The American Numismatic Association World’s Fair of Money in August
and the January Florida United Numismatists convention act as
guideposts for the rare coin market.
Both shows feature huge auctions, massive bourse floors with an
active blend of wholesale and retail dealers, robust on-site grading,
and a healthy crop of educational opportunities to bring collectors to
the show and keep them engaged.
This summer’s ANA show was again held in suburban Chicago, with
collectors and dealers alike seeming to share in “Rosemont fatigue.”
That should be resolved in 2016 when the ANA moves the show to
Anaheim, Calif., with Denver slated in 2017 and Philadelphia in 2018.
Both Stack’s Bowers Galleries and Heritage Auctions held official
ANA auctions during the show, with online sessions continuing after
the close of the convention.
The results of these auctions were mixed with many of the top
rarities not meeting reserves. Some of this may be attributed to
wealthy buyers being extremely selective in their purchases, with
Stack’s Bowers upcoming Pogue Collection sales looming and several
massive collections that have introduced thousands of rare coins to
market in the past three years.
That being said, several great collections of top-quality coins in
specialist areas, such as Heritage’s offering of Proof Coronet gold
$10 eagles from the Trompeter Collection and the Duckor Family
Collection of 19th century gold dollars garnered attention. Still, the
auctions had an absence of name-brand massive rarities to capture
mainstream news attention and bring additional visitors.
More encouraging were the strong results for attractive, well-priced
collector coins in the $750 to $5,000 range, showing that collectors
are continuing to make strategic additions to their collections.
This year’s ANA show lacked a robust new U.S. Mint product like last
year’s 2014 Kennedy gold half dollars. The Mint did not offer any of
its new 2015 American Liberty, High Relief $100 coins at the show, and
many dealers were selling examples for very modest premiums over their
issue price — understandable considering the coins are still available
from the U.S. Mint and don’t seem to be nearing a sellout point.
Great coins continue to bring more money than ever as buyers are
willing to pay previously unheard of prices for examples of coins that
are the finest known. Take the top lot of the ANA auctions: Stack’s
Bowers offering of an 1807/6 Draped Bust cent graded Mint State 66 red
by Professional Coin Grading Service with a green Certified Acceptance
It’s not a rare issue, or a rare variety, but this coin is legendary
for its original Mint color that looks closer to a mid-20th century
cent than one from the first years of the 19th century. It sold for
$470,000 and that price — while huge today — may seem like a bargain
in a generation.
More from CoinWorld.com:
government to return millions of dollars in Liberty Dollars seized
by authorities in 2007
a $150,000 starting bid turn into a $400,000 final price
performance: Collectors angry over Eisenhower sellout
Deputy Mint Director Rhett Jeppson reveals bureau's upcoming plans
Coronet $20 double eagle from Newman Collection resurfaces, sells
for $17,625: Market Analysis
Keep up with all of CoinWorld.com's news and insights by signing
up for our free eNewsletters, liking
us on Facebook, and following us on Twitter. We're also on Instagram!