Weekly Market Report: Market Quiet in Final Week of the Year

It's that time of year, with family, football, bookkeeping and staying warm taking priority over rare coins for a few days. "Many dealers have closed up," says Fred Weinberg, a veteran dealer from Encino, California. "Most of them are getting ready for Orlando [where the 2001 F.U.N. show will be held January 3-7]. It is one of the best collector shows of the year, with great attendance and an upbeat mood that goes with the New Year."

Weinberg, a noted Mint error specialist, shared his knowledge of the current market trends in this area. "The Mint errors that are most in demand are the statehood quarters with the outer clad layer missing. Collectors especially like it when the missing layer is on the reverse, or statehood, side. Another extremely popular error is the blank planchet for the Sacagawea dollar. This error is a new composition, the first for a circulating coin since the zinc cents of 1982."

Other errors of interest include off-metal or off-denomination strikes, such as nickels on cent planchets or quarters on dime planchets. "A nickel on a cent planchet used to be below $100," Weinberg related, "but the prices have risen to where this error is a quick seller in the $500 range. For some reason the Mint isn't making errors with nickels on cents and quarters on cents. Some of the other sub-$1,000 errors have seen only a small rise in price over the years."

Hi-Ho, nobody home

After talking to Mr. Weinberg there was a flood of other calls made to other dealers across the country. After reaching six answering machines and endless ring-ring-rings it was obvious that the rumor was true: almost everyone has fled the scene.

The upcoming F.U.N. show is definitely a good reason to leave early for Florida. There will undoubtedly be major crowds looking at auction lots as two major sales launch the New Year in style.

Bowers & Merena and Heritage offer important sales

The Bowers & Merena Rarities Sale includes some important coins from The Pennsylvania Cabinet, a major collection that the firm has been dispersing for many years. One of those highlights is an 1867 with Rays nickel struck in Proof. It is believed that only 30-35 pieces were minted of this rarity. There are also some significant gold coins that were originally offered in the Thaine Price collection several years ago. This selection includes a 1909 $20 gold piece in PCGS MS66 that is tied for the finest graded.

The Bowers & Merena sale is also highlighted by some special offerings from the Jack Lee silver dollar collection. The most notable coin of all is the magnificent 1889-CC Morgan dollar in PCGS MS68. This superb piece is one of the few gem quality examples of the date known to exist, with the second-best example certified being a PCGS MS65. When the government holdings of Carson City dollars were dispersed years ago there were hundreds of thousands of examples of some dates available, but only one 1889-CC was ever found.

Speaking of silver dollars, the "NFL Set" of Morgan dollars that was assembled by former National Football League star Gregg Bingham is being sold by Heritage Numismatic Auctions. This spectacular set includes coins pedigreed to such famous collections as George Bodway, Jack Lee, Bob Brahms, Jack Gauya, Wayne Miller, Louis Eliasberg and many others.