Weekly World Numismatic News for March 28, 2021

What is the price of a coin?

There are many answers to that question. Some will point to price guides. Others will argue that one price guide is better than others. Then some people will deliver a dissertation about supply and demand and the commodity price of the metals to explain their answer.

The price of a coin is whatever the price one person will pay.

In an auction, people will bid until the price exceeds what all but one participant will pay.

This past week, Heritage Auctions sold a 1935 George V silver Pattern “Waitangi” Crown sold for $72,000, a New Zealand coin record.

In Las Vegas, Stack’s Bowers Galleries sold the only privately owned 1822 Half Eagle for $8.4 million. The other two examples are in the Smithsonian Museum. It is the second-highest amount ever paid for a U.S. coin.

These sales come the week after a George VIII Gold Crown sold for £1 million, a record price for a British coin.

Back down to earth, those who were shut out of the 2010-W American Silver Eagle sale are finding the secondary market selling these coins for upward of $150, double their sale price. Collectors trying to maintain complete collections are paying these markups.

Over a year after the coronavirus pandemic shut down the country, there seems to pent-up demand by collectors. All types of numismatic auctions, except scripophily, are experiencing extraordinary realized prices from auctions.

The strong demand is bringing people out of the woodwork trying to cash in. Major auction houses are lowering their commission to attract new sellers of high-end merchandise. Medium-sized auction houses have been contacting collectors looking to sell smaller collections usually left to estate and liquidation auction services.

Collectors are paying higher prices for coins. A recent liquidation auction, an ungraded 1880-CC Morgan Dollar with many problems, including questionable toning, may be worth about $100 according to the price guides. The coin sold for over $200 with buyer’s premium.

If this is how the market is reacting while contact continues to be limited, imagine how it will be when everything is fully open for business.

And now the news…

 March 22, 2021

By Rajiv Shah Gujarat’s top Dalit rights organisation, Navsarjan Trust, is all set to initiate a unique campaign under which families from different parts of the country will contribute a brass article or a utensil — all of it will be melted and minted into a 1111 milligram diameter coin with the question engraved on it: Will the 1947 dream of untouchability-free India be reality yin 2047?  → Read more at counterview.net

 March 22, 2021

Are you a fan of United States coins? Perhaps you are also interested in creating a long-term investment opportunity.  → Read more at azbigmedia.com

 March 25, 2021

A 19th century coin sold for $8.4 million Thursday at a Las Vegas auction, becoming the most valuable U.S. Mint gold coin ever auctioned. The 1822 half eagle, a $5 coin with only three copies in existence, was sold at the Stack’s Bowers Galleries Las Vegas Auction.  → Read more at reviewjournal.com

 March 26, 2021

Neil Mahrer, Scott Miles, Richard Miles, Olga Finch, Reg Mead. Picture:DAVID FERGUSON.  → Read more at jerseyeveningpost.com

 March 27, 2021

This 1935 Pattern Crown coin is a record-breaker. Photo / Supplied  → Read more at nzherald.co.nz

 March 27, 2021

Ceuta Coin Find Dates Back To 7th Century. image: twitter Ceuta Coin Discovery Dates Right Back To The Byzantine Era Between 602 and 610 AD
  → Read more at euroweeklynews.com

 March 28, 2021

When I turned twenty-one, my father gifted me twenty-one silver dollars, which his father had given to him when he was the same age. Most are from the early 1900s, and one is even from the late 1800s.  → Read more at americanlifestylemag.com

If you like what you read, share, and show your support