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 recently sold 2-cent coins from the
The coin: 1871 2-cent piece, MS-65 red
and brown, CAC
The price: $1,650.88
The story: The consignor described this piece as the most
difficult coin to acquire in the set, and it realized more than he
expected at $1,650.88.
It is from an issue with a
relatively low mintage of 721,250 pieces and the description noted
that it is “elusive at the Gem level” regardless of the color
designation. PCGS has graded 33 in MS-65 red and brown with none finer
in this color designation.
This example has a green CAC
sticker. A different example graded by PCGS in the same grade without
a CAC sticker sold for $1,410 at a July 13 Heritage auction.
Another example graded MS-66 red and brown by Numismatic
Guaranty Corp. and with a green CAC sticker sold for $4,700 at
Heritage’s Nov. 15, 2013, Eric P. Newman auction.
Read the rest of Steve Roach's Sept. 15 Market Analysis:
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