Weekly Market Report: Gold, PCGS Set Registry Coins are Focal Points of Continually Strong Market

"There have been more phone calls about buying gold since the September 11 tragedy than in the previous five years combined," says Scott Travers, a veteran New York City coin dealer and author of the best-selling book One-Minute Coin Expert. "The demand has covered the gamut from commercial unc gold through certified generic pieces to the high quality Proof gold rarities."

In last week's column another dealer noted that demand has slowed somewhat for generic gold since mid-September, but prices have remained basically stable. Do you find things to be the same way? "Yes, generic gold has slowed down, but some other areas of the market haven't. Proof gold is still hot, even though most of those coins fall in the $20,000 to $50,000 category," Travers continued. "I have even sold a couple of Stellas [$4 gold pieces of 1879-80] in the last two months, including a Coiled Hair."

Why the great interest in gold coins? "People see gold coins as a safe haven for their money. Gold is one step above Treasury Bills as far as security is concerned in the minds of most people, and rare gold coins add to the appeal."

20th century coins continue to show strength.

The main interest in non-gold coins is focused on 20th century issues, according to Travers. "The phenomenal success of the PCGS Set Registry has kept interest high in Walking Liberty half dollars, Mercury dimes, Washington quarters and Lincoln cents. The key dates are not only worth just as much as a year ago, in most cases they're worth more. This is very reassuring. Such coins as 1919-D half dollars in MS64 or MS65 just aren't available."

Are the prices that are being paid for the modern issues justified? "Absolutely! Remember that building the finest sets of Washington quarters or Mercury dimes is recreational and not thought of primarily as an investment. Collectors are having a wonderful time building the best sets, maybe the best time in history."

Heritage to offer part one of Mike Casper Collection.

When it comes to great silver dollars the last two years have been a bonanza for collectors. The famed NFL set of Morgan dollars was sold recently, as was the finest set of Peace dollars. In November we'll see the Flannagan set of Bust dollars offered by Bowers & Merena Galleries as well as part one of the Mike Casper Morgan dollar set, which is being sold by Heritage Rare Coin Auctions of Dallas, Texas.

Forty-four of the coins from Casper's collection will be sold November 16, 2001 in conjunction with the Santa Clara show. Why only 44? "To be honest, I love the coins so much that I couldn't bear to part with all of them at one time," Casper said. Part two of the collection will be offered by Heritage at the FUN show in January of 2002.

Of the 44 coins offered in the first part, ten are the finest graded or tied for the finest graded. "Every coin in my set is PCGS-certified," Casper said. "In this first part I chose coins in all price ranges, from the inexpensive to some of the ultra-rarities."

"Tree Many Feathers" sale in late November.

One of the finest quality collections to be offered in recent years comes on the market in late November when Bowers & Merena Galleries offers the "Tree Many Feathers" collection in conjunction with the Suburban Washington/Baltimore Coin Convention. This sale was originally scheduled for New York City in mid-September. To view the lots or to bid online, click here.

Also being offered at the same show is another B&M auction, this one for The Collections of Phillip Flannagan, Dr. Robert I. Hinkley, Dr. John C. Wong and Tree Many Feathers. This exceptional sale will be online on Friday, November 9.