Coins We Love - May 2
We’re a week past the Central States Show, and we concluded that the show was a success for DLRC. While it was not successful from a collector-based standpoint, the wholesale market was quite active. Unfortunately, Schaumburg isn’t the right location for a large coin show for collectors, but it brought out enough dealers that there was business to do! We long for the days of the rotating Central States venues as did every other dealer with which we spoke. You will however see a large number of new coins coming through the DLRC auctions in the coming weeks as a result of our buying there.
This week, I (John Brush) had the opportunity to work with the Utah State Historian on a really neat project featuring the Hansen Collection. May 10, 2019 marks the 150th anniversary of the completion of the Transcontinental Railroad where a golden spike was driven in Promontory, Utah. In commemoration of the event, there is an exhibit taking place at the Utah State Capitol starting May 10th that will display the Proclamation (signed by Abraham Lincoln!) that authorized the project, the golden spike, the silver spike, and the copper spike that were used in the construction process, as well as the hammer that drove the final nail into the ground.
In addition to these historic items, we are displaying the D.L. Hansen Collection’s 1869 Mint Set of U.S. Coins. It was quite an honor to work with the crew at the Utah State Capitol, and if you are in the area May 10th - June 10th, I’d encourage you to check out the display. Parking is free and the display is really quite impressive. Of course, you may ask how coins have anything to do with this historic American event. There’s much more on this at the display, but the historian would note that the Transcontinental Railroad changed how America did business. Coins were no longer transported via ship, the trip across the country could be made within days, not months, and true nationwide commerce was able to utilize this new system of transportation to truly jump-start the American economy in this Industrial Revolution. There are a few pictures below that show the progress of the exhibition. While it’s not quite ready for viewing, seeing the project behind the scenes come to fruition was a really exciting opportunity, and I hope that some of our readers gets a chance to see it!
Sincerely,
John Brush and Your Friends at DLRC
Why we love it: There’s nothing that says Utah state history more than the Mormon gold issues that were produced in the 19th century, under the auspices of Brigham Young himself. In fact, the first $20 gold piece ever produced in the United States came from the state of Utah. This fascinating piece symbolizes much about this state. With the prominence of the beehive in the Utah State Capitol (signifying Industry), this coin really stands out to me this week.
Value: While there are less than 50 pieces in the PCGS population report, all but three show some form of circulation. This is an unusually "affordable" piece that is a staple in U.S. history and is a fantastic coin to tell a story to fellow collectors. PCGS lists the coin with a value of $36,000, while the CPG lists an XF45 for $54,400. With the scarcity of the public offerings, we view our best price of $36,000 via Make Offer as a very fair number for this unusual find.
Why we love it: A scarce proof Gold Dollar Issue from a tiny mintage of only 1,006 pieces struck. This choice uncirculated example housed in an Old Green Label Holder features gorgeous orange-gold colored surfaces. The notable lack of marks and stunning, unique eye appeal certainly substantiate the CAC approval and even suggest it to be under-graded.
Value: There is no auction record of this exact date and grade combination in almost 12 years making this an incredible opportunity. The PCGS Price Guide finds this coin to be valued at $4,700 with the CPG coming in at a slightly stronger $5,000. However, we are offering this CAC approved example is just $4,650 via Make Offer.
Why we love it: The 1796 Draped Bust Dime is known for being both the first year of issue for 10 cent coinage and for being a desirable numismatic rarity. From a low mintage of just 22,135 coins struck, this relatively affordable example is wholesome and charmingly original with even wear and fantastic coloring. Perfect for any serious collector of U.S. Coinage and surprisingly accessible to most.
Value: The most recent sale in auction of this same date and grade combination came in 2017 and brought $3,995. Along with PCGS Price Guide and CPG estimates of $4,250 and $4,000, we find that our reserve of just $3,800 creates an excellent potential value to bidders on this incredible coin.
Why we love it: The VAM 203 or Short Leaf Variety of this already desirable date is difficult to locate in gem grades, especially shown by this coin’s position as tied for the finest known with just one other. An incredibly lustrous gem free of mostly any marks with blast white surfaces making it perfect for all VAM collectors and any Morgan Dollar enthusiast for that matter.
