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Next year, in 2026, the United States Mint will issue a series of coins and medals to celebrate the Semiquincentennial of the United States. The original plan was for the U.S. Mint to replace all circulation coin designs for one year. That has been a moving target though, and some may just have a privy mark designating the event. Last year, representatives from the Mint visited the Smithsonian’s National Numismatic Collection looking for inspiration for re-issuing some popular [...]

It has been widely reported in the last couple of weeks that the price for gold bullion has now exceeded $3,000 per ounce. The price seems to be stable, with little signs of coming back down anytime soon. There has certainly been a flight to safety as the stock market and other assets have slipped considerably in the last 30 days. Global markets hate uncertainty, and gold has been the preferred hedge against [...]

Press release from Whitman Brands Whitman BrandsTM announces distributor shipments of the all-new, completely reimagined 2026 Red Book have left the Alabama distribution center. All print formats, including Kindle e-book, will be available in all major retail outlets starting April 8, 2025. A limited number of copies will be available for sale at the upcoming Whitman ExposTM Spring Show, March 27-29, 2025, in Baltimore, Maryland. Additionally, Jeff Garrett and John Feigenbaum, Red Book editors and [...]

The stock market’s sudden plunge in the last few days has certainly brought into focus the issue of risk management for anyone with a significant portfolio of equities. For quite some time, the stock market only seemed to head in one direction, and the all-in strategy seemed like the best option. Since last week, the stock market has given back most of the gains accrued since the election, with many [...]

The Whitman Publishing group was sold about two years ago to Coin Dealer Newsletter (CDN) Publishing. This included the iconic numismatic reference A Guide Book of United States Coins–the Red Book. The Red Book is usually within arm’s reach of most collectors and dealers. I’m proud of the fact that both advanced collectors and those new to the hobby find the book useful. I have been involved with the Red Book for more than 20 [...]

As mentioned in my last article, there were several new developments that unfolded at this year’s Florida United Numismatists (FUN) convention. There was a sudden and unexpected demand for “collector” coins in the $50 to $1,000 range. One of our first wholesale clients purchased more than $100,000 worth of United States coins in that price range. Normally, our first sales concentrate on fresh coins in the $5,000-and-up price points. This year, lower-priced coins [...]

As mentioned in a previous article, there were several new developments that unfolded at this year’s Florida United Numismatists (FUN) convention. There was a sudden and unexpected demand for “collector” coins in the $50 to $1,000 range. One of our first wholesale clients purchased more than $100,000 worth of United States coins in that price range. Normally, our first sales are more concentrated on fresh coins in the $5,000-and-up price points. This year, the [...]

A privy mark is a small, distinguishing symbol or mark added to coins during the minting process, typically used to commemorate a special event or to add a layer of security. The use of privy marks has a long history that dates back to at least the 14th century. Early uses of privy marks include distinguishing coins made at different times and identifying different moneyers. The added symbols were also [...]

For more than 50 years, I have been attending the annual Florida United Numismatists (FUN) Convention. In the 1970s, when I first started going to the show, it was held in my hometown of Clearwater at the old Fort Harrison Hotel downtown. My earliest memories of hustling rare coins took place there. The show later relocated to its semi-permanent home in Orlando. It has moved around the state a few times because of conflicts at the Orlando [...]

For much of the last 50 years of my career, the rare coin market has been dominated by investors. Starting about 1979, when rare coins soared because of record gold and silver prices, the market for numismatics was dominated by investors. In the 1979-80 market boom, many of the biggest investors for rare coins were coin dealers. They were plowing their bullion profits into rare coins with abandon. In 1980, [...]

Mint errors are one of the most complicated segments of the rare coin market. We receive dozens of calls and emails each month from individuals inquiring about the value of a mint error. Many are just damaged coins that people somehow think are error coins. Most mint errors or misstruck coins are one of a kind, there are endless variations and value will vary from coin to coin. Despite the [...]

By almost anyone’s measure, the world has changed a lot in the last few weeks. The United States presidential election was anxiously anticipated for months by people on both sides of the political spectrum. Democrats and Republicans were equally optimistic about their chances of winning. Many Democrats could not picture a world with Donald Trump serving another term and most Republicans viewed a Kamala Harris victory as a disaster waiting to happen. The battle lines had [...]

Despite this being the sixth edition of my popular book, 100 Greatest U.S. Coins, I could not wait to open the box when they arrived this week. The new books have been redesigned, with a much more modern look. Whitman Publishing was sold last year to CDN Publishing, and the new management has been doing a great job creating new products and greatly enhancing titles in the portfolio. We have been working hard recently [...]

The 1909-S V.D.B. Lincoln Cent is certainly not one of the rarest U.S. coins, but it is one of the most famous. The elusive cent is listed in my book 100 Greatest U.S. Coins (6th Ed., 2024), and it is probably one of the most affordable coins in the book. The Guide Book of United States Coins (the Red Book) defines the phrase “key coin” as “one of the scarcer or more valuable coins in a series.” [...]

One of the oldest pieces of advice given to anyone new to the hobby is “buy the best that you can afford.” This old adage is often shared along with “buy the book before the coin.” These days, buying a numismatic book is still great advice, but there is also an avalanche of data online. Collectors and dealers now have information that previously took years to learn at their fingertips. [...]

