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Rare Coins Take Center Stage at ANA

(Images courtesy Heritage Auctions. 1804 silver dollar image courtesy Stack's Bowers Galleries.)

(Images courtesy Heritage Auctions. 1804 silver dollar image courtesy Stack's Bowers Galleries.)

The strength of the rare coin market was recently at center stage for everyone to see. Within a 24-hour period during the recent American Numismatic Association World’s Fair of Money, a 1794 and an 1804 silver dollar as well as an 1861 Paquet Reverse Coronet $20 double eagle were auctioned for a total of $21.5 million. All three coins were sold to a dealer who stated he was representing collectors, not making the purchases for inventory.

Consider the entire world of collectibles to be on a roll if you like. Certified Collectibles Group recently announced it is starting a CGC Video Games grading team to complement its coins, comic books, concert posters, magazines and trading cards divisions. If anyone wants full time employment in the business of coins, all you have to do is ask.

The health of the scarce to rare portion of the business of coins continues to perform well not just for date rarities, but for condition rarities as well. Collectible yet more available coins and bank notes continue to be swept up by collectors faster than dealers can restock.

The bullion and bullion impacted sector has had its ups and downs recently, but gold appears ready to appreciate once more as the U.S. Federal Reserve Bank hesitates to taper its monetary policies and the dollar once more reacts appropriately on the world markets.

New issues being released by the U.S. Mint continue to be an area of keen interest not only as the coins are released, but into the secondary markets as well. Even some of the hotel buyers have dipped their toes back into the action. This is a great market.