Value: This coin, being designated as the VAM-203 (Short Leaf) variety on top of being tied for the finest known graded by PCGS, defines the phrase “one of a kind” and is incomparable to any price guide. However, it is available via Make Offer at $8,250, which we feel creates an excellent value to advanced VAM collectors.
Why we love it: A popular and scarce early Bust Quarter that is perfectly suited for an impressive type set. This choice AU example represents the grade nicely as the coin is completely original and features pretty golden rim tints with lustrous centers. This Draped Bust Quarter issue comes from a moderately low mintage of just 220,643 coins struck.
Value: There is no auction record of this exact date and grade combination in over a decade making this an unexpected special opportunity. The PCGS Price Guide and CPG Value do find the coin to be worth a respective $6,000 and $6,250, although we have a fantastic best price available to acquire this Bust type coin of just $5,150 through our Make Offer function.
Why we love it: A better date Peace Dollar from the San Francisco Mint that becomes especially rare when found in gem condition. This satiny gem example displays pristine, lustrous surfaces that are mostly white with a touch of gold, which gives this scarce, desirable piece, lovely eye appeal. There is only one example of this Peace Dollar Issue graded finer by NGC.
Value: The PCGS Price Guide and CPG Value are identical on their estimates with a strong $20,000. Being right on point with each other should bring even greater assurance to bidders on the accuracy of the value estimation. Our NGC-graded gem example is available in this week’s auction with the reserve set relatively low at just $15,000.
Why we love it: A slightly better date D-Mint Indian Gold Eagle from a lower mintage of just 343,500 coins struck. These satiny surfaces boast frosty luster and lovely eye appeal that, along with a noticeable lack of marks, make for the perfect, ideal gem look. The issue being much scarcer in gem grades making this coin that much more desirable.
Value: The PCGS Price Guide and CPG Value are relatively close with estimates coming in at a respective $10,000 and $9,380 for this scarce stunning gem Indian gold piece. Considering those estimates, we are glad to offer a best price well into the 4-figures below both at $7,750 via our Make Offer function.
Why we love it: A scarce Three-Dollar Princess Gold Issue from a mintage of only 7,000 coins struck in which 2,592 were destroyed at the Mint. From the legendary Harry Bass Collection, this choice AU example displays faint wear and nearly perfect detail across all devices. Additionally, it’s the subtle remaining luster and ideal yellow coloring that makes this rare coin so pleasing to the eye.
Value: The PCGS Price Guide and CPG Value are close and quite high on their estimates of $7,500 and $8,120. Being so generous on their evaluations shows the respect both companies have for this rare date. Our NGC-graded example is available via Make Offer with a best price of just $5,750 even with the Bass pedigree.
Why we love it: A rare, early issue Liberty Quarter Eagle from the popular Charlotte Mint. This CAC approved, choice AU example possesses subtle remaining luster along with yellow-gold coloring and light even wear. Those characteristics, combined with the strong strike and incredibly crisp details in the devices, make for nice eye appeal for the grade. From a low mintage of just 12,822 coins struck.
Value: The PCGS Price Guide values the coin at $4,250 and the CPG Value is set at $4,120 even though neither factor in any premium for CAC approval. Being so close should bring even greater assurance to bidders on the accuracy of the value estimation. Our CAC stickered choice AU example is available in this week’s auction with the reserve set fairly at just $4,100.
Why we love it: The other white meat. When you think of 1907 $20 Saints, you think High Relief. However, the less popular version of this first year of issue has always seemed like a better value for us! This gem example possesses incredibly high-quality eye appeal and features beautifully pristine, fully lustrous surfaces with perfect, original rich golden coloring. This piece comes from a moderately low mintage of just 361,667 coins struck.
Value: A high relief from this year would run you north of $50,000! However, this less popular, but underrated issue is valued by the PCGS Price Guide at $6,000 with the CPG Value coming in more generously at $7,190. This stunning, lustrous gem example of this First Year of Issue Saint Gaudens is available for purchase via the Make Offer function for just $5,750.
