Weekly Market Report: Rare Coin Market Expansion Continues as Rare Dates, Red Lincoln Cents, Commems, Modern and Early Issues Sizzle

The rare coin market continues to roll! No, you have not reached a recorded message, even though the marketplace is sending out similar positive vibes week after week. How many ways are there to say it? The market is expanding, showing strength and resilience, and almost everyone that I talk to is filled with enthusiasm.

"Last week you wrote about the F.U.N. show buzz still being in the air," said John Rothans of David Hall Rare Coins in Irvine, California. "Well, the buzz is still there! There are new and exciting things happening in the market almost every day."

Such as? "The PCGS Set Registry coins are smoking! The modern issues are selling extremely well, and that includes modern commemorative gold. Buffalo silver dollars are hot again, and they've moved up about 25% in price on the wholesale market with almost no supply available. Commemoratives [the 1892-1954 issues] are also going strong, with great demand for nice white coins or examples with pretty toning."

What about the rarer earlier issues? "Proof type coins have awakened from their prolonged slumber, at least for us," Rothans continued. "That's both Liberty Seated and Barber coinage. Right now we can't get enough of it. Of course, full red Lincoln cents are flying out the door. You just can't find the early stuff, and the coins in the 1930s, '40s and '50s are instant sellers in MS66 Red or better."

High quality dated material is showing renewed demand.

Bill Nagle is a veteran dealer from Lincroft, New Jersey, who has expanded his specialization in 19th century type coins to include 20th century dated material. "Type coins were so slow for a while that it was necessary to diversify," Nagle said. "The best sellers right now are Buffalo nickels, Walking Liberty half dollars and full red Lincoln cents in MS65 and MS66."

Gee, haven't I just heard that somewhere else? "I'm sure that any dealer who is active right now is going to tell you the same thing," Nagle continued. "Red Lincolns are on fire. Period. In the most popular PCGS Set Registry coins the Jefferson nickels and Washington quarters are in a world of their own."

What about type coins? "Things are much better for type coins, but they're still not hot, at least for me. The interest in rare dates has picked up appreciably, though. It's the 'find-me-something-neat-and-unusual' syndrome. This is true not only for Liberty Seated coins but for Barber material as well, especially the quarters and half dollars."

Anything else? "The early Walking Liberty half dollars -- up through 1934 -- are in great demand in both MS64 and MS65. Standing Liberty quarters are the same way -- MS64 and MS65 -- as long as they're full head specimens. The demand for non-full head examples is not nearly as great."

Kingswood "Gilmanton Sale" is growing in "leaps and bounds."

The Kingswood Coin Auctions "Gilmanton Sale" is on target to be the biggest Kingswood sale in history. "It's growing in leaps and bounds," says Cassi East, Director of Auctions for Collectors Universe.

New consignments that have been recently added include the rare 1896-S Barber quarter in PCGS MS65, an extremely Choice AU (PCGS AU58) 1795 3-Leaf Flowing Hair silver dollar and a 1907 Wire Edge $10 Indian in PCGS MS64.

The "Gilmanton Sale" will take place February 28, 2002, through online, telephone, FAX, e-mail and snail mail bidding. All of the lots will be available for viewing at the Long Beach Coin and Collectibles Exposition February 20-24 and/or by appointment.