Auction Offerings Show Confidence in Market
Confidence in the prices that will be realized when selling into the rare coin market are once again to be tested as a 1787 countermarked Brasher doubloon overstruck on a 1760 British George II half guinea serving as its host planchet was set to be offered in the Sept. 12-15 Heritage Long Beach Expo US Coins Signature Auction. Perhaps of the most interest is that the coin isn’t being treated as the headliner at the sale! That honor is going to 488 lots of handsomely toned Morgan silver dollars from the Puccini Collection. Not all Morgan dollar collectors like their coins toned, but there is sufficient interest in this subfield that the results should be strong. The bottom line is that if the consigners of these coins weren’t confident the market is strong enough to realize profitable prices, these coins would not be coming up for sale at this time.
The non-circulating legal tender market is active as well. The United States Mint recently began accepting orders for its 2024 0.9995 fine palladium American Eagle (PAE) 1-ounce proof coins, these being the collector version of the PAE bullion coins.
The general public continues to show interest in the bullion and coins being offered through Costco, which reported a 2.6 percent increase in sales during the week of Aug. 21. Costco members were being offered two options: 20 silver American Eagles for $6,999.99 or 25 Canada silver Maple Leafs. The latter was sold out at an unidentified price at the time this article was being written. The retailer also offered its members options to purchase PAMP Suisse Lady Fortuna Veriscan and PAMP American Buffalo or PAMP American the Free Statue of Liberty 0.999 fine gold ingots priced respectively at about $2,569.99 and $2,549.99.
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