Each year, my family tries to travel abroad to escape from our normal routine and spend some quality time together. I also feel it is important for my family to experience other cultures. Generally, the trips are intended for me to get away from the coin business and enjoy time with the family. Years ago, a trip abroad provided a true escape, as no one could contact you unless it [...]

One of the highlights of the recently completed 2024 ANA World’s Fair of Money was the exhibit of the Egyptian portion of the Tyrant Collection. The collection is billed as the world’s most valuable private coin collection, and for anyone who has seen this magnificent assemblage, it would be hard to dispute. The ANA show exhibit focused on Egyptian coinage starting with coins from antiquity and continuing chronologically through the Islamic period. The [...]

My company has recently been working on the sale of a magnificent collection of Proof United States gold coins, including several of which rarely come to market. The chance to handle even a single Proof U.S. gold coin is special for most collectors and dealers. No other segment of the U.S. market offers a better combination of rarity and beauty. A Gem Proof United States gold coin is truly spectacular. It is [...]

For decades, inflation in the United States has been a key focus for anyone who considers precious metals for investment. The spike of inflation in the 1970s (peaking at about 13%) precipitated by the oil embargo created the first rush to precious metals as a hedge. Silver and gold rose sharply in the late 1970s and early ’80s. When the recession of 1982 hit, metal prices plunged. In the middle of all of [...]

My morning ritual includes a cup of coffee and an attempt to answer the many emails received overnight. This can be exciting, as you never know what someone will be sending an inquiry about. My handling of the “Great Kentucky Hoard” of Civil War gold started with a brief email and a blurry picture. But unfortunately, the vast majority of emails are about coins with little value. There is so [...]

The summer months are traditionally the slowest for the rare coin business. The few major shows going on — such as the Long Beach and Baltimore Whitman expos — are the lightest-attended in their per-year rotations. The June shows this year were no exception. Business was done, but many major dealers were absent because of vacations or other summer obligations. The summer months are also traditionally slower for mass-market retail operations. The recent near-collapse [...]

On July 4, 1826, there were parades, fireworks and speeches around the country to celebrate the 50th birthday of the United States. In Philadelphia, there had been invitations sent to the original signers of the Declaration of Independence to attend, but none were able. In fact, in one of the strangest coincidences in U.S. history, Founding Fathers Thomas Jefferson and John Adams both passed away on July 4, 1826. The numismatic production for the 50th anniversary was minimal, [...]

As gold prices surged to record levels in the last month or so, the value of “generic” United States gold coins has fallen to historic lows in relation to spot gold prices. Gold recently topped $2,400 per ounce for a few days. Generic gold coins are defined as common-date U.S. gold coins that can be found in quantity. Most commonly seen are double eagles from the late 1880s to 1928. The category also includes other denominations: gold [...]

United States Large Cents were first produced in 1793 and continued nearly uninterrupted until 1857. The lone exception was 1815, when the United States Mint experienced a shortage of metal. By the late 1850s, the price of copper made the coins expensive to produce and the large size contributed to their unpopularity. The coins were also not legal tender and merchants were not forced to accept them. By the late 1840s, the Mint [...]

The internet has vastly expanded the reach and scope of the rare coin business. You can now buy and sell coins with companies and individuals around the globe. With a few clicks, you can find coins you have been looking for and add them to your shopping basket. For those wanting to sell coins, you can offer your coins on multiple sites and get offers from dealers around the country. [...]

About two weeks ago, the numismatic world was stunned to hear the announcement of the sale of Whitman Publishing to CDN (Coin Dealer Newsletter, publisher of the Greysheet). Whitman has been serving the numismatic community since 1932, and its history closely mirrors the evolution of the hobby through the decades. A huge number of serious collectors started out by filling a Whitman album in their youth. My own numismatic journey started in 1969, with a [...]

In the last few weeks, gold has finally started to move in a positive direction as it briefly topped $2,000 USD for the first time in months. Tensions over global conflicts have once again made gold look attractive as a safety play. Almost daily we have clients calling and asking about how to buy gold to protect their assets. It will only take one headline crisis for gold to move [...]

Much attention in numismatics is focused on quality. One of the most common pieces of wisdom dispensed by experienced numismatists is to buy the best you can afford. The purpose of this article is to highlight the fact that the pursuit of quality is not limited to the top end of the Sheldon scale. Now more than ever, collectors are demanding attractive examples of coins at all ranges of the grading [...]

The rare coin business produces billions of dollars in revenue each year. In fact, a few companies can boast of billion-dollar-plus revenues individually. With this much money floating around, we are all targets of theft. This includes dealers, investors, and collectors. In the past year or two, there have been several high-value thefts at coin shows. Not a day goes by that we are not made aware of a missing [...]

Shortly after finding out that I am a rare coin dealer, new acquaintances will often begin to ask about coin collecting. One of the first questions many people ask is: What are the most expensive coins? Most are astounded when told that a gold coin made during colonial times by Ephraim Brasher sold for nearly $10 million about a year ago. The 1787 Brasher Doubloon graded NGC MS 65 shattered all expectations. They usually then ask [...]

