The Long Beach Coin & Collectibles Exposition was another smashing success as the marvelous market marches merrily towards the end of a record-shattering year. With more than three months left on the calendar for 2003 coin buying remains high on the list of priorities for entry-level collectors and numismatic veterans alike.
"The show was excellent," said Laura Sperber of Legend Numismatics in Lincroft, New Jersey. "The auctions were exactly what everyone expected, which means they were crazy. The demand for fresh and rare coins continues at an incredible pace. People are buying coins!"
What about the supply problems that everyone was talking about a few months ago? "If you're not willing to pay then you're not going to be offered anything," Sperber said. "A lot of dealers can't find material because they won't pay for it. In numerous cases the prices on the sheets are miles behind the market."
Gold flirts with $400 as dollar weakens.
What areas of the market were the hottest? "Carson City dollars in MS63 or better. People just love that Carson City mintmark. DMPL [deep mirror prooflike] dollars from all Mints in MS64 or better. In the more expensive coins the demand for Proof gold is extremely high, probably the best that I've ever seen it."
The weakening dollar pushed gold past the $380 mark and close to $390 in recent days, adding fuel to the numismatic flames that were already raging. Was this evident at the show? "Gold coins in the $1,000 to $5,000 range were red-hot, especially with gold bullion going up during the show," Sperber added.
Anything else? "People have come to the realization that the pre-1900 coins are cheap," Sperber concluded. "There's suddenly a lot of action there, too."
Heritage Auctions realize over $10 million at Long Beach.
Price records were falling faster than you can say "MS67 Full Bell Lines" at the Heritage Numismatic Auctions sales held in conjunction with the Long Beach Expo. Here are some of the most impressive prices:
| 1776 Continental Dollar | PCGS AU58 | $27,600 |
| 1793 Wreath Cent | PCGS AU55 | $25,300 |
| 1955/55 Doubled Die Cent | PCGS MS65RD | $23,000 |
| 1915 Buffalo Nickel | PCGS PR68 | $18,400 |
| 1897-O Barber Dime | PCGS MS67 | $28,750 |
| 1876 Twenty Cent Piece | PCGS MS67 | $31,050 |
| 1902-O Barber Quarter | PCGS MS66 | $16,100 |
| 1943-S Washington Quarter | PCGS MS68 | $16,100 |
| 1923-S Half Dollar | PCGS MS65 | $26,450 |
| 1950 Franklin Half Dollar | PCGS MS67FBL | $28,750 |
| 1846 $2˝ Liberty Gold | PCGS MS63 | $21,850 |
| 1898 $5 Liberty Gold | PCGS PR65DCAM | $23,000 |
| 1908-D Motto $10 Indian | PCGS MS66 | $25,300 |
| 1911 $20 St. Gaudens | PCGS MS65 | $17,250 |
| Antietam Half Dollar | PCGS MS68 | $26,450 |
| 1936-D Arkansas Half Dollar | PCGS MS67 | $23,000 |
New edition on Dahlonega gold is released.
Douglas Winter's prize-winning book Gold Coins of the Dahlonega Mint 1838-1861 has been released in a new edition, with updated information on condition census pieces, price histories and more than 40 pages of new text. The illustrated hardbound edition is available for $34.95 plus $3 shipping from Zyrus Press, Box 17810, Irvine, CA 92623.
Kingswood "Orleans Sale" closes September 25.
The "Orleans Sale" from Kingswood Coin Auctions closes on September 25 at 7 p.m. Pacific Time. This 973-lot sale features PCGS and NGC certified coins in all price ranges.
"There is a great deal of anticipation about this auction," said Raeleen Endo of the Collectors Universe staff. "We had hundreds of collectors and dealers viewing the lots at Long Beach and we look forward to a highly-successful sale."
To view the lots and/or to bid online, click here.
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).
Click here to email this article to a friend.
