Market Report

Major Auctions on the Docket as Long Beach Expo Nears
Bowers & Merena Sale of the Lucien M. LaRiviere Cabinet to take place May 21. Kingswood "Durham" Sale scheduled for June 7. Superior Galleries to offer another big Pre-Long Beach auction, including a large selection of early $5 gold pieces. Small US gold remains the hottest area of the gold market, with silver dollars continuing their excellent showing. Bowers to offer Kellogg $50, Dubosq $10.
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Subscribe to the online PCGS Population Report for as little as $4.95 a month! Updated weekly, get the latest census data on all coins graded by PCGS. Click here for a preview of the population data for $2 1/2 Indians.

The Expert's Corner

Check Out Authenticity In All Price Ranges
Rare coin expert and PCGS president, Rick Montgomery, takes a close look at a counterfeit or altered coin that was submitted to PCGS. The coin in question is an 1896-P Morgan dollar that has been altered by the addition of an "S" mintmark.
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Search for your favorite PCGS Authorized Dealer by specialty. Looking for $2 1/2 Indians? Go to the Authorized Dealer link on the PCGS website and click on Gold Coins in specialties. Looking for dealers with internet sites? Click on the Internet sites link in services. Search for more than a 1,000 dealers in the PCGS Authorized Dealer listings.

Set Registry Spotlight

The Sunnywood Collection - MS $2-1/2 Indian Set - The Number One Finest Set of All Time
Although new to the registry in 2001, the Sunnywood Collection quickly powered into the top spot. With the exception of the 1911-D, which grades a very nice MS64, all coins grade MS65 or better. This lustrous set contains a remarkable seven coins tied for finest certified at PCGS: 1909, 1911, 1914-D, 1925-D, 1926, 1927 and 1928!

How does your set stack up? The PCGS Set Registry has several hundred sets registered with new sets being added every day. Click here to visit the Set Registry.

Our Readers Ask

Question: As a newcomer to silver dollar collecting, I am puzzled about the term, "Reverse of 1878" and also "Reverse of 1879." What do these mean, and can a lay person such as I tell the difference? Should I collect each variety if given a choice?

Answer: The "Reverse of 1878" nomenclature refers to the reverse style, seen on certain (but hardly all) Morgan varieties 1878-1880, with seven tail feathers, flat or concave eagle breast, and with the top arrow feather parallel to the shaft, the last being a quick point of reference-no magnifying glass needed! The varieties known with the Reverse of 1878 are: 1878 (some; plentiful), 1878-CC (all), 1879-S (only a few; Walter Breen estimated fewer than 1% of the total; the Redfield Hoard yielded most of the known supply, Mint State), and 1880-CC (some, perhaps 10% to 20% of the mintage).

The "Reverse of 1879" nomenclature refers to the reverse style with 7 tailfeathers and with the top feather slanted. The varieties known with the Reverse of 1879 are: 1879 (all), 1879-CC (all), 1879-S (some; plentiful), 1880 (all), 1880-CC (some; plentiful), 1880-O (all), 1880-S (all), and all later issues through 1904, with several minor variations being made along the way.
--Q. David Bowers, Bowers and Merena Galleries

Do you have a question you would like to ask our experts? Click here. Or, visit the PCGS messageboards, the most active coin forums online.


The Cabinet of Lucien M. LaRiviere, Part III, brought to you by Bowers and Merena Galleries, will bring to auction further superb offerings of Betts Medals, Indian Peace Medals, and rare and desirable U.S. coins from all series. To view the sale online until May 19 click here.

Internet bidding for this sale will constitute presale bidding only. All lots will be sold in live auction sessions on May 21, in New York City. For further details call 800-458-4646.

Lyn Knight Currency Auctions "The Long Beach Sale" available now for online bidding until May 31st. A live floor auction commences June 1-2, in Long Beach, California.

This sale features 1,700 lots that will appeal to beginning and advanced collectors alike and includes:

  • 200 stocks and bonds, some with autographs of famous Americans
  • United States obsolete currency
  • Postal notes
  • Fractional currency
  • Military Payment currency
  • A large selection of Error notes, including a number of rare inverts
  • One of the largest selections of U.S. Small Size currency we've had in years, including many low serial number and Star notes and an uncirculated $5,000 bill and $10,000 bill
  • Canadian Bank notes
  • A very nice collection of California National Bank notes from a variety of collectors, highlighted by the financial history of the First National Gold Bank of Santa Barbara, California, of which two of the bank notes are unique.

    Lot viewing will be available at the Long Beach Show. To order your catalogue and receive more information call 877-472-7489.

    View Lots and bid online now at!


    PCGS will be offering on-site grading service at the following show scheduled for late May, early June:
    Long Beach Coin and Collectibles Exposition
    Long Beach Convention Center, Long Beach, CA
    May 30 - June 2, 2001

    Take advantage of PCGS' Show Service!

  • Special Show Service -- $60 per coin valued at $1,500 or less
  • Standard Show Service -- $100 per coin Coins may be submitted to all other PCGS grading levels at the show.

    Have your coins graded by PCGS and save on one-way postage! You may submit your coins at the show to all PCGS grading service levels. Submissions will be accepted from Wednesday, May 30*, through 4 p.m. on Saturday, June 2. Your PCGS-graded coins will be mailed to you following the show.

    Wednesday, May 30 is Dealer Set Up Day. We'll be accepting submissions from 2 p.m. - 8 p.m. on May 30. Check with the show promoter for access to the facility.

    Long Beach Coin and Collectibles Exposition Show Hours are as follows:

    Dealer schedule Public schedule
    Wed. 5/30 (Set up) 2 p.m. - 7 p.m.
    Thur. 5/31 8 a.m. - 7 p.m. 5/31 10am - 6:30 p.m.
    Fri. 6/1 9 a.m. - 7 p.m. 6/1 10am - 6:30 p.m.
    Sat. 6/2 9 a.m. - 6:30 p.m. 6/2 10am - 6:30 p.m.

    For more information about PCGS grading at the show, call

    For more information about the Long Beach Coin and Collectibles Exposition, call 805-962-9939 or go to


    With the June 1st deadline rapidly approaching, there are only a few weeks left to submit your essay. If you are a numismatist in high school, PCGS invites you to write an essay on the history of the rare coin market, any indvidual U.S. coin series, or a coin variety or group of varieties. The first place winner receives a $5,000 scholarship! Click here for details about this exciting contest.

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