During the day, my office television is usually set on CNBC for the latest financial headlines. For nearly a year now, the news channel has been hyper-focused on the Federal Reserve and interest rates. The talking heads obsess over every utterance by Chairman Jerome Powell and the effects on the markets and U.S. economy each time rates have increased. Interest rates have skyrocketed at the fastest pace in recent history. Money that was nearly free now [...]

When I wrote an article recently about collecting coins by die variety, Capped Bust Half Dollars were one of the series mentioned. The series, which was produced from 1807 to 1836, is rich with interesting die varieties for specialists. Since United Stated silver dollars were not produced during this period, half dollars were the workhorse coinage of the day. Most years were struck in copious quantities and are generally available in lower grades for [...]

One of the most amazing developments in numismatics recently has been the explosion of sharp young people entering the business. There are at least 50 to 100 new faces seen regularly at coin shows and other events. Many of these young people are already a competitive force at these shows, buying and selling tens of thousands of dollars’ worth of rare coins. For those concerned about the future of the [...]

This month’s 2023 ANA convention marks the 20th anniversary of the rediscovery of the missing Walton 1913 Liberty nickel. I was asked to be part of the team that authenticated the coin for the Walton heirs who had come forward with the coin. Ten years later, in 2013, my company purchased the coin at auction. My purchase of the 1913 Liberty nickel was one of the most exciting experiences of my [...]

One of the most highly anticipated numismatic books of the year is the just-released Cherrypickers’ Guide to Rare Die Varieties of United States Coins, Sixth Edition, Volume II. The book was released on Monday, August 1, 2023. I am sure Whitman Publishing will have copies available for sale at the Pittsburgh ANA World’s Fair of Money. The book is very complex and has been in the works for quite some time. Congratulations to Editor Larry [...]

In the next few weeks, everyone in my company will be making plans for the upcoming World’s Fair of Money that will take place in Pittsburgh, Pennsylvania from August 8-12, 2023. The show is put on by the American Numismatic Association (ANA), with the organization holding the annual convention since the early part of the last century. The ANA World’s Fair of Money is by far the most important rare coin convention held each year in [...]

One common theme of the many subjects we have discussed over the last several years has been deciding what to collect. This seemingly simple task can actually be difficult for many new collectors. Most are drawn to coins they might be familiar with from an earlier encounter with the hobby (for example, a lot of people collected Lincoln cents in Whitman folders when they were young). When later rediscovering the hobby of numismatics, they [...]

Choosing which coin series to collect is one of the first challenges facing those new to the hobby. There are dozens to choose from, and if you include world and ancient coins, the options become nearly endless. Untold numbers of new collectors have started over the years by filling coin boards and albums. Perhaps one of these started you on your numismatic journey. Mine began with a simple Whitman folder of Lincoln Cents from 1941 to date. [...]

Recruiting and training young people in the rare coin business has been a focus within numismatics in recent history. Hobby leaders recognize the need to replenish the aging ranks. Many of the most important coin dealers in the country started in the 1970s and are now entering their golden years. Sadly, we have also lost several recently. Many nonprofit organizations, coin companies, and grading companies have started intern programs tailored [...]

The United States Mint strikes more than 10 billion circulating coins each year. By any measure, that’s a lot of coins, and most of them are not going to be worth much anytime soon. The staggering mintages for these circulating issues far exceed any collector demand. On the other hand, many coins that the U.S. Mint produces for collectors are made in far fewer numbers. Some of the First Spouse $10 gold bullion [...]

Based on many conversations and observations in the last several months, the premise of the title for this article would be debatable at best. A few coin shows have stumbled recently, and social media is rife with grumbling from dealers who are shunning such events. The problems these shows are having are complex, but there are plenty of reasons to remain optimistic about the future of coin shows in general. [...]

Collecting United States coins by die variety has its origins in early copper coinage. Some of the first specialty books for U.S. coins were for Colonial coinage and Large Cents. Generations of collectors have been searching for rare varieties of these early copper coins. Over time, collectors turned their attention to other series of early U.S. coinage, including the extremely popular Bust Half Dollars produced from 1794 to 1836. My library has dozens of specialty books and [...]

One of the greatest innovations in the history of the hobby was the introduction of coin boards in the 1930s. Coin collecting was a fad during the Great Depression for those seeking a distraction from the world’s maladies. The process of filling holes in a coin board was addictive and still is. Coin boards eventually became coin albums, and millions of collectors were introduced to the hobby this way, including myself. In 1969, a family [...]

Hardly a day goes by that a collector or dealer does not call me to consult on the value of a rare or unusual numismatic item. One of the skills most frequently utilized by professional coin dealers is the ability to accurately value coins when buying or selling. This must be done with precision, as there can sometimes be hundreds or thousands of dollars involved. Like myself, most coin dealers [...]

The rare coin market was profoundly changed about 25 years ago when the internet started to become a tool for business instead of something for computer hobbyists. Forward-thinking dealers began to build websites and find ways to capitalize on this new technology. Collector access exploded and the demand for rare coins has been rising each year ever since. As technology improves, rare coin companies are able to leverage these advances [...]

