Below is the final of three posts from our own Steve Roach
highlighting impressive gold items in the U.S. market.
The spot price of gold has dropped recently, hitting prices not seen
for the past six years due to various concernsabout the global market
coupled with expectations that the Federal Reserve will be slower than
expected in raising interest rates. Despite this, high-end gold coins
continue to excel at auction. Here are three rare examples that
performed well at a Nov. 15 auction by online auctioneer GreatCollections.
1861-S Coronet gold $5 half eagle, AU-50
Collectors love coins that were once in
prominent collections and the addition of a well-known name in a
coin’s provenance (ownership history) can add a premium to a coin’s
price. On Nov. 15, an 1861-S Coronet gold $5 half eagle formerly in
the collection of Harry W. Bass Jr. graded About Uncirculated 50 by
PCGS sold for $7,822.10.
From a low mintage of 18,000 pieces, PCGS CoinFacts notes an
estimated survival rate of just 60 coins. There is additional demand
for the coin because it is a Civil War issue and no Mint State
examples are known.
When it was offered at Bowers and Merena’s May 2000 auction of the
Bass Collection it sold for $4,600. That the Bass pedigree is noted on
the slab’s insert helps document and preserve the coin’s history for