First 2023 Shows Report Increased Attendance, Sales

The three initials, “F-U-N” for Florida United Numismatists and the three-letter word, “wow” have something in common following the recent convention in Florida. Dealers at both this show and the New York International Numismatic Convention at which foreign and ancient coins are sold that followed, reported some of the best attendance and best sales that have been experienced in some time.

The Heritage FUN auction included 103 lots from the Harry Bass Collection, 30 of which set new records. The unique Specimen-50 1870-S $3 gold realized $5.5 million, but the more interesting statistic is there were 73 bids received for the coin. The finest known 1795 Capped Bust Right $10 eagle, this graded Mint State 64 realized an impressive $2.1 million. There were 2,389 registered bidders at the Heritage auction, which reportedly realized a total of $24,322,741.

If the price of these coins is too frothy for you, consider the upcoming GreatCollections auction of Stewart Blay’s “Red Copper” Lincoln Cent collection. Many of these cents are the finest known.

While rarities appear to just keep coming forward for sale, ironically during 2022 the U.S. Mint sold slightly less than 16 million silver American Eagles, a decrease of 43.5 percent from sales of more than 28.2 million coins one year earlier. Sales of American Eagle coins dropped to their lowest level since 2019. Part of the Mint’s problem is that by purchasing coinage blanks from outside vendors rather than making them in house, there is extra cost involved.

Secondary market demand remained strong, as did the market for generally more available yet collectible coins.

The year is starting out with a bang, with much more yet to come.