In recent years, the demand for rare coins at the top end of the marketplace has soared. Multi-million-dollar hammer prices have become commonplace. The most recent collecting trend that continues to amaze me has been the emergence of mega-rich collectors battling for the finest and rarest. There are at least four to six billionaires actively collecting coins, each of which has invested at least $200 million in their collection. The [...]

Numismatic publications are full of headlines about seemingly low-value coins bringing amazing sums in ultra-condition. I have personally observed lines of people at rare coin conventions submitting handfuls of coins that are not worth the cost of the submission. How are collectors to understand that their Franklin half dollar is not worth $100,000 if they have the coin certified? For many, submitting rare coins for grading can be daunting, especially for the [...]

Several years ago, while attending the Whitman Baltimore Convention, I had the pleasure of spending some time talking to numismatic legend Harvey Stack. When Harvey passed away early this year, we all lost an important link to numismatic history. Thankfully, Harvey had produced a long series of articles for CoinWeek discussing the history of the Stack’s Bowers auction house. During our chat, Harvey told me some of his stories about dealing with the great collector, Josiah K. [...]

The Gobrecht silver dollar is a complicated yet fascinating series. At first glance, many would think that the Gobrecht silver dollar series would be rather simple to understand. The coins are dated 1836, 1838, and 1839. How hard could that be? It is, however, one of the most complicated and least understood of all United States coinage issues. Even the most basic reason for the coin’s existence is questioned by many experts. [...]

The recently completed Stack’s Bowers sales featuring the first and last American Silver and Gold Eagles saw record prices for pedigreed modern coins sold at auction, stunning most observers. Touted as the Dusk to Dawn Anniversary issues, the coins were the last 500 Type 1 and first 500 Type 2 pieces, struck in the presence of then-Mint Director David Ryder and other Mint officials. The obverse design for the gold issues was an adaptation of the Augustus Saint-Gaudens Double Eagle from 1907. The Type [...]

Establishing the value of a rare coin is one of the basic requirements for being a professional coin dealer. Most use the usual price guides, such as the Greysheet or the Red Book, auction records, grading service price guides, population reports, and many other pricing tools. In most cases, one or a combination of these tools provides enough information to make an accurate decision. Usually, a dealer or collector is trying to determine [...]

Among the most short-lived series of United States coins are the Twenty Cent pieces struck from 1875 to 1878. Although the coins were made for a very short time, the series contains several interesting and, in some cases, very rare issues. Collectors usually seek examples of this series for Type collections and, surprisingly, few attempt to assemble a complete set. Usually, serious aficionados collect Twenty Cent pieces by date and mintmark of this Liberty Seated series. [...]

This afternoon, I saw another slip in the prices for gold and silver. At the time of writing, the spot price of gold stands at $1,710, and the price of silver just slipped below $18 for the first time in three years or more. These downward moves are remarkable in light of the current inflation rates reported by the US government. After years of very modest inflation, the reported rate [...]

Each year about this time (leading up to the ANA World’s Fair of Money), Heritage Auctions and Stack’s Bowers Galleries send their catalogs for their summer auctions. This year’s editions feature over 20 separate catalogs covering ancient and world coins, colonial coinage, early copper coins, regular issue US coins, paper money, tokens, and medals. Several major specialty collections are being sold, with hundreds of six-figure-plus coins as well as a few multi-million-dollar coins offered. The [...]

One of the more interesting kinds of coin made by the United States Mint over the last 200-plus years are those that can be called “transitional issues.” These coins straddle both an old design and the new one replacing it, often the result of some historical or technological development. The 1836 Reeded Edge Half Dollar touches on both. It is also quite rare and sought after. Although Christian Gobrecht is best known for his Liberty Seated design (introduced [...]

In Part I, I began a date-by-date analysis of the very popular Indian Head Half Eagle series. This week, we conclude the series by examining those coins struck from 1911 to 1929. There are some real “killers” in this series, but it is a doable project for ambitious collectors – especially in grades below Mint State. There are no million-dollar showstoppers that would make collecting Indian Head Half Eagles impossible. I believe [...]

Recently, I discussed the very popular Indian Quarter Eagle series. The Indian Quarter Eagle set consists of just 15 coins and can be completed with moderate effort and modest funds. This week, I will start with a date-by-date analysis of the Indian Half Eagle series. The set has the same date range (1908-1929), but the coins were struck more often at the branch mints. This creates a wonderful and challenging series. There are several [...]

During a recent visit to the vaults of the Smithsonian National Numismatic Collection (NNC), I ran across some amazing numismatic paraphernalia. One of the metal cabinets contains several shelves from the estate of Charles Barber, the Chief Engraver of the United States Mint from 1879 until his death in 1917. One drawer is nearly full of his engraving tools — the ones probably used to produce his classic series of coins now known as Barber [...]

Whenever someone sits down with a financial consultant to make determinations for investing, one of the first questions that might be asked is: “What is your tolerance for risk?” This question is crucial for several reasons and can be applied to your numismatic purchases. The fact is, most people are very conservative when it comes to investing. The financial consultant will gauge your ability to handle risk and make investment [...]

