Week of March 20, 2006

What is on my mind now once again is Proof gold, the hobby of the kings, the Numismatic dream, the true caviar of coin collectors. Why this is on my mind is simple, prices are going to new heights never seen before in this market and we’ve handled some super amazing pieces in the past couple weeks, more then the average dealer handles in a year or more. I am not bragging, I am just expressing how blessed we feel to have handled such rarities. There are some coins in which dealers never get to hold, or even view in a life time, only read about and dream about. My father and I have held, and sold some of the rarest Proof gold on the planet and every time we thank god for blessing us with this opportunity. Proof gold is its own specie in the money world; its texture makes the proof appearance so captivating being so delicate and soft with mirrors that are as deep as space and the substance itself is intriguing – soft to the touch, resistant to corrosion and, above all, enchanting to the eye, with a dazzling yellow glow that shimmers as if the magical metal had come straight from heaven, not earth. This is neither debate nor even an opinion, its stands, Proof Gold is the best!

Last week I traveled to a private collectors house somewhere in the Northeast while all the other dealers were playing the game at the Baltimore show. This collector is a true lover of the dazzling yellow glow and has the collection to prove it, a collection that many men would stand speechless if their eyes were to take view upon it. This mans house lay in the hills surrounded by beautiful forests and whenever I go there it’s like a dream come true for me being able to sit back and gander at these wonderful treasures in which I’ve assembled from my travels around the world and our contacts of wonderful people who give us the first chance to sell these coins. I also get to sit in a room where Napoleons sword rests in a glass case while I read and do my writings. I sat back this time and viewed coins such as the 1804 $10 plain 4 Proof example, a coin in which 3 months prior we had on display at the Smithsonian. Sitting by this was King Farouk’s 1838 Proof Eagle and underneath both lay an array of coins I had just brought for his new purchases, coins like an 1864 Proof Eagle certified by PCGS PR64DCAM, this coin has only a mintage of 50 coins and far less then that survive. Another was the 1897 $20 PF65 Cameo NGC, a coin with only 86 coins being minted and between NGC and PCGS only 52 show to have been certified, excluding the crack outs and re submissions. I feel like Indiana Jones going on historic missions to bring back the treasures to the museums every time I bring new treasures to him.

Besides this collector we have a handful of other clients who trust in my father and I to do honest work (findings) for them, we put our hearts into this field because of our love for coins, and by staying true, honest, and patient we have been going in the direction we only dreamed about years ago. Proof gold is a field in which the values only keep rising, a series of coins in which no one can debate the rarity or values, especially because we have created a big part of why the prices are where they are and we keep pushing them up. I’ll tell you this, you will not be able to touch a Proof 64 example of a Double Eagle for under $200k in a year, and these coins along with majority of proof gold and early business strike gold are true American Rarities. The people finding this fact to be true are people dropping millions and millions on single original paintings and antiques; these are lovers of history, art collectors I will say. United Sates Rare Gold coins are getting the respect they deserve and I will say we are a reason in helping the word get out there to the public to educate those who should know deservingly. The value is all there by going to the natural factors, “Rarity, Eye appeal and now more consumers then the product!” More consumers then the product, this means there are more people looking for the coins then the coins themselves. That is a huge factor in why the prices are going up also, just a few months ago I had two “no it alls” pass on a Super Rare $10 Eagle in PF66 Ultra Cameo for only $90k because they said it wasn’t worth that, well now Proof 64 Ultra Cameo’s are bringing $120,000 plus. That puts that PF66 Ultra Cameo and most others over $140,000 easily. Sorry for those guys!

Like I’ve always said, I’m not writing these to try and sell coins, the coins sell themselves, I write these write ups to educate people and advise them in which direction to take. You get what you pay for, that has been the line of truth for as long as man has sold anything, and with Proof Gold, and early business strike gold you are going to pay, but unlike any other area of coins, that price you pay will only be paid once at that range, for all others after will have to pay more.

Cheers,
Dean Albanese
dean@coinace.com