Truman sets triple in price

The secondary market for the Truman Coin and Chronicles set got a second wind in mid-July, taking prices to triple issue price, up from double reported just two weeks ago in the July 28 issue.

Where on July 16, ungraded Truman Coin and Chronicles sets were selling for $150 to $170 on eBay, by July 22, 10 auction listings averaged $190 a set while eight buy it now offerings averaged $184. The buy it now average is skewed downwards, though, by the sale of a set for $89. The majority of lots, both auctions and buy it now listings, have ended with sets purchased for $185 to $200.

Issue price June 30 was $57.95.

Sealed boxes of five sets receive attention because they can be sent in for First Strike or Early Release grading designations. Between July 11 and July 21, collectors could order a sealed box of five sets on eBay for $750 to $900.

On July 22, six buy it now listings for sealed boxes saw the cheapest lot going for $734 while the most expensive box was $999.

This averages out to $882 per sealed box of five sets.

Values for certified examples from third-party grading services PCGS, NGC and ANACS are even higher than triple the initial sales price, though only for perfect graded coins.
On eBay, a PCGS PR-70 First Strike reverse proof Truman dollar alone went to auction on July 13. After 46 bids, the coin sold for $3,601. By July 19, however, sets with both the dollar and medal graded PCGS PR-70 and MS-70 were trading between $1,675 and $1,902.

PCGS PR-69 graded coins were selling for $175 to $186 as of July 22.

On July 23, the PCGS population report stated that of the 457 reverse proof Truman dollars seen, 24 graded PR-70, 429 were PR-69 and four were designated PR-68.

As for NGC graded coins, two sets containing both the dollar and medal, graded PF-70 and MS-70 Early Release, respectively, sold for $799 and $800, the first on July 10 and the second on July 17.

Two more offerings of NGC graded sets were sold as buy it now lots for $1,295 on July 18. That same day, two lots of just the Truman reverse proof dollars graded by NGC sold, one in a buy it now listing for $1,495 and the other in an auction that went for $1,441.

NGC grading totals are not yet available for the reverse proof Truman dollar.

Several ANACS graded PF-70 and MS-70 lots of the dollar and medal together have sold in the range of $1,000.

It seems buyers are still figuring out a good market value for graded reverse proof dollars.

Matt Crane of L&C Coins, Los Alamitos, Calif., said he’s following the set’s secondary market performance on eBay.

“With a low mintage, there’s a high demand for them,” he said. “It’s a interesting concept including the reverse proof dollar.”

L&C Coins is selling PCGS graded PR-69 and MS-69 First Strike sets for $210. They had ungraded sets, but have since sold out of them, he said.

“We’ve had some good sales of the PR-69 and MS-69 graded sets,” he said. “Graded 70 sets are hard to come by though. We’ve only gotten one or two back from the grading services.”

He said he wonders what the secondary market will be for the next release in the series, the Eisenhower Coin and Chronicles set that goes on sale Aug. 11.

“The Eisenhower set will be interesting since he’s popular and there’s a lower household limit so it will be harder to get a hold of a quantity of them,” Crane said.

When the spotlight shifts to Ike, prices for the Truman issue might fall.

It’s unknown where prices for the Truman set will end up, but current values could give foresight into how much Eisenhower sets will go for when they enter the secondary market.

The Truman Coin and Chronicles set was offered by the Mint on June 30 and sold out in 14 minutes. The set contains a reverse proof Truman Presidential dollar, a first for the series, and a .999 fine silver medal.

• Subscribe to our monthly Coins magazine - a great resource for any collector!