After a nearly three-year hiatus, the ANA Summer Seminar returns to Colorado Springs this year. Strict COVID-19 restrictions at Colorado College forced the cancellation of the iconic numismatic education event for 2020 and 2021. Summer Seminar is one of the best programs the American Numismatic Association conducts. Each year, over half of those in attendance are repeat students. Many of the instructors have been teaching for decades. The ANA is very grateful to the individuals and companies who [...]

As nearly everyone who buys rare coins these days knows, a large percentage of the buying and selling happens at auctions. This market has exploded in recent years. Twenty-five years ago, the total dollar amount of rare coins sold at auction in the United States was probably less than $25 million. More recently, that number is closer to $625 million or more – not including the thousands of coins sold each day [...]

Collecting a complete set of any series of United States gold coins is a formidable task. Very few accept the challenge, as most series contain several “stoppers” that make completion almost impossible. Consider Saint-Gaudens Double Eagles as an example. The series starts with the 1907 High Relief and ends with the most expensive coin in the world, the 1933 Double Eagle. Most other series of United States gold coins are similarly difficult to complete. The Indian Quarter Eagle set [...]

When I wrote an article recently about collecting coins by die variety, Capped Bust Half Dollars were one of the series mentioned. The series, which was produced from 1807 to 1836, is rich with interesting die varieties for specialists. Since United Stated silver dollars were not produced during this period, half dollars were the workhorse coinage of the day. Most years were struck in copious quantities and are generally available in lower grades for [...]

I began my career in numismatics in the mid-1970s. At the time, precious metal prices played a relatively small role in the market for rare coins. Gold sold for around $150 to $200 per ounce, and silver hovered in the $4 to $6 per ounce range. The rare coin market was a quiet cottage industry. The most accurate and widely used price guide was the Red Book (A Guide Book of United [...]

In the past couple of years, there have been numerous amazingly great collections sold at auction. According to the Professional Numismatists Guild (PNG), over $550 million in rare coins crossed the auction block in 2021. An amazing 22 US coins sold for over $1 million each. These mega sales sometimes create unique, once-in-a-lifetime opportunities for serious collectors. Many of the coins sold in these sales become available only when great collections [...]

About two weeks ago, Heritage Auctions sold an unopened example of a John Madden Football Electronic Arts video game for $480,000 – a stunning price for a video game that was produced by the millions. I’m pretty sure my son had a copy at one time. But his, like 99.999% of the others, was opened immediately and saw extensive use. Plus, the game was discarded when the next edition came out. My knowledge of [...]

For the past few weeks, I have been diligently working on the pricing for next year’s Guide Book of United States Coins (the Red Book). The task was enormous this year, as nearly every price in the book needed to be increased, some substantially. For example, prices of Morgan Dollars increased by higher percentages than for any edition I have worked on over the years. It’s probably no news to anyone reading this, but the [...]

Shortly after finding out that I am a rare coin dealer, new acquaintances will often begin to ask about coin collecting. One of the first questions many people ask is: What are the most expensive coins? Most are astounded when told that a gold coin made during colonial times by Ephraim Brasher sold for nearly $10 million about a year ago. The 1787 Brasher Doubloon graded NGC MS 65 shattered all expectations. They usually then ask [...]

In recent years, the world of rare coin price guides has changed dramatically. When I began my career as a rare coin dealer in the 1970s, the Guide Book of United States Coins (the “Red Book”) was the primary source of rare coin prices. The annual book would usually come out in early summer, and for a few months before publication, rare coin dealers would wait eagerly to price their coins. Most [...]

The last two years have been challenging in so many ways for everyone worldwide. The COVID-19 pandemic has changed the way we all conduct our lives. Substantial parts of the workforce are still working from home and companies in all economic segments are re-inventing how they do business. At the center of this global change is the internet. It is safe to say that nothing has ever impacted numismatics in [...]

Last week, I experienced one of the most amazing events of my 45-year numismatic career. While I have often said that every day in my profession is like the Antiques Roadshow, seldom does something come out of left field that is totally unexpected. But what happened on December 6, 2019, blew me away. It started with a brief email a couple weeks ago from Doug Davis, the director of the Numismatic Crime Information [...]

While this article shares a title with the classic Paul Newman and Tom Cruise movie about pool hustlers, it refers to the incredible valuation increases that collectors attribute to the colors assigned to copper coinage. 1853 Braided Hair Cent graded NGC MS 65 RB from NGC Coin Explorer. Image: NGC. Take for instance a few of the following examples from actual auction sales: 1853 Large Cent NGC MS 65 BN (Brown) sold for $630 [...]

Rare coin certification is nearing 35 years of success. One of the foundations of this success is the authentication and grading guarantee. No longer do collectors and investors have to take the word of dealers. Certified rare coins are graded by multiple people and finalized by world-class experts to ensure accuracy and consistency. The system works! It is hard to imagine where the rare coin market would be today without [...]

We have all read the headlines about the astounding sales performance of mega coins in the last few months. Every major auction seems to have more than a few six- and seven-figure coins that sell for a record price. Coins at the top end of the market are clearly in demand, but the reality, of course, is that very few collectors can ever hope to purchase coins in this price [...]

