Weekly Market Report: Long Beach Week off to Great Start as Dealers and Collectors Crowd Southern California

It's Long Beach week once again, and that means that activity in the coin market will be at a fever pitch. Or does it? Have the events of September 11 changed the coin market? Is Long Beach, a standard market bellwether, going to continue on its winning ways, or is there a major slowdown on the agenda? So far, the answers are nothing but positive.

"The auctions are as active as ever," says John Dannreuther of JDRC, Inc., in Memphis, Tennessee. "There are always several important auctions preceding or during the Long Beach Coin and Collectibles Exposition and this time is no exception. The prices so far are strong and the rooms are filled with collectors and dealers alike. Evidently 90% or more of the numismatists from across the country decided to go ahead and come to Long Beach."

The Long Beach show opens to dealers on Wednesday, October 3 and will be available to the public from October 4-7.

A Republican and a Democrat have finally agreed on something! A "Spirit of America" commemorative coin has been proposed by Republican J. C. Watts of Oklahoma and Democrat Eliot Engel of New York. The two representatives envision a coin with the US flag, the Pentagon and the World Trade Center towers.

"This coin will not only be a reminder of the tragedies inflicted upon our nation but more importantly capture forever the spirit of America-one of a united people whose belief in freedom has never swayed," Watts said.

The Intermediate People's Court of Taizhou in eastern China has sentenced five men to death for minting and selling counterfeit one-yuan coins. Another defendant was sentenced to "death on probation" (whatever that means!) and 24 others received jail terms of up to 15 years.

The People's Daily reports that since the crackdown on counterfeiters took place six months ago that the crime rate in this area has dropped by 90%.

The Kingswood Coin Auctions "Franklin" sale is now online. Kingswood sales are one of the most popular Internet/fax/e-mail/phone/snail mail auctions in the world, and the comprehensive "Franklin" sale, originally scheduled for October 11, promises to be the one of the best ever.

"We will be showing lots at Long Beach through Saturday," said Cassi East, Kingswood auction representative. "We have already seen heavy action from the Internet bidding and received numerous calls from dealers and collectors who wish to inspect the lots." To view the lots and to bid online, click here.

Here are some of the highlights of this upcoming sale:
1843 Original Half Cent PCGS PR63 Brown
1856 Flying Eagle Cent PCGS PR64
1861 Three Cent Silver PCGS MS67
1863 Liberty Seated Half Dime PCGS MS66
1796 Draped Bust Dime PCGS AU58
1898 Barber Half Dollar PCGS PR67
1799 Draped Bust, LE Dollar PCGS AU58
1882-O Morgan Dollar PCGS MS65DMPL
1890 Morgan Dollar PCGS PR67 Cameo
1898 $2½ Liberty Gold PCGS PR67 Cameo
1804 Capped Bust $5 Gold PCGS MS63
1928 Hawaiian Half Dollar PCGS MS65

"Tree Many Feathers" Sale now set for November 28.

If you haven't looked at the Bowers and Merena Galleries "Tree Many Feathers" auction, then you've missed one of the most exciting sales in recent memory, especially if you're interested in high quality US Patterns, copper, gold and early type coins. This landmark sale was originally to take place in New York City on September 14-15, but the date was changed following the terrorist attacks on September 11.

Now scheduled for Baltimore on November 28, this important offering can be viewed strictly for perusal or for bidding by clicking 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).

1796 Draped Bust Dime PCGS AU58 offered in Kingswood Sale

1796 Draped Bust Dime PCGS AU58 offered in Kingswood Sale