The following post is pulled from Coin World editor Steve
Roach’s Market Analysis column in the Sept. 15 issue.
Major auctions like Heritage’s U.S. coins auction at the recent American
Numismatic Association World’s Fair of Money are composed of
many different collections. These collections have often been put
together over the course of decades and can provide guidance on
specialized areas of the market.
One such collection
offered was the James E. Blake Collection of 2-cent pieces, each
graded Mint State 65 red and brown by Professional Coin Grading Service. The consignor
(who prefers to remain anonymous) started collecting Liberty Head
5-cent pieces as a child and he eventually formed high-grade
collections of the same coins he enjoyed as a young collector.
His advice to collectors: Buy the best grade you can afford and “buy
the key dates first whenever possible since they likely will have gone
up in value by the time you complete the set.”
Regarding quality, he reminds collectors to buy the coin and not the
holder, meaning that collectors should make evaluations on quality for
themselves, although he does recommend buying coins with Certified
Acceptance Corp.stickers that indicate quality within the grade when possible.
He further suggest that to maximize enjoyment, “don’t focus on the
potential profit that your collection might yield when sold, but
instead focus on the enjoyment of collecting and learning as much as
you can about the coins in your collection.”
one of three analyses of the recently sold 2-cent coins:
The coin: 1872 2-cent piece, doubled die obverse, MS-65 red
and brown, CAC
The price: Unsold (at the
The story: The 1872 2-cent piece is
notorious for its small mintage of just 65,000 pieces. This example
has the prominent doubled die obverse that is listed in The
Cherrypickers’ Guide to Rare Die Varieties and is most prominent
on the D of GOD in the obverse motto.
The surfaces were
described as showing “some sandy-tan remaining in the fields, mainly
closer to the rims, and bright reddish color within and surrounding
While it did not sell at the auction, the
consignor confirmed that it sold after the auction, privately, for a
It had last sold at Heritage’s Jan. 14,
2013, auction where it brought $12,925.
The 2-cent piece
would be discontinued in 1873, when Proof examples were made for
collectors, but no business strikes were produced for circulation.
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