Archive for November, 2010

Where’s the beef?

Posted on November 23, 2010 by No Comments

The beef these days is in Plus + grades.  Yes that’s right; while lots of people are asking how to value Plus graded coins others are out there making them and selling them for huge increases over regular grades. 

When PCGS introduced Plus grading last March most people thought it was a good idea.  We had been beseeched by collectors over the years to do something to recognize coins that were superior for the grade. Our Plus standards have been very strict and not many coins achieve this distinction. At first a lot of submitters who didn’t completely understand what it took to get a Plus were disappointed. You must remember that all aspects of a coin have to be superior to earn a Plus designation, it’s not just about eye-appeal. We projected that perhaps 10-15% of all the coins in a given grade might qualify for a Plus. This projection has proven to be very accurate. 

PCGS Plus graded coins are being snapped up wherever they are offered and sometimes at a significant premium to regular grades.  I talk to a lot of dealers and I’ve been made aware of many private transactions where a Plus graded coin has brought a large premium.  To be completely objective and eliminate any doubt it is best if we look at a few public auction transactions to report what PCGS Plus grades have brought in sales. 

The Bowers & Merena sale of November 2010 provides many examples of PCGS Plus graded coins selling. Here are just a few PCGS Plus coins from that sale: 

 

Coin

PCGS Grade

PCGS Price Guide

Auction Price Realized

1855 1/2¢

MS64+RD

$610

$2,530

1909 VDB 1¢

MS67+RD

$1,350

$4,485

1909-S VDB 1¢

MS66+RD

$17,500

$28,175

1918 1¢

MS66+RD

$2,000

$4,830

1913 T1 5¢

MS67+

$1,000

$2,128

1951-S 5¢

MS66+FS

$1,300

$2,703

1946 10¢

MS67+FB

$1,000

$3,105

1947 10¢

MS67+FB

$575

$3,565

1919-D 25¢

MS66+FH

$80,000

$109,250

1900 $1 Lafayette

MS64+

$2,850

$4,140

1952 50¢ Wash-Carver

MS66+

$350

$3,565

 

There are many other examples of PCGS Plus coins selling in this auction and in others.  While PCGS Plus grading has not been around very long it is quite apparent that significant value is already being placed on this designation. 

Where is the beef? Try looking at your PCGS Plus graded coins!

Filed Under: News

Teletrade Prices Realized – Now on PCGSCoinFacts.com

Posted on November 19, 2010 by 1 Comment

 The Auction Prices Realized information is a tremendous tool when buying or selling coins. Just a couple of years ago, collectors and dealers who bought coins would have to go to each individual major auction house to obtain the sales data for one coin. Well, this can be a lot of work, if you don’t know the date of the sale of the coin in question or the lot number, etc.

Therefore, in the past, most collectors or dealers would only go to one or two sites to research this information. Then a couple of years ago PCGS gathered as much information as possible from several of the major auction companies and listed all the information in one place.

Furthermore, starting on November 19, 2010 we will also be listing Teletrade Prices Realized to our database, as we feel that the sales they conduct are also a significant part of the coin market.

What this means is that both collectors and dealers will now have the ability to look up selling prices from all the major auction companies (approximately 35 different auction firms) and all the information will be available at their fingertips. The information is really important when deciding what to pay for a coin. I believe this will have a tremendous positive impact on the market, as more and more people will now know the going prices for most U.S. coins.

The Auction Price Realized information is one of my favorite features on PCGSCoinFacts.com and I think that if you buy several coins a year, this very neat tool alone will be very invaluable.

Filed Under: News

Should Fantasy 1964-D Peace Dollars have the word “COPY?”

Posted on November 9, 2010 by 20 Comments

On May 1965 the Denver Mint struck 316,076 – 1964-D Peace Dollars.

Several months later, the Coinage Act of 1965 was introduced. The Coinage Act would make it illegal to issue any Silver Dollars for circulation. Therefore, all 1964-D Peace Dollars had to be melted by law.

According to several Mint employees at the time, all 316,076 Genuine 1964-D Peace Dollars were melted. It was later confirmed that at least two examples were not melted, (even though Mint employees indicated that they were). Those two examples were then re-confirmed of being melted by Eva Adams, who was the Director of the U.S. Mint at the time.

There is speculation that additional Genuine 1964-D Peace Dollars also escaped the melting pot, as some employees were allowed to purchase the coins directly from the Mint. Additionally, there are rumors that Eva Adams sold a 1964-D Peace Dollar to a dealer at one time. In the past, Eva Adams is believed to have sold other coins not known to exist before, such as the 1964 Special Mint Set coins and others.

Recently, many 1964-D Peace Dollars were struck privately without the word “COPY” on them. If Genuine 1964-D Peace Dollars do exist, there is a possibility that Genuine examples might now be confused with the Fantasy 1964-D Peace Dollars that were privately struck just recently.

 Should the Fantasy 1964-D Peace Dollars have the word “COPY” on them? To answer, click on “COMMENTS” above this post.

$1 1964 Small

Filed Under: News