When I started collecting rare coins about 45 years ago, there was only modest interest in later-date 20th-century coins. Anyone who has collected Jefferson nickels, Mercury dimes, Roosevelt dimes, and Franklin half dollars probably did so by filling out a blue Whitman folder. Collectors of Standing Liberty quarters were considered a bit more sophisticated, but not by much. At some point in the 1980s, coin collectors started to pay much more attention to these series and began to [...]

In my last article, I discussed strategies to be a successful consignor in rare coin auctions. Auctions have become a much larger share in the rare coin market in recent years, but they are not the only way to sell coins. For generations, rare coin dealers from the United States and around the world have bought and sold an untold number of coins. There are several reasons many choose this route as [...]

During last month’s ANA sales, Heritage and Stack’s Bowers auctioned about $100 million worth of numismatic material. Several NGC-graded coins sold for over a million each, including the 1921 Double Eagle graded NGC PF 64+, which realized a little over $2 million USD. The staggering total included several world-class collections that have been carefully assembled over many years. Selling your rare coins at auction is an easy decision if you have a collection that has been formed over [...]

By now, anyone who stays connected with the hobby, through social media or online chat rooms, knows that the recently completed ANA World’s Fair of Money (WFM) was a roaring success. The nearly 7,500 attendees were there to do business, and I have heard at least a dozen longtime dealers state that the 2021 WFM was their best show ever. One interesting aspect of the 2021 WFM was the lack of official [...]

Oberth is the creator of RoundTable Trading and Coin Dealers Helping Coin Dealers For those who are not aware, about five years ago, Rob Oberth, a Marietta, Georgia rare coin dealer, had the foresight to understand the amazing potential of social media and numismatics. Initially, he started the Facebook group Coin Dealers Helping Coin Dealers (CDHCD) to unite veterans of the hobby with the next generation of numismatic professionals. Since then, his brainchild has blossomed into one of [...]

There is no doubt that the rare coin and bullion market in the United States has evolved considerably in recent decades. Thirty years ago, when I operated an auction company, my mailing list consisted of about 5,000 names. Of those customers, around 1,000 would participate in a given sale. My last FUN auction in the 1980s realized less than $5 million. Heritage Auctions reported over $300 million in sales for just the first quarter of [...]

Contrary to popular belief, the first significant discovery of gold in the United States was not in California in 1848 but in the lower Piedmont area of North Carolina in 1799. Conrad Reed, the son of a local farmer, found a 17-pound, yellow-colored rock that later turned out to be gold — after it served a three-year stint as a doorstop! By the early 1830s, the Bechtler family had established a private mint at Rutherford, North Carolina. Sufficient gold was [...]

This year marks the 100th anniversary of the end of Morgan Silver Dollars and the beginning of Peace Silver Dollars. The year 1921 was momentous for the numismatic world, and 2021 is becoming an important year for the hobby as the United States Mint launches its “tribute” series of Morgan and Peace Silver Dollars to mark the occasion. The first offerings in May were an instant sellout and created a [...]

The 1933 Double Eagle that realized $18,900,000 USD in a Sotheby’s sale earlier this month was stunning news for the numismatic community. The final hammer price shattered the previous record for a coin by nearly double. The new price summit for a rare coin finally approaches that of fine art. It should be remembered that in the same room in which the 1933 Double Eagle sold, paintings have been bought for over $300 million. Sotheby’s orchestrated a masterful promotion [...]

Over the years, I have been asked dozens of times what coins a new collector should consider buying. Often, it is a bullion buyer who has discovered numismatics and is ready to get started. My advice is usually tailored to the individual’s collecting budget. I also suggest several numismatic books to pique their interest and to educate them about the unique history and the beauty rare coins offer. My coffee [...]

In the eyes of the collector, coins with eye appeal and quality are today’s trend   By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… The rare coin market evolves over time and many series go out of fashion. In the 1960s, BU Rolls and Proof Sets were all the rage. In the 1980s, generic gold coins dominated the interests of many collectors and dealers. Rarity seems to increasingly be the focus from the [...]

The numismatic press has been gleefully announcing the sale of multi-million coins on a regular basis in recent months. I’m sure the Heritage sale this week will also garner headlines as a few major collections make their way to the auction block. The sale of the 1787 ‘EB’ on Wing Brasher Doubloon graded NGC MS 65★ for over $9 million was a stunning reminder that billionaires have discovered our hobby. The upcoming sale of [...]

This year marks the 100th anniversary of the last Morgan Silver Dollar and the first Peace Silver Dollar. The 1921 Morgan and Peace Dollars are also front and center this year as the United States Mint has announced 2021 examples of both issues to commemorate the centennial. The Mint will strike a minimum of six different coins in Philadelphia, Denver, and San Francisco. Various finishes and privy marks have been discussed, but exact details have not yet been [...]

For several years now, I have joked that people know so little about Bitcoin that they ask my thoughts on it because I’m a coin dealer. In general, most individuals that I speak with consider Bitcoin to be a speculative bubble waiting to pop. The recent rise of Non-Fungible Tokens (NFT) is making peoples’ heads spin, but the future of NFTs is up in the air until the tokens become [...]

