"...And we'll have F.U.N., F.U.N., F.U.N. 'til our daddy takes our bid sheets away!" With apologies to the Beach Boys, the lyrics definitely fit the times that are post-F.U.N. show 2003, an auction and bourse extravaganza of unprecedented proportions. The Florida United Numismatists [F.U.N.] show was, in the words of Laura Sperber of Legend Numismatics in Lincroft, New Jersey, "Incredible! I expected it to be incredible, but it was even more incredible than that!"
As impressive as the tales from the bourse floor are, the results from the auctions are even more majestic (stirring, exciting, imposing, grand and striking). There are some jaw-dropping prices to report as the rare coin market roars into 2003 with all of the momentum of 2002 plus a great deal more.
20th century Gem material is market leader.
"The number one seller at the show was definitely 20th century material of Gem quality," Sperber reported. "Buffalo nickels were the hottest of all, as there are several major collectors that are interested in the best-quality examples of every date.
"The entire market was extremely strong," Sperber continued. "Even on Saturday the bourse room was crowded with collectors. They were buying coins, too, and not just looking. Anything that was nice that you put out in your case was quickly sold, including generics."
Was anything else ultra-hot besides 20th century? "DMPL dollars! Any date in Gem quality is in tremendous demand. We bought a lot of coins from Jack Lee's second set that he was selling and the coins flew out of our cases."
Here's more major news from the world of numismatics: "Legend recently purchased the Reed Hawn example of the 1913 Liberty nickel," Sperber said. "We feel that the important classic rarities of numismatics offer some of the best values in the market today." The famed coin is certified as Proof 64 by PCGS.
Prices on gold coins are "wild."
"F.U.N. was the most active coin show that I've ever seen," said Dale Larsen of Spectrum Numismatics in Irvine, California. "The prices on gold coins were wild and crazy. We were really strong buyers on gold, but, even so, we weren't able to come home with much as there was always someone there who was willing to pay a little more."
What about type coins at the show? "We sold a great deal of toned type coins before the show even opened," Larsen said. "A lot of people were looking for Liberty Seated and Barber Proofs. The market seems ready to move on the areas that have been quiet until now, such as Three Cent nickels and Three Cent silvers."
1911 Canadian dollar realizes $690,000!
Heritage Numismatic Auctions put together nine sales in the opening two weeks of 2003. The sales covered the gamut of numismatics, from foreign to paper money to U.S. coins. There are hundreds of prices that are worthy of reporting. Here are eleven of them:
- 1911 Canadian silver dollar (PCGS SP65) - $690,000
- 1856 Flying Eagle cent (PCGS MS66) - $103,500
- 1861 Indian cent (PCGS MS68) - $54,625
- 1877 Indian cent (PCGS MS66RD) - $77,625
- 1963 Lincoln cent (!!) (PCGS PR70DCAM) - $39,100
- 1796 Draped Bust, SE quarter (PCGS MS63) - $50,600
- 1920-D Standing Lib quarter (PCGS MS68FH) - $132,250
- 1920-S Standing Lib quarter (PCGS MS66FH) - $60,375
- 1921-S Walking Lib 50c (PCGS MS65) - $65,550
- 1921 $20 St. Gaudens (PCGS MS62) - $62,100
- Panama-Pacific $50 Round (PCGS MS65) - $78,200
Buffaloes stampede Bowers "Rarities Sale."
Price records were crushed in the Bowers & Merena Galleries "Rarities Sale" that was held in Orlando, Florida, on January 7. Here are a few of the highlights of this memorable event:
- 1923-S Buffalo nickel (PCGS MS66) - $43,700
- 1926-S Buffalo nickel (PCGS MS65) - $103,500
- 1937-D Buffalo nickel (3-leg) (PCGS MS66) - $78,200
- 1895 Morgan dollar (PCGS PR67DCAM - $62,100
- 1795 $5 Heraldic Eagle (PCGS MS64 - $241,500
- 1861-D $5 Liberty (PCGS MS61 - $55,200
- 1798/7 $10 Large Eagle (PCGS MS61 - $178,250
Kingswood "Lincoln" sale closes January 16th.
There's not much time left to participate in the exciting "Lincoln" sale from Kingswood Coin Auctions. This 966-lot sale features PCGS and NGC-certified coins along with a nice selection of currency. To view the lots and/or to bid online, click here.
1920-D quarter and 1856 Flying Eagle images appear courtesy Heritage Coin Auctions
Bruce Amspacher has been a professional writer since the 1950s and a professional numismatist since the 1960s. He won the OIPA sportswriting award in 1958 and again in 1959, then spent eight years in college studying American Literature. This background somehow led him to become a professional numismatist in 1968. Since then he has published hundreds of articles on rare coins in dozens of publications as well as publishing his own newsletter, the “Bruce Amspacher Investment Report,” for more than a decade. His areas of expertise include Liberty Seated dollars, Morgan and Peace dollars, United States gold coins, sports trivia, Western history, modern literature and the poetry of Emily Dickinson. In 1986 he was a co-founder of the Professional Coin Grading Service (PCGS).
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