Weekly Market Report: Rare Coin Market is Diverse and Active as Dealers and Collectors Remain Enthusiastic

By Bruce Amspacher - September 12, 2001

1895 Quarter Eagle PCGS MS66 offered in Bowers and Merena sale

The rare coin market is getting more interesting every week. Price records are falling like the last leaves of autumn in some series, while other areas are relatively quiet. If you own the finest certified full red Lincoln cents or Deep Cameo Proof coins or Washington quarters, the numismatic world will beat a path to your door. The top end of the market ($200,000+ coins) is also remarkably strong, but an MS67 Liberty Seated dime may sleep in a dealer's inventory for months.

"As good as the market is, there are still segments that need better coverage," says long-time dealer Ron Iskowitz of Palm Harbor, Florida. "The answer might lie in market specialization such as we see in the stock market."

Market specialization? "There are numerous silver dollar dealers, many commemorative specialists and many more dealers that buy and sell gold coins exclusively. If the dealers showed more participation in the Liberty Seated coinage I guarantee you that the collectors would follow."

Isn't this already happening with the cameo Proof type coins? "Yes, it is," Iskowitz said. "It seemed logical that if a Proof Franklin half dollar was worth $20 in Proof 65 and $35 in Proof 65 Cameo and $300 in Proof 65 Deep Cameo that a similar breakdown might occur for the 19th century and early 20th century coins as well. That's precisely what is happening. Now the Pop Reports [population reports on the number of coins certified in each grade] will show just how scarce these coins truly are in top condition."

What is the secret to success in the coming market? "See it, like it, buy it," Iskowitz concluded. "The collector seems to always do better in the end because he buys what he likes and enjoys it."

Market is diverse, healthy and active!

"There is more diverse interest in the rare coin market than ever before," says Kevin Lipton of Beverly Hills, California. Lipton, a 25-year veteran in rare coins, continued by saying: "I am optimistic about the market for numerous reasons. The ANA Convention was absolutely incredible. Yes, there was a lull at the end of August, but that's been true in 19 out of the last 20 years. The market is a little weird, with modern coins so hot and type coins so cheap, but it is healthy and active."

What do you find to be the best areas right now? "The Proof coins of 1936-42 are highly sought," Lipton continued. "That's not just the Walking Liberty half dollars and Mercury dimes, but everything including the Lincoln cents, the nickels and, of course, the Washington quarters."

"Tree Many Feathers" auction is postponed.

The "Tree Many Feathers" collection has been postponed because of the national tragedy on September 11. A new date for the sale has not been set at this time. The sale has been mentioned in this column several times in recent weeks, and for good reason. The offering by Bowers & Merena Galleries includes a spectacular selection of high-quality rarities. The auction lots are still listed online for your perusal. To view the coins and descriptions, click here.

Here are just a few more of the many notable highlights in this sale:

1857 Flying Eagle Cent PCGS PR65
1909 V.D.B. Lincoln Cent PCGS PR66RB
1795 Half Dollar PCGS EF40 (Overton 116)
1964 Half Dollar 25% Off Center PCGS MS63
1878 8TF Morgan Dollar PCGS MS65DMPL
1888 Morgan Dollar PCGS PR65
1895-S Morgan Dollar PCGS MS64DMPL
1869 Gold Dollar PCGS MS67
1895 Quarter Eagle PCGS MS66
1861 $20 Liberty PCGS MS64
1939-S Oregon Trail Half Dollar PCGS MS67
Literally hundreds of silver commemorative half dollars!
A sensational offering of US Pattern coins that we highlighted two weeks ago in this column.

Plus much more! It's a sale that you don't want to miss. We'll let you know the new dates and location of the sale as soon as possible.

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).