Rare Coin Market Report – The Thrill of the Hunt & Market News
Dear Rare Coin Enthusiast, What most NON Collectors don’t realize is how big a ‘thrill’ we Numismatists and collectors (in general) get out of the hunt or quest for that hard to find item. Whatever you want to call ‘it’, the ‘thrill of the hunt’ is a very big part of what make Numismatics FUN! Recently, I was able to purchase a significant Seated Liberty Dollar Collection. While the majority of these coins aren’t in the ‘glory’ grades of MS64 and better, the set is nearly complete and the average grade is AU or better. Only three coins (the 1851, 1852, and 1870-S) were missing from this very scarce and desirable set. The set, when it came to me, was housed in original Wayte Raymond coin boards. Experienced numismatists will especially appreciate how scarce this ‘Old Time Collection’ is in terms of both supply and originality.
The Mint State (business strike) Seated Liberty Dollar set is comprised of 44 coins. Included in the ‘Old Time Collection’ are eight coins in MS60 or better plus three MS60 detail ‘net grade’ coins. This Seated Liberty Dollar Set was put together back in the fifties by a numismatist with an ‘eye’ for both detail and originality. Although there are some ‘net grade’ coins, the detail and overall originality is QUITE high end. Not only does the set contain ALL the Carson City issues, but the early issues are especially nice with many high end coins which overall AVERAGE AU plus.
This ‘Old Time Collection’ came to Bozarth Numismatics through a private individual who appreciates his anonymity. Although well known in the numismatic community and a consummate numismatist, he chose to have our firm handle this transaction. Not only are we thrilled to be able to handle this ‘Old Time Collection’, but the transaction was a lot of fun. Not often do we get to see an original Seated Dollar collection in Wayte Raymond boards, but a ‘fresh to the market’ set which hasn’t seen the ‘light of day’ in over five decades is a real THRILL.
I first viewed this ‘Old Time Collection’ at the Denver ANA Spring Show last month. I was enthralled with the first eight coins (1840-46-O) Wayte Raymond ‘board’. Not only were the coins nearly fully detailed, but virtually all of the coins have lovely original ‘crust’ and patina that only comes from decades in original coin boards. For the most part the coins in the set have that light to medium old gold and deep blue green album toning one would expect, but the underlying luster really makes this set something special. The gentleman who built this set took his time and bought highly detailed and very well matched original pieces.
After some negotiation we came to an agreement to purchase the set. The owner specified we try and keep the collection intact as a set after grading. The original set will be offered at the Baltimore Coin Show later this month for the first 24 hours after the show opens. IF the set hasn’t sold as a Complete set by the end of business Thursday evening, we will offer the coins in the set individually Friday June 29th. For a preview of what is in the set, please visit our website Bozarthcoins.com prior to the Baltimore Show. The coins will be available on our website Friday June 29th also. There will be no pre-sale individually prior to the morning of June 29th.
The market has really been slow lately. Dealers I spoke to after the Long Beach Show were concerned both with the market and the continuing slide of that ‘great’ show. Yes, the Long Beach Show is suffering, mostly from the economy, but also from a lack of interest. Collectors and dealers alike have a limited amount of money to spend regardless of how good ‘the deal’ may be. When you compare the total number of shows and auctions against the dollars available to be spent on numismatic items, you can begin to comprehend the problem. Too much product, too little capital!
Take for example the great selection of coins in the Heritage Auction at Long Beach. Yes, some coins brought great numbers, but the vast majority of auction lots fell into the ho-hum category. Like the auction, the action on the bourse floor was FLAT at best and a couple of dealers I spoke to had virtually NO sales to the public. The ‘powers that be’ running the Long Beach Show have made some nice improvements, but….were the improvements worthy of table price increases to dealers in the back of the bourse floor who just recently returned to the show?
Great coins are still bringing great money, but a lot of very nice coins are not selling. Fortunately there are only a few major auctions and shows between now and the Philadelphia ANA Show in August. From this side of the bourse table, it appears to me that both dealers and collectors need some time to regroup. We are buying and selling coins at a pretty brisk clip, but we are being more cautious with our spending especially going into the Summer months.
Bozarth Numismatics Inc is a full service rare coin dealer. We buy and sell PCGS, NGC, and CAC graded and approved high grade U.S. coins. We sell coins at shows and on both our website bozarthcoins.com and in our Ebay store bozarthnumismaticsinc. Because of our extensive show and buying travel schedule we can often locate those ‘hard to find’ items. We offer free confidential want list services and will call or email you ‘first’ if we locate an item for you. Thanks and Best Regards, Vic Bozarth/The Rare Coin Road Warrior.
Our Show Schedule for June and July include the following shows:
NGC Trade & Grade Las Vegas, NV June 12-14 TABLE
Greater Chicago Show Tinley Park, IL June 20-22 TABLE
Whitman Coin Expo Baltimore, MD June 28-30 TABLE
Summer FUN Convention Orlando, FL July 12-14 TABLE
PCGS Trade & Grade Las Vegas, NV July 18-20 TABLE
Missouri Numis. Society St. Louis, MO July 26-28 TABLE