When asked to write an article about 10 coins I would love to own, my thoughts immediately turned to my popular book 100 Greatest U.S. Coins. Most of the coins in that book have great stories, and that is what draws me to coins I would love to own. The subject of great coins is quite newsworthy at the moment, with trophy coins bringing record prices at auction. The recent sale [...]

For decades, the hobby of numismatics has provided me with more benefits than anyone could ever hope for, from years of enjoyment to a pretty good living. Since assembling my first Lincoln cent album in the 1960s, my enthusiasm has never waned. Many of my non-numismatic friends envy that I look forward to going to work every day. I sincerely hope that the hobby remains relevant so that future generations can enjoy [...]

The financial markets have been abuzz the last few days because of the market disruption caused by the skyrocketing stock price of GameStop and AMC Theaters. These stocks have soared in value based on the influence of social media, which is encouraging speculation, and the desire of small investors to crush the professional short-sellers. The pandemic created a small army of traders sitting at home plowing money into the stock market, and many [...]

For the first 20 or so years that NGC graded coins, any pieces submitted that were deemed unacceptable for certification were returned in a plastic sleeve. These became affectionately known as “body bags”. As the term indicates, receiving these was quite an unwelcome result after having paid a submission fee. Many submitters simply did not understand what may cause a coin to be ineligible for grading. Sometimes even the savviest dealer would [...]

Who is the fairest of them all? A strong argument can be made for a Prooflike Morgan Silver Dollar. There are few numismatic delicacies as aesthetically appealing as a deeply Prooflike silver dollar. These coins are simply stunning. Anyone who collects Morgan Silver Dollars is familiar with these interesting coins. Even though most dates of Morgan Silver Dollars are known with Prooflike surfaces, collectors tend to treat them as a [...]

Last week, Heritage Auctions offered the Maurice Storck Collection that contained several interesting coins bought in person at the 1954 King Farouk Palace Sale. These coins had been off the market for decades and performed extremely well. Mr. Storck was a coin dealer at the time and probably handled some great coins acquired in Cairo. Luckily for later generations, he saved a few for modern-day collectors. John J. Pittman, another famous American collector, also attended the [...]

Like everyone else, you are probably searching for holiday gift ideas to please that hard-to-buy-for friend or relative. Shopping this year is even more difficult, with most of your options limited to online shopping. As we bring 2020 to a close (thankfully), try celebrating with numismatic gifts for your loved ones, if one or more is a collector or may be inclined to collect. However, numismatists can be quite hard [...]

Most major players in the rare coin market have been concerned about the COVID-19 crisis’s impact on the US economy. However, numismatics has been flourishing during these challenging times. With so many staying at home with extra time on their hands, coin enthusiasts have turned to the internet to explore their hobby. The world of rare coins has gone almost entirely online. Who would have thought a few years ago [...]

During my tenure on the ANA Board of Governors, including my time as president from 2015 to 2017, the American Numismatic Association (ANA) has struggled to secure funding for its educational mission. Annual membership dues barely covered the cost of producing and shipping the ANA’s monthly publication, The Numismatist. Funding for other pillars of the organization, such as the Ed Rochette Money Museum and the Dwight D. Manley Numismatic Library, needed to be found elsewhere. The COVID-19 [...]

Next week, Heritage Auctions will be offering the Maurice Storck Collection. Storck was a coin dealer who was active starting in the 1950s and famously attended the King Farouk sale that was held in Cairo, Egypt in 1954. When he died last year at the age of 97, he was the last US numismatist who attended that sale in person. His collection contains an interesting array of US rarities and will be warmly received, as are all old-time [...]

US gold coins have been a fascination of mine since the start of my career in the 1970s. Back then, there was a high demand and a significant premium over gold spot prices for common date US gold coins. We would handle hundreds of coins during a typical week of going to coin shows and visiting shops. After getting burned a few times on counterfeits, I became determined to become [...]

Years ago, Charles Anderson, owner of Whitman Publishing, began a collection of US Pattern coins. The collection grew into one of the most complete ever assembled. That collection sold intact to the mega-collector Bob R. Simpson in 2007 for over $30 million — the largest private numismatic transaction at that time. In the following years, Mr. Simpson made an effort to buy any and all Patterns to complete the collection as fully as possible. [...]

Consider Collecting Colonial Coins   A few weeks ago, NGC announced that it had recently certified hundreds of additional colonial coins from the extraordinary collection assembled by Donald G. Partrick. NGC had certified about 350 colonial coins from the collection in 2014, and they were sold at public auction for over $25 million. The centerpiece of the most recent submission is the finest known 1787 ‘EB’ on Wing Brasher Doubloon graded NGC MS 65★. Brasher Doubloons were [...]

The August sales that took place without the annual ANA show demonstrated a strong demand for quality coins   By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… Last week should have been the highlight of my numismatic year. Every summer since 1974, I have attended the ANA World’s Fair of Money. The show is the cornerstone of the numismatic calendar and is greatly anticipated by thousands of collectors and dealers around the world. The [...]

Markets are being tested by the COVID-19 crisis; so far, the rare coin market is passing The internet has been one of the most significant driving forces for numismatics since the late 1990s. Indeed, the hobby has been forever changed by this amazing tool of the modern age. Collectors now have more information available at their fingertips than advanced hobbyists from decades ago ever could have dreamed. Doing numismatic research [...]

