Welcome to Coin Update!
We’re back with another round up of coin collecting news and articles from around the internet! Without any major U.S. coin releases, many recent stories deal with gold and silver prices or their impacts on coin prices. Today’s round up starts with precious metals commentary from Patrick Heller, two contrasting articles on the prospects for gold, Scotsman’s auction results, pattern coins, recent coin value price trends, young numismatists search nickel rolls, and notable auctions. On to the links…
Here’s Patrick Heller’s latest commentary on the gold and silver markets written for Coin Update.
The Wall Street Journal has an article that does not reflect very favorably on gold investment. It’s about how advisers have to talk their clients out of buying gold, like parents “slapping hands away from a cookie jar.”
For a completely different perspective, here is an article that describes gold as “still a long way from reaching its peak” and provides comparisons to other historical bubbles.
A story from Canada where a woman unsuspectingly spent a $100 gold coin for a cup of coffee. The article identifies it as a “14-ounce” gold coin minted in 1976, but I assume they mean “14-karat.”
Results from Scotman’s October 15 auction held in Saint Charles, MO, which was led by the sale of a 1794 Silver Dollar for $109,250.
The Legend Numismatics market report takes focus on pattern coins.
Coin Values Online observes that mint state Morgan Silver Dollars and Gold Double Eagles are trading at high volumes, but prices are up only minimally.
An interesting auction held in Bristol, Connecticut where silver nickels sold for 85 cents each and silver dimes sold for $1 each. (Melt values of these are $1.33 and $1.71 each, according to the latest data on Coinflation.)
As part of a young numismatist program, collectors in New Jersey have been going through five rolls of nickels each week to see what turns up. The oldest coin was a Jefferson Nickel dated 1938, no Buffalo Nickels have been found yet.
And now for some notable auctions. First, the First Spouse Gold Coins “Liberty subset” including the four coins in uncirculated version. These have lower mintages than their proof counterparts.
Next, an example of the 1937-D “3 Legs” Buffalo Nickel graded MS 63 in an older generation NGC holder.
Last, a lot of seven 2001 Buffalo Silver Dollars. These commemorative coins were issued for the opening of the National Museum of the American Indian at the Smithsonian Institution.
That’s it for this update. Have a great evening!
