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NumisMedia Weekly

Current News and Analysis
of the United States
Rare Coin Market


High-Quality Rarities, Morgan Dollars Highlighted

October 26, 2015

     The most recent Legend Rare Coin Auction was held just a little over a week ago in Las Vegas and the total prices realized was within a hair of $5 million. The quality of the coins that goes into a Legend Auction is rather remarkable because they are very selective. Nearly all of the coins are high-end for the grade and many have very lengthy pedigrees.

     While this sale had a wide variety of coins from Half Cents through $20 Gold, there was a concentration of Dollars that was nothing less than spectacular, highlighted by the Coronet Collection which contained many Morgan Dollars from the legendary Jack Lee Collections. It would be most difficult to find coins better than some of these rarities in this sale.

     The prices realized from Legend Auctions certainly make a great case for buying high-quality rarities even if you have to pay a premium. In fact, many of these coins also carry the CAC sticker. Below are some of the more important Dollars from this sale.

1895 O Morgan Dollar PCGS MS65 CAC Coronet Collection

1895 O Morgan Dollar PCGS MS65 CAC sold for $211,500 at the Legend Rare Coin Auctions, Regency Auction XIV, Part II of The Coronet Collection, in Las Vegas, Nevada, October 15, 2015

 
Date/Denomination
 
Grade
Price
Realized
1894 Morgan DollarPCGS MS66+ CAC$152,750
1894 O Morgan DollarPCGS MS65+ CAC$79,313
1894 S Morgan DollarPCGS MS66+ CAC$31,725
1895 Morgan DollarPCGS PR67 DCAM$135,125
1895 O Morgan DollarPCGS MS65 CAC$211,500
1895 S Morgan DollarPCGS MS66+ CAC$114,563
1896 O Morgan DollarPCGS MS64 CAC$47,000
1896 S Morgan DollarPCGS MS66 P/L CAC$96,938
1897 O Morgan DollarPCGS MS66 CAC$108,688
1898 S Morgan DollarPCGS MS68 CAC$117,500
1899 S Morgan DollarPCGS MS67+ CAC$49,938
1901 Morgan DollarPCGS MS66$587,500
1902 S Morgan DollarPCGS MS67+ CAC $99,875
1903 S Morgan DollarPCGS MS67 CAC$55,813
1904 S Morgan DollarPCGS MS67 CAC$70,500

     While the metals have held steady over the last week, the overall market for common and average coins seems to be slightly lethargic. However, prices for true rarities continue to advance with strong demand in major auctions. In this week’s HD Wholesale Market Dealer Price Guide you will see a variety of increases in the Bust Half chart. Most of the advances appear in the MS64 and higher grades for coins that are seldom available in the marketplace. Also, these higher Market prices require that the coins have strict eye appeal; ugly coins would need to be discounted. The 1817/4 Bust Half, a truly rare coin, jumped in grades Fine through AU50 as a result of the VF35 coin that sold in the recent Pogue sale for $282,000. The 1807 Capped Bust with Large Stars moved to a higher $200,000 Market in MS66. Several other dates also climbed in MS66 including the 1815/2, now at $94,500.

     Some of the rarities in the Bust Dollar chart saw some ups and downs this week with the 1794 Flowing Hair leading the way with a new Market value of $6,000,000; this is more realistic than our previously listed value. We also lowered the 1799/8 Bust Dollar in MS64 down to $105,000 Market. The 1795 Flowing Hair with Three Leaves increased in MS66 to $585,000 and the 1799 Draped Bust Dollar in MS64 rose to $84,500.

     There are a variety of changes in the Morgan Dollar chart primarily due to the numerous high grade rarities sold in the Legend sale. The 1894 in MS67 is up to $87,500 Market and the 1897 O in MS66 is now at $99,500. Check the Morgan Dollar chart for many other updated prices.









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NumisMedia Weekly Archive
Current News and Analysis of the U.S.
Rare Coin Market