The numismatic market is alive and well, with recent auctions proving its strength and resilience. As I write this article, most rare coin professionals and collectors around the world are sheltered in trying to weather the effects of the coronavirus pandemic. However, most are still connected to the world via internet, so the rare coin market is alive! Bullion and any coins remotely bullion-related are flying off the shelf. Most [...]

There is no denying that we in America are currently consumed by media coverage of coronavirus. The slow drip of bad news accelerated last week when the stock market plunged due to fears of shutdowns and deep economic damage. Anyone with a retirement account is now trying to determine how to react wisely. For most of us, doing nothing is probably the best course of action. Indeed, entrepreneur and investor [...]

Very few United States coins inspire the awe and fascination of the 1879 and 1880 $4 gold coins, otherwise known as “Stellas”. These enigmatic coins are far beyond the financial reach of most collectors. But that hasn’t stopped the Stella from becoming one of the most popular US coins ever produced. Wealthy collectors have created a demand that far outstrips supply so that even circulated examples now command a nearly [...]

Spring is fast approaching and for many that means a trip to our nation’s capital to see the cherry blossoms and to visit the many free Smithsonian Museums. There will also be millions of young people taking the traditional eighth grade class field trip to Washington, D.C. Hopefully, a large number of those students will have a chance to see the National Numismatic Collection at the Smithsonian National Museum of [...]

Variety is the spice of life — and coin collecting. Over the last several months, a client of mine has taken a deep dive into collecting Morgan Silver Dollars. This client is quite studious and has spent considerable time learning the series. Every once in a while, he will ask a question about collecting Morgan Dollars that may seem obvious to seasoned collectors, but clearly is not to someone new [...]

Take the scenic route when collecting circulated coins. The most common advice any experienced numismatist will dispense is “buy the best you can afford.” I have shared this particular nugget of wisdom many times myself. In practice, it usually means trying to decide if you can afford MS 63, MS 64, MS 65 or higher-quality coins. The market for rare coins is extremely skewed toward higher-quality specimens, and the price [...]

Last week, I experienced one of the most amazing events of my 45-year numismatic career. While I have often said that every day in my profession is like the Antiques Roadshow, seldom does something come out of left field that is totally unexpected. But what happened on December 6, 2019, blew me away. It started with a brief email a couple weeks ago from Doug Davis, the director of the [...]

Last week, I experienced one of the most amazing events of my 45-year numismatic career. While I have often said that every day in my profession is like the Antiques Roadshow, seldom does something come out of left field that is totally unexpected. But what happened on December 6, 2019, blew me away. It started with a brief email a couple weeks ago from Doug Davis, the director of the [...]

With the popularity of online set registries, coin collecting has become a competitive sport. Sometimes one point is insignificant. Your credit score might be 720 or 721, but the one-point difference really does not matter much. On the other hand, if the Super Bowl is tied, with seconds left in the game, and the kicker needs to make the extra point after a touchdown, that one point means everything. Most [...]

During my tenure as a member of the Board of Governors for the American Numismatic Association (ANA), one of my prime responsibilities was to make decisions about ANA conventions, which is no small task given their size and importance. The World’s Fair of Money held each summer by the ANA is one of the organization’s largest revenue sources. It is also the face of the organization to its many thousands [...]

Someone once said, “beauty is in the eye of the beholder.” This sublime statement has become a reality in the rare coin business. Toned coins are now extremely collectible and highly sought after. When I started buying and selling rare coins a few decades ago, toned coins were certainly a curiosity, but the demand for them was lukewarm at best. As a matter of fact, most collectors wanted their rare [...]

My company has been submitting coins for grading and authentication since the inception of third-party grading in the 1980s. Today, we send in thousands of coins to be graded each year, so the process of coin certification has become second nature for us. But for many, this task can be confusing and difficult. Given the costs involved, understanding how coin certification works is vital for beginners and advanced collectors alike. [...]

When the public brings in coins for an appraisal these days, they often have done at least some research. But working with these folks also reminds me how little the general population knows about the world of rare coin grading. The temptation for someone who knows little or nothing about grading is to scan to the right on the price charts to determine a coin’s value. They find it hard [...]

Ten answers to the question: What coins should I pursue? I often have conversations with others about the growth of numismatics. Most, if not all, agree on the importance of attracting young people to the hobby. Not long ago, I spoke with a marketing director for the Royal Canadian Mint. Their research shows that it is very important to target people ages 6-12, with the knowledge that they will most [...]

When I began collecting decades ago, my first goal was to complete a set of 1941-to-date Lincoln cents. I lived in Florida at the time and locating the early San Francisco Mint issues in circulation was very difficult. After several months of searching in vain, I made my first numismatic purchase. For just 25 cents or so each, Littleton Coin Co. helped me complete my first numismatic coin album set. [...]

Ed Lane: You have had a numismatic career for more than 35 years and have been called “the expert’s expert.” You are the author of several books on American coins and were recently elected president of the American Numismatic Association (ANA). How did you initially get involved in buying, selling and collecting coins? Jeff Garrett: When I was 10 or 12, a family friend gave me a Lincoln-head penny album [...]