It was 100 years ago this week that the Wright brothers soared to heights previously unknown to man. It was less than two weeks ago when the Baltimore Coin & Currency Exposition did the same thing. They're still talking about both events.
"Baltimore was off the charts," says Laura Sperber of Legend Numismatics in Lincroft, New Jersey. "We did so much business before the show that we didn't even need to go to the bourse floor to have a great show. It was an event dominated by the demand for gold."
Is there anything to add to the words of praise that flowed forth last week? "Proof gold was really hot," Sperber said. "These were coins being bought by collectors, too, so there's no problem selling five-figure coins to the public. I also found a lot of action in Proof type coins and especially No Motto Proofs. And, as usual, we sold every Gem-quality DMPL Carson City dollar that we brought or bought at the show."
"Gold is as hot as it's ever been."
What's happening this week in the world of certified gold coins? "Gold is as hot as it's ever been," says Richard Schwary of California Numismatic Investments, Inc., in Inglewood, California. "By that I mean that you can sell everything that you can get your hands on in any denomination. The relatively expensive coins, such as $3 gold pieces, are selling just as quickly as the most generic items."
Where is the greatest demand? "MS64 Saints are selling in 100 and 200-coin lots, so I guess you could say that that's the biggest area of demand. I could also sell 100-coin lots of MS64 $20 Libs if I could find them. Actually, anything in MS63 through MS65 is gone instantly, so they could all fall in the 'greatest demand' category.
"The price of bullion appears to be stalled in the $400-$410 range, but this hasn't slowed the calls for certified gold. This market is garnering new interest throughout the country and there are some big players entering the stage for the first time," Schwary said.
North Shore Collection highlights Heritage F.U.N. Signature Sale
Over 17,000 lots will fall under the hammer at the Heritage Numismatic Auctions sales at the 2004 F.U.N. show in Orlando, Florida, with the spotlight on the "North Shore" collection in the "Signature Sale."
A nearly complete set of $20 gold pieces, both Liberty and St. Gaudens, is up for bidding along with many other spectacular gold coins. Dates of special interest include:
| 1804 13 Star $2˝ Gold | PCGS AU50 |
| 1863 $2˝ Liberty | PCGS PR64DCAM |
| 1881 $3 Gold | PCGS PR65CAM |
| 1843-C $5 Liberty | PCGS MS64 |
| 1846-C $5 Liberty | PCGS MS62 |
| 1850-C $5 Liberty | PCGS MS64 |
| 1795 $10 Gold 9 Leaf Variety | PCGS MS60 |
| 1798/7 $10 Gold 7X6 Star | PCGS MS62 |
| 1870-CC $10 Liberty | PCGS AU50 |
| 1870-CC $20 Liberty | PCGS AU53 |
| 1883 $20 Liberty | PCGS PR65DCAM |
| 1931-D $20 St. Gaudens | PCGS MS64 |
Bowers & Merena sale realizes $3.9 million
Rare coins of all denominations proved strong in Baltimore as the auction by Bowers & Merena Galleries realized $3.9 million on December 4-6. Here are a few of the highlights from this highly successful sale:
| 1776 Continental Dollar | PCGS AU58 | $20,998 |
| 1916-D Mercury dime | PCGS MS64 | $20,700 |
| 1916 Standing Lib quarter | PCGS MS65FH | $21,850 |
| 1867 Liberty Seated dollar | PCGS PR66DCAM | $27,600 |
| 1895 Morgan Dollar | PCGS PR66DCAM | $51,750 |
| 1868 $3 Gold | PCGS MS66 | $34,500 |
| 1805 $5 Gold | PCGS MS64 | $39,100 |
| 1806 $5 Gold | PCGS MS64 | $24,725 |
| 1874 $10 Liberty | PCGS MS65 | $29,900 |
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).