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NumisMedia Weekly Market Report
Gold Advance Benefits Long Beach Expo
February 24, 2020
The dramatic rise in metals, especially Gold, made for a hectic Long Beach Expo, but dealers were glad to handle all the extra business and profits. As long as dealers hedged their sales, they did well; if not, then they lost the $35 an ounce that Gold is up this morning. Hedging is simply replacing sold metals at a slightly lower price in order to maintain an inventory balance and protect dealer inventory against aggressive upward or downward movements. On the other hand, the buyers who took advantage of sales last week should be very satisfied with their purchases this morning. And, the outlook for higher metals remains positive.
Heritage Auctions hosted the Long Beach Expo sale and rare U.S. Gold was the main theme. The extremely rare 1875 $10 Gold in PCGS AU50 was the most sought after in the sale with as many as 46 bidders after this coin. The final sale price was $360,000; this same coin sold two years ago for slightly more at $372,000. Taking into account that the overall coin market is down considerably since then, several dealers thought this represented a very strong price. This date had an original mintage of just 100 coins and there are only a total of 17 coins certified by PCGS and NGC combined in all grades. The highest grade certified is AU55. This is arguably a top 25 rarity in U.S. numismatics.
1875 $10 Gold PCGS AU50 sold for $360,000 at the Heritage Auctions Long Beach Expo U.S. Coins Signature Sale in Long Beach, California, February 20-23, 2020
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The Saint Gaudens series was well represented with a 1920 S in PCGS MS64 CAC as one of the top sellers. This date had an original mintage of over 500,000 coins, but studies indicate that fewer than 200 coins were actually distributed into circulation or into the hands of potential collectors. This coin brought $156,000 with just 19 certified in MS64 and only 3 with the CAC approval. There are another 8 coins certified higher with MS66 being the highest. Below are some of the other highlights from Heritage's Long Beach Sale.
1920 S $20 Saint Gaudens PCGS MS64 CAC sold for $156,000 at the Heritage Auctions Long Beach Expo U.S. Coins Signature Sale in Long Beach, California, February 20-23, 2020
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| Date/Denomination | Grade | Price Realized |
| 1793 Large Cent Chain AMERICA | PCGS F12 | $14,400 |
| 1840 Large Cent Large Date | PCGS MS65 RD | $26,400 |
| 1861 Copper Nickel Indian Cent | NGC MS68 | $30,000 |
| 1919 D Lincoln Cent | PCGS MS66+ RD CAC | $13,800 |
| 1918/7 D Buffalo Nickel | NGC MS62 | $33,600 |
| 1926 S Buffalo Nickel | PCGS MS64 | $18,600 |
| 1901 S Barber Dime | PCGS MS67 CAC | $13,200 |
| 1831 Capped Bust Quarter | NGC PR65 CAMEO | $48,000 |
| 1916 Standing Liberty Quarter | PCGS MS65 FH | $30,600 |
| 1918/7 S Standing Liberty Quarter | PCGS MS63 | $21,600 |
| 1797 Draped Bust Half Dollar | PCGS VG8 | $24,000 |
| 1807 Draped Bust Half Dollar | PCGS MS64 | $31,200 |
| 1795 Flowing Hair Dollar Two Leaves | PCGS MS62 | $75,000 |
| 1892 S Morgan Dollar | PCGS MS63 | $55,200 |
| 1893 S Morgan Dollar | NGC MS62 | $150,000 |
| 1911 $2 ½ Gold Indian | PCGS PR67 | $49,213 |
| 1795 $5 Gold Small Eagle | NGC AU58 CAC | $63,000 |
| 1908 $5 Gold Indian | PCGS PR66 CAC | $84,000 |
| 1797 $10 Gold Small Eagle | PCGS AU55 | $102,000 |
| 1839/8 $10 Gold Large Letters | PCGS MS63 CAC | $114,000 |
| 1848 $10 Gold | PCGS MS64 CAC | $66,000 |
| 1851 O $10 Gold | PCGS MS64 CAC | $84,000 |
| 1864 S $10 Gold | PCGS XF45 | $126,000 |
| 1870 CC $10 Gold | PCGS XF45 | $87,000 |
| 1873 CC $10 Gold | PCGS AU53 | $78,000 |
| 1877 CC $10 Gold | PCGS AU55 | $72,000 |
| 1879 O $10 Gold | PCGS AU58 CAC | $66,000 |
| 1883 O $10 Gold | PCGS AU50 CAC | $90,000 |
| 1861 O $20 Gold | PCGS AU58 | $78,000 |
| 1908 $20 Gold St. Gaudens w/Motto | PCGS PR66+ CAC | $180,000 |
| 1931 $20 Gold St. Gaudens | PCGS MS66 | $120,000 |
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Next up on the coin show tour is the ANA National Money Show this week in Atlanta, Georgia. Many of the dealers from the East Coast, especially the dealers that did not come to Long Beach, will have the opportunity to attend a major show without the excess travel. Dealers are confident that the metals will remain strong this week as activity continues on the upswing. Kagin's Auctions will host the sale at the ANA venue with highlights to be reported next week.
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NumisMedia Weekly
Dealer Price Guides
Weekly and Online Wholesale Prices
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