Why we love it: A popular Philly minted Liberty Seated Quarter Issue from a lower mintage of just 118,200 coins struck in which there are only two pieces graded finer by PCGS. Truly a registry quality gem as this example is bested by just two others that are unaffordable to most. Subtle blue-green around the obverse rim and lovely rose-gold throughout this gorgeous gem along with incredible luster and pristine surfaces make for fantastic eye appeal.
Value: The PCGS Price Guide and CPG Value are exactly one thousand apart at a respective $8,500 and $7,500 for this beautiful, toned gem Seated Quarter. Considering those estimates, we are glad to offer a best price well below both at $6,750 via our Make Offer function.
Why we love it: This historic Shipwreck piece from the famous “Ship of Gold”, the S.S. Central America, displays lustrous near-gem surfaces with gorgeous yellow-gold coloring and other unique tones throughout. The CAC approval is unsurprising as it is confusing why this pristine example from the Shipwreck is not in an MS65 holder with its stunning surface quality and eye appeal.
Value: The most recent sale through auction of this same date and CAC approved grade combination came in 2018 and brought $10,200. Along with PCGS Price Guide and CPG estimates of $12,500 and $10,300, we find that our reserve of just $8,750 creates an overly generous value to bidders on this piece of historic numismatic treasure.
Why we love it: A great type coin for the Indian Cent series that is quite affordable yet still offers great beauty in its OGH Rattler Holder. This lovely near-gem displays blazing red surfaces that are completely original and full of incredible luster that all come together to create nice eye appeal.
Value: Offered via our Make Offer function for $230, this coin has a higher PCGS Price Guide value of $250. It’s an excellent value for this bright red, lustrous near-gem example of this popular Indian Cent type coin.
Why we love it: A scarcer, early San Francisco Mint Issue Lincoln Cent in lovely near-gem condition with pretty, bright red surfaces, which is hard to find for this date. The incredible lack of blemishes and strong luster give this coin nice eye appeal and even make it seem under-graded as it has the characteristics of a true gem.
Value: Available through our Make Offer function for $375, this coin is valued by the PCGS Price Guide at $400. That is a fair value for this scarce red, lustrous near-gem Lincoln Cent.
Why we love it: A better date Lincoln Cent from San Francisco. This wholesome brown near-gem example is true to the grade and its pretty toning provides some added excitement. There is a pleasing glow of magenta about the obverse and the reverse features the same magenta along with some green and gold.
Value: Offered via Make Offer for $650, this coin has a comparable yet still higher PCGS Price Guide value of $700. That is fair $50 discount from the price guide for this lovely better S-Mint Lincoln Cent.
Why we love it: A scarce matte proof finish Lincoln Cent in lovely near-gem condition with pretty brown tones and underlying red highlights. This piece looks like a true gem as the surfaces are so pristine that CAC certainly did not hesitate in approving it. The eye appeal is intriguing, and the marks are nearly obsolete.
Value: The PCGS Price Guide Value for this coin is set at $1,000 and that is not even factoring in the premium of the CAC sticker. We are offering this lovely near-gem matte proof Lincoln Cent with an estimate of just $900 as a no reserve lot in Auction #1064 even with CAC approval.
Why we love it:A lovely, original gem example of this great type coin for the Three-Cent Silver Set. This fresh, original piece offers pretty toning, strong luster and just simply immaculate surfaces overall.
Value: The PCGS Price Guide is not accurate in our opinion with their estimate of $1,750 for this coin but the CPG Value is far more realistic at $1,250. Even with that said our best price beats even the CPG Value as we gladly offer this pretty gem 3-Cent Silver for just $1,000 via Make Offer.
Why we love it: A stunning, flashy example of this proof type coin for the Three-Cent Nickel Series that comes from a lower mintage of just 6,609 coins struck. This gorgeous gem is nearly perfect as it is blast white and simply immaculate as there are no detracting marks. Between those characteristics and the absolute ideal eye appeal, the CAC approval is well-deserved.
Value: The PCGS Price Guide Value for this coin is set at $1,050 and that is not even factoring in the premium of the CAC sticker. We are offering this blast white pristine 3-Cent Nickel gem proof type coin with an estimate of just $900 as a no reserve lot in Auction #1064 even with CAC approval.
Check out all of the available "Coins We Love" from past newsletters