The First Art Newspaper on the Net   Established in 1996 United States Wednesday, September 18, 2019


Record prices in 2018 U.S. rare coin market, reports Professional Numismatists Guild
Dealers organization estimates the U.S. rare coin market was over $4 billion in 2018.


TEMECULA, CA.- Quality was in the eyes of the bidders in the multi-billion dollar United States rare coin market during 2018, according to a year-end tabulation conducted by the Professional Numismatists Guild, a nonprofit organization composed of many of the country’s top rare coin and paper money dealers.

While prices declined during the year for some U.S. coins in easily available lower grades, hundreds of noteworthy coins from early American to modern that are among the finest known of their kind set auction price records.

Based on responses to a year-end PNG questionnaire, the aggregate prices realized for all U.S. coins sold at major public auctions in 2018 totaled more than $345 million, compared to $316 million in 2017. The PNG estimates the overall U.S. rare coin market in 2018 was over $4 billion not including sales by the United States Mint or bullion coins, such as gold and silver American Eagles.

“With the stock market dropping during the fourth quarter of 2018 we saw an increase in interest in the rare coin market with some people taking profits from stocks and buying coins that have proven to show sizeable and consistent increases in value over the years, as well as buying precious metals,” said Professional Numismatists Guild President Barry Stuppler.

Four significant, historic vintage U.S. coins and three 19th century U.S. bank notes sold for $1 million or more each during the year in public auctions, and several other U.S. rare coins reportedly were purchased for $1 million or more in private transactions.

“There was continuing strong demand in the numismatic market on superb quality and rarity throughout the past year. In addition to high-grade vintage coins that set records, some modern coins that are the finest known, what we call ‘condition rarity,’ also commanded amazing prices,” explained Stuppler.

One of those examples is a 1987-dated Kennedy half dollar graded by Numismatic Guaranty Corporation as Mint State 68 (on a scale of 1 to 70) which sold for a record-smashing $4,800 in a Stack’s Bowers Galleries auction. A similar 1987 half dollar, graded by Professional Coin Grading Service also as MS 68, sold in 2014 for $3,290 by Heritage Auctions, an increase of over 45 percent in only four years. In circulated condition, 1987 Kennedy half dollars are simply worth face value, 50 cents each.

Among the most popular U.S. coins are Morgan silver dollars, struck from 1878 to 1904 and again in 1921, and named after their designer, George T. Morgan. An 1897-dated Morgan dollar struck at the New Orleans Mint and graded PCGS MS 66 was sold by Sotheby’s in 2018 for a record $262,500. The same coin sold in 2015 in a Legend Rare Coin Auctions sale for a then-record $108,688, an increase of over 140 percent in three years.

The U.S. coins that each sold at auction for $1 million or more in 2018 were:

· $4,560,000 by Stack’s Bowers for the finest example of one of the five known 1913 Liberty Head nickels, graded by PCGS as Proof 66, the highest price ever paid at auction for one of these legendary rare coins;

· $2,640,000 by Heritage Auctions for an original 1804 silver dollar, graded PCGS Proof 62;

· $2,160,000 by Heritage Auctions for the recently discovered fourth known 1854 San Francisco Mint Half Eagle ($5 denomination gold coin), graded NGC Extremely Fine 45;

· and $1,740,000 by Heritage Auctions for a 1792 Washington Eagle ($10 denomination gold coin), graded NGC Extremely Fine 45.

The auction firms that responded to a PNG year-end questionnaire are: Archives International Auctions; Ira & Larry Goldberg Auctioneers; GreatCollections Coin Auctions; Heritage Auctions; Kagin’s, Inc.; David Lawrence Rare Coins; Legend Rare Coin Auctions; Sotheby’s; and Stack’s Bowers Galleries.

The Professional Numismatists Guild was founded in 1955, and its member-dealers must adhere to a strict code of ethics in the buying and selling of numismatic merchandise.






Today's News

January 1, 2019

Bell Rock Lighthouse lights up Turner in January at National Galleries of Scotland

Vito Schnabel opens its first solo exhibition with New York-based artist Tom Sachs

Phoenix Art Museum announces major gift of contemporary Latin American artworks

Exhibition explores how jewelry acts upon and activates the body it adorns

Centre Pompidou presents 2019 France–Romania cycle

Record prices in 2018 U.S. rare coin market, reports Professional Numismatists Guild

British Library awarded £9.2 million for a major new project set to revolutionise research

Outsider Art Fair announces exhibitors for its 27th New York edition

Marc Straus announces the release of Jeanne Silverthorne's first limited-edition monograph

Exhibition links together Egon Schiele's drawings to tell the story of the artist's brief life

Feminist filmmakers tackle adult movie machismo

Exhibition of large-scale works on paper by David X. Levine opens at Zevitas Marcus

TEFAF New York Spring 2019 announces new exhibitors

Bonniers Konsthall presents an exhibition of works by Peter Liversidge

Jean-Luc Godard, Philippe Parreno and Charlotte Pryce headline Rotterdam Film Festival

The Asia Contemporary Art Show returns for its 14th edition next spring

Science-inspired art looks beyond the "seen" to appreciate the beauty and mystery of the "unseen"

1885 Trade Dollar kicks off Heritage's highly anticipated FUN offerings, Jan. 9-14

Not seen in 30 years: Rare $100 1878 Silver Certificate surfaces

Galerie Alexis Pentcheff to present a selection of postimpressionist and modern works at BRAFA

Members of the public asked to help find missing portrait which inspired the world's first gothic novel

Israelis mourn writer and peace advocate Amos Oz

See Venice, but pay an entry fee first

Most Popular Last Seven Days



1.- Holocaust 'masterpiece' causes uproar at Venice film festival

2.- To be unveiled at Sotheby's: One of the greatest collections of Orientalist paintings ever assembled

3.- Bender Gallery features paintings by up and coming Chicago artist Michael Hedges

4.- Lévy Gorvy exhibits new and historic works by French master in his centenary year

5.- Artificial Intelligence as good as Mahler? Austrian orchestra performs symphony with twist

6.- Fascinating new exhibition explores enduring artistic bond between Scotland and Italy

7.- Exhibition explores the process of Japanese-style woodblock production

8.- Robert Frank, photographer of America's underbelly, dead at 94

9.- The truth behind the legend of patriot Paul Revere revealed in a new exhibition at New-York Historical Society

10.- Hitler bust found in cellar of French Senate



Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 



Founder:
Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
produces:

ignaciovillarreal.org avemariasound.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful