Foreign Coins
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Monday, February 20th, 2006
What a week we had last week for Proof gold, it seems as long as they are available to find and list, they are out the door sooner then later. That’s the problem though, finding “nice and rare” Proof Gold. There just is not enough of it out there to satisfy the demand which is good in more ways then one. It is definitely driving up the prices and they are getting the respect they very well deserve.
We had up for only 3 days two fantastic Proof Eagles – 1897 $10 PR64DCAM PCGS (a coin with a tiny mintage of only 69 and only 30-35 survivors of that number) – 1899 $10 PF65 Ultra Cameo NGC (a coin with a tiny mintage of only 86 coins and only 30-35 survivors of that number) – Gold sales totaled over $120,000.
But don’t count out beautiful silver coinage, we also sold an amazing 1923-S Mercury Dime in MS66FB PCGS, a coin with colors that were out of this world and along with that another toned beauty was an 1887-S Seated Dime MS66 NGC – Both of these coins had swirls of vibrant colors that just blew your mind! Like I stated last week when I spoke about toned coins that will command premiums over the next year because of the uniqueness and shortage of originally toned masterpieces from too many coins being dipped out. Looking at these coins they really do look like masterpiece paintings, you can just hold them under a lamp and stare at them for ever.
A service I really like in which provides is their “market price guide”. In this it shows each series of coins broken down by grade with a true market value which reflects more of a “reality” retail price then any other guide I’ve seen. They also use green numbers with arrows pointing up for dates by the grade, red numbers with arrows pointing down for grades that are dipping slightly and black numbers showing no change. I think this is fun for the collector and a reality check for everyone to show how big and legitimate this industry really is. There is also the “coin dealer newsletter” (grey sheets) which shows dealers sight seen bid and ask prices, sometimes customers get this confused thinking it’s a price guide and that they can buy coins at these prices which in turn becomes more frustrating for them more so then the dealer.
I write a lot about Proof Gold and how scarce these are to find, but don’t get me wrong there are plenty of other gorgeous and rare types of coins that I do enjoy just as much, take for instance Pristine Gem Civil War era coinage like the Half at our webpage from 1864, simply amazing to think a business strike coin from that era was kept in such perfect condition. That makes me think of things like, “who’s collection could this have been in all these years? “ “What drawers, safes, or banks could this have been in throughout time?”
These are the questions because coins to me are like mirrors or doorways into the past, each design describes the atmosphere in our great country at the time, and it shows us the skill our engravers had with tools that have been taken over by computers now. It teaches our children about our country also, when I sit on the computer with my children and bring up our webpage I show them the dates on the coins and explain what was happening in our country at the time. “History,” that is the word that intrigued me as a kid to start learning about coins and it is a word people should rediscover when they are caught up in the “money and profits” letting those two words be their drive to collect. There is nothing wrong with wanting to make money from coins, I do and my business depends on it, but all I’m saying is to think about the stories and history of each coin because it makes it more fun and when it’s more fun you start buying the right coins and the profits will just come with that because it’s what is right.
Keep a look out because we should be getting a lot of new coins in over the next week.
Dean Albanese