Weekly Market Report: Hot, Hot, HOT! ANA Convention, Auctions and Everything Else Smoking

By Bruce Amspacher - August 6, 2002

Toned 1955 Proof Dime (reverse)

A rose by any other name smells just as sweet, said the Bard of Avon, and the sentiment is just as true for the 2002 ANA World's Fair of Money. Regardless of whether you call it by the aforementioned name or the "Summer ANA" or simply the "ANA," there's no doubt that this year's just-completed version was one of the greatest and most successful ever.

"This was the best show since 1990," said Larry Whitlow, a veteran dealer from Oak Brook Terrace, Illinois. "The market is extremely healthy and the climate is very, very favorable. The retail sales at the show were excellent. There is no problem selling pretty coins of any denomination."

Throw a dart, hit a winner.

Which areas of the market are doing the best? "There are so many strong segments that it would take forever to list them," Whitlow continued. "Almost everything is selling and there's tremendous enthusiasm. Color is definitely back, too, and customers don't mind paying the premium for the coin with eye appeal."

By stating that "color is back," Whitlow is making it clear that original coins with natural toning are in great demand. There were times in the past markets when there seemed to be "white coin fever" and the demand for fully brilliant specimens was so great that toned examples were virtually ignored.

"Another strong aspect of the market is MS64++ and MS65++ coins. I paid 20% to 40% premiums for these coins and I was still able to sell them. I'm talking about coins that will be MS64 or MS65 forever and are not potential upgrades but do offer something special in the visual impact department."

Bowers & Merena "Rarities Sale" booms and zooms.

Auction action was hot and heavy during the pre-ANA and ANA period and "The Rarities Sale" from Bowers & Merena Galleries was no exception. This one-day sale saw some truly remarkable prices for some truly remarkable treasures. For instance:

1792 Half Disme (PCGS VF20) - $32,200
1821 Bust Quarter (PCGS MS66) - $20,700
1842 Small Date Quarter (PCGS PR65) - $87,400
1838 Reeded Edge Half Dollar (PCGS PR66) - $97,750
1918 Illinois Half Dollar in copper (PCGS MS63) - $43,700
1794 Silver Dollar (PCGS VF20) - $66,700
1895 Morgan Dollar (PCGS PR66) - $50,600
1876-CC $5 Gold (PCGS MS65) - $138,000
1875 $10 Gold (PCGS PR64DCAM) - $117,875
1870-CC $20 Gold (PCGS XF40) - $149,500
1927-S $20 Gold (PCGS MS66) - $97,750
Pan-Pac Octagonal $50 Gold (PCGS MS64) - $42,550

"This auction was one of the greatest one-day sales ever," said Gordon Wrubel, Director of Numismatic Operations for Bowers & Merena. "The total for the sale was $7.9 million and tremendous interest was shown in nearly every area of the market."

Kingswood "Jackson" Sale closes August 8.

If you're interested in the super coins, currency and stamps in the upcoming Kingswood Coin Auctions "Jackson" Sale then the time to act is NOW. This diverse and highly popular online auction closes Thursday, August 8.

"I know that I say this almost every time that we have a sale, but this is the busiest one ever," said Cassi East, Director of Auctions for Collectors Universe. "The Kingswood sales continue to grow in size and popularity."

As is true with all Kingswood sales, every coin in the "Jackson" auction is certified by the Professional Coin Grading Service (PCGS). To view 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).