyable people you will ever find when it comes to discussing collecting or any other topic as far as that goes. I guess the simple point they make is that making money is not the most important aspect of their collecting activities. Money has not been the driving force that has kept their interest in collecting alive over the many decades of what they consider a very nice leisure activity. In addition to being quite knowledgeable about the history of the coin series they find most interesting, in general, they are always willing to share their collection with you, seek your opinion, giving new and young collectors sound advice and in the end, everyone gains an abundance of new knowledge and new friends.

If you talk to these people long enough you will generally find that they have no plans of ever selling their collection. Talk to them a little longer and you will find out why they will never sale. Very often, they are going to pass their collection on to future family generations. I know one gentleman that has assembled five complete sets of Indian Head Cents in EF to MS 65. They will go to his five grandchildren. I have seen three of these sets and they are truly amazing. Beautifully matched in color and quality and just about as problem free as you can imagine. These sets have been assembled over a forty year period. A truly remarkable task has been accomplished by this gentleman, reflecting on his own personal character as well as his dedication to pass not only his interests on to his children and future generations, but also the history of our country.

A second gentleman I met many years ago has put together three complete sets of Indian Head Cents for his grandkids. To add to the hunt, he is attempting to upgraded each coin in every set to “four full diamonds”. What a goal. His sets are in the grade range of EF to AU 58. Another wonderful accomplishment and he knows hel’ll never get full diamonds on all the coins, but he keeps looking..

I know individuals who have inherited multiple Lincoln Cent and Buffalo Nickel collections from a previous generation. These people are not collectors but continue to hold the collections in hopes of future generations taking interest in a hobby enjoyed by a past generation. These are remarkable coins that are properly stored and cared for and just waiting for their next custodian.

I could go on but I think the point has been made. These collectors have had a goal to leave something special to their families that gave them great enjoyment and satisfaction over many years. They didn’t call themselves investors, but if fact they were. All of these sets have greatly appreciated over the years. It doesn’t matter who reaps the benefits of the financial gains, these gentleman have had a great experience collecting and assembling something they love and because they stuck with quality purchases, and made the key and semi-date purchases, they indeed have made a handsome investment over time.

Any collection that has been assembled by a “bona fide collector”, as they might call themselves, stressing strike, luster and eye appeal, have done very well over the decades. You don’t have to spend a million dollars, or make a million dollars on the sale of a collection to be both an astute collector as well as an investor.

Collecting and investing in coins is synergistic!

COLLECT OR INVEST IN AMERICA’S FUTURE BY COLLECTING AND/OR INVESTING IN HER PAST! IT IS TRULY AN AMAZING STORY FOR ALL GENERATIONS.

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SOME HIGHLIGHTS FROM THE RAY ROUSE COLLECTION OF HALF CENTS

Posted in coin investments, Gammill Numismatics, Half Cents, knowledge is power, numismatics, ray rouse collectoin of half cents, Stand Alone Coins for Investments, tagged 1796 C-1 R-6, 1796 No Pole variety, 1802/0 reverse of 1800 R6, gammill numismatics goldberg's auction, half cent collection, ira and larry goldberg auction, overdate, plate coin in Gilbert book, plate coin in Wayte Raymond's standard catalogue., Ray Rouse Collection of half cents on August 25, 2008| Leave a Comment »

On Sunday, September 14th, 2008 in Beverly Hills, CA, Ira and Larry Goldberg will be auctioning The Ray Rouse Collection of United States Half Cents. There are a number of great opportunities for acquiring some highly desirable Half Cents to add to your exiting investment portfolio

The first one to get my attention was lot 31, a 1796 C-1 (R6) in Fine 15+. This is the No Pole variety pushing a grade of VF 20. This coin was plated in the Gilbert half cent book and in Wayte Raymond’s standard catalogue to illustrate the No Pole variety. This coin comes with a long distinguished provenance. Wonderful example.

A second desirable Half Cent, lot 32, is another 1796 issue, this time the C-2, an R4 in VF 30. This issue is the With Pole variety. It also comes with an impressive provenance.

Still another treasure is found in lot 39, an 1802/0, C-1 R6 Over date, 2 over 0, reverse of the 1800. Graded at VG 10.

This is going to be a very strong and exciting auction. Visit Goldberg’s website for their listing of other rarities

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