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NumisMedia E-News Weekly
E-newsletter provided for Dealer Subscribers and Members of NumisMedia.
Long Beach Active for Attending Dealers
February 6, 2012
The Long Beach Convention turned out to be a good show for those dealers in attendance. However, it does appear that some East Coast dealers stayed home to reduce travel expenses since there will be more shows in their area very soon. When dealers tend to see the same material over and over again, it can be a waste of time and money to follow the same route as other dealers every week. Nonetheless, the public showed up at Long Beach and most dealers reported good sales.
Prices for most Modern coins, with the exception of bullion related items, are very soft at this time. Roosevelt Dimes to Kennedy Halves will trade if they are offered at slight discounts, but if a dealer wants to move a quantity of coins, the discount would have to be more significant. Even the Ike, Anthony, Presidential, and Sacagawea Dollars are trading at discounts. Many of the PR69 coins are selling at major auctions for under $20 per coin. Although, the highest grade coins with populations under 10 are still in demand by collectors who are trying to fill Registry Sets.
In this week's Moderns Wholesale Market Dealer Price Guide there are many increases for bullion coins. Everything is higher since the last price guide, Gold by over $100 and Silver by at least $3. The 2009 UHR advanced in MS69 to $2,700 Market. This is a very sought-after coin with insignificant availability in this current market. While many dates in Modern Commemorative Dollars have fallen in the 70 grade range over the last few months, some are still receiving strong competitive bids when offered in auctions. The 1983 S Olympic in MS70 advanced to $2,500 this week and we did monitor results of a coin that sold in auction at a significantly higher price. The 1988 D Olympic in MS70 climbed to $440 Market, while the 1994 P Prisoner of War in PR70 improved to $1,000.
Read all of this week's E-News for website updates, E-News exclusive discounts, What's Hot, What's Not, and more. E-News Weekly is available to Dealer Subscribers and Members only.
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Archived Favorite - A past article from the NumisMedia Archives
The Coin Guys - Bubba and Zemo
An educational yet entertaining look at the world of numismatics.
The New 50 State Quarter Program
First run March 22, 1999
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Zemo:
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Well, we're underway with the new quarter reverses, and while they're not always being touted as such, they ARE actually COMMEMORATIVE coins. Each state will be honored by their reverse design in the order in which they ratified the Constitution or were admitted into the Union.
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Bubba:
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The first state to do so, Delaware, has had its coins in circulation since early January.
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Zemo:
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The reverse depicts CAESAR RODNEY, a signer of the Declaration of Independence, on horseback, ostensibly on his way to Philadelphia to tell the Continental Congress "Yep, Delaware has voted to accept the Constitution, and to sign that important document.
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Bubba:
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Incidentally, you know what kind of horse Caesar is riding, don't you?
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Zemo:
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It's a QUARTER horse, of course!
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Bubba:
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We saw the first of the second state's coinage (Pennsylvania) at the Sacramento ANA in mid-March.
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Zemo:
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The reverse of this coin has a draped female (Liberty?), superimposed over an outline of the state, with a keystone, for the keystone state, Bubba, it's NOT a CHURCH KEY! in the upper left corner, just about over Meadville. In both of the last two issues, the Denver strikes appear to be "cleaner", with more detail.
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Bubba:
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What about the other three reverses for this year?
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Zemo:
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The remaining three will be released in June (New Jersey), August (Georgia) - sit DOWN, Bubba, and stop singin' "Dixie"!, and in November (Connecticut). Five states, again in order of joining the Union, will be issued each year until Oklahoma, New Mexico, Arizona, Alaska and Hawaii have their turn in 2008.
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Bubba:
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These 50 coins will certainly be collectible, but will they be valuable in the future?
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Zemo:
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Plans are to mint several hundred million of each, so they certainly won't be rare. Like the Bicentennial coinage in 1976, they'll be saved, primarily because of the novelty of the new designs, but also like the Bicentennial quarter, half dollar and dollar, I don't feel they'll ever be worth much over face value. The mint will also be producing some in clad and silver Proofs, so depending upon the mintage of these, some could command premiums over the issue price down the road.
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Bubba:
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How about errors and varieties on these commemorative quarters?
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Zemo:
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Taking the latter category first, I suspect there will be few significant die varieties on these due to the new die production methods and the (supposedly) closer inspection by the mint of the production dies. If a major variety SHOULD occur on any of the 50 designs, it would be highly collectible, and, depending upon the type of variety, it COULD command significant premiums.
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Bubba:
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ERRORS are another matter, right?
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Zemo:
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There is already a frantic demand for mint errors on the first two issues, the more dramatic, the better. One major error dealer told me he has a standing order from one of his customers for ANY major error that comes along. Few have been found to date on the Delaware issues, and I haven't heard of any yet on those from Pennsylvania. I feel errors on the 50-state coins will always be very much in demand, similar to those on the aforementioned one-year Bicentennial series.
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Bubba:
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Can you imagine a major error on all 50 coins?! What an incredible exhibit in the year 2008!
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