From the Feb. 1 Numismatic e-newsletter: Will $10 million paid for a 1794 silver dollar send other rare coin prices higher? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
As a retired businessman, my feeling is that it’s all about advertising to a worldwide audience. If a real effort was made to make available our rare coins through a trading system based in the USA that would safely allow other countries’ citizens to purchase our rare numismatic coins, the value would go through the roof.
Just imagine there are many dates and mint states where less than 50 have been graded, and many where only exists less than 200-300 total coins. As we expand the market bases the sky’s the limit for many of these coins. Once struck these coins are one-of-a kind.
The second goal would be an anti- counterfeiting system; a place to send coins to be authenticated before purchases and/or strict laws of fraud for selling such coins on the internet or through online auction houses.
If we can inform and get a worldwide network of collectors say 300 million to 450 million people bidding on our numismatic gold and silver coins – think of the possibilities.
I really don’t think that one particular rare silver dollar that apparently sold for $10 million will impact the value of other rare coins; however, I would hope that it would, because I have a Dansco U.S. Major Coin Types (76 coins) that has taken me several years of research, and a lot of money to complete. The book contains many rare U.S. coins in various states of condition from F-12 Fine, too MS-70.
There are several coins in the book that are very valuable according to the The Official Red Book, one of which is a 1830 half dollar, which has the large letters UNITED STATES OF AMERICA on the reverse side of the coin.
By using the guidelines for grading in The Official Red Book (2013 Edition), this coin is either an Extremely Fine (EF-40) or an About Uncirculated (AU-50), which could be valued at approximately $9,000.
So with the aforementioned said, I would sure like to see an increase in price for numismatic U.S. coins.
Larry W. Young
Likely it will influence prices on 18th and 19th century U.S. coins.
